According to a recent study by the American Psychological Association, “Stress in America,” Americans are more tense because of money than ever.

“Eighty-seven percent of Americans say inflation and rising prices for everyday goods are what cause them stress,” said Vale Wright, senior director of health innovation innovation at the American Psychological Association.

More than 40% of adults in the U.S. say money has a negative impact on their mental health, according to the April 2022 Bankrate report on money and mental health.

“I’ve been in debt in all my 20s and early 30s,” Taun Schultz, founder of The Money Life Coach, told CNBC. “I was in this debt cycle trying to get out of debt, pay off debt, get back to it. And I was just tired of feeling like I would never be able to get out of it, or feeling like I would always have debt.”

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Some Americans lack hope that they will ever have enough money to retire, with about 40% saying their ability to be financially secure in retirement “will work wonders,” according to the 2021 Natixis World Pension Index.

“I think people need to have a sense of hope,” said Mark Hamrick, head of Washington’s Bankrate bureau. “If the economy is working on them, there is a greater chance that people will have hope that they will be able to achieve their basic personal financial goals.”

Watch the video above to find out why Americans are more stressed than ever because of money and how it affects their mental health.

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