A recent survey of 2,000 adults found that 66% have avoided social events because they’ve felt embarrassed or uncomfortable about their financial situation.
Recent increases in gas prices and inflation have left 56% feeling “extremely” or “noticeably” more stressed.
The survey also found that 67% engage in “stress shopping” when feeling financially overwhelmed and end up buying things they don’t need.
People tend to buy more collectibles they don’t really like, fast food, expensive clothing and accessories and even duplicates of items they already own.
Three in five feel like they’re not earning enough money to live their life to the fullest. On average, people think they’d need to earn a minimum of $86,000 to never feel stressed about their finances again.
Regardless of how much money they earn, 57% said it will always make them feel stressed.
EVENTS PEOPLE AVOID BECAUSE OF THEIR FINANCES
Birthday parties – 33%
Weddings – 32%
Happy hours – 31%
Networking events – 31%
Dates – 30%
Retirement parties – 30%
Church – 27%