Overcoming Financial Stress

Overcoming Financial Stress

Core Facts

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2017-04-30

There is plenty of evidence as to the impact of financial stress at work. For example, in 2012, roughly one in five employees admitted they had skipped work in the past year to deal with a financial problem. Among workers now in their 30s and 40s – a critical part of the American workforce - stress levels are even higher. Many Generation X workers (29%) say their personal finances distract them at work, and a majority (53%) find it stressful to deal with their personal finances. 

Over 70% of people experience physical or psychological symptoms caused by stress. If ignored, this stress affects your health - your body and your immune system, not to mention your ability to perform on the job, and thus your bottom line. 

Americans who experience a high level of financial stress are distinctly more likely to spend excessive time watching TV or surfing the internet, and they are more than twice as likely to engage in unhealthy activities. 

Understanding a subject is key to overcoming stress about it 

Therefore, it would be a really good idea to become as financially literate as possible, so that you have the knowledge and understanding to back up a smart financial plan rather than swimming in the stress of the unknown.

The end goal of a financial wellness program is to enhance your overall financial well-being. That’s why financial wellness programs most often support a person’s ability to manage both short-term and long-term needs. Definitions of financial wellness stress the importance of striking a balance between planning for immediate needs while also taking into account long-term goals. 

In other words, continue the practice of balancing living responsibly today and plan wisely for tomorrow. The focus is not just on creating a plan but on enabling yourself to make decisions to manage a plan over time.

 

IMPORTANT DISCLOSURES

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC

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About

Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Contact

Jake Mendlinger
Account Manager
Zimmerman/Edelson
516.829.8374 X 232
jmendlinger@zimmed.com

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