USA TODAY: Why do younger workers have so much financial stress?

By | November 19, 2017


Why do younger workers have so much financial stress?

We all experience our share of financial anxiety to varying degrees. But according to a new Schwab study, younger workers are disproportionately affected by money-related stress.An estimated 35% of Millennials experience so much financial stress, in fact, that it impacts their work performance, whereas only 18% of Gen Xers and 11% of Baby Boomers say the same. And that’s concerning — first, because too much stress can mess with our health, but also, because poor job performance can lead to — you guessed it — even more stress. And that’s a cycle in which nobody wants to get caught. What are younger workers so stressed about? What’s giving Millennials so much agita? For one thing, student loans. Nearly a quarter of millennials blame high levels of student debt for their money-related anxiety. But given that the average borrower aged 20 to 30 is on the hook for a monthly payment of $351, that’s not particularly shocking.

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