University Of Wisconsin - Green Bay: Rising Inflation Has Made People Feel Anxious. Here Are Ways To Cope/ W Prof. Preston Cherry At CNBC

Green Bay WI

03 June, 2022

5:45 AM

Description

Press release from University of Wisconsin - Green Bay: June 1, 2022 Many Americans feel anxious about money, especially when inflation is high, interest rates are rising and markets are whiplashing. More than 40% of U.S. adults said that money concerns have a negative impact on their mental health, according to a recent survey from Bankrate. Of those who said money took a toll, most cited feeling stressed, anxious and overwhelmed. "When individuals suffer money challenges or they're working through money issues, there's tremendous potential for stress," said Mark Hamrick, senior economic analyst at Bankrate. When faced with difficult financial environments, it's important to consider what is within your control and what isn't, according to Preston Cherry, a certified financial planner, certified financial therapist and founder of Concurrent Financial Planning in Green Bay, Wisconsin. "We can't control things like inflation, war, market cycles or economic cycles — those things are going to happen," he said. "Uncertainty is certain." Knowing that can help people take some of the blame and shame for financial strife off themselves and better process what's happening in the environment, he said. "That allows thinking about what we can do about it to make it through," he said. Source: Rising inflation has made people feel anxious. Here are ways to cope, CNBC This press release was produced by University of Wisconsin - Green Bay. The views expressed here are the author's own.