These Are The Groups of People That Worry About Money The Most

PennyGem’s Elizabeth Keatinge tells us why women and young people worry about money most.

Transcript

00:00 Women and young people have enough to worry about, right?

00:07 Our families?

00:08 Um, or maybe a whole entire future?

00:12 New research from Manchester University shows that more than a quarter of young people feel

00:16 pressure to continuously save money, and one in five said they feel social pressure to

00:21 spend beyond their means.

00:23 According to the study, there was a 33% increase in clinically significant levels of psychological

00:28 distress in women and a 37% increase in young people in April compared to before the pandemic.

00:35 A 2019 study by Salary Finance, that's a company that helps employers develop financial wellness

00:40 programs, found that more than half of millennial women don't think they will have enough money

00:45 to retire, while only a third of millennial men hold the same belief about themselves.

00:50 For Money.com's Jean Chatzky tells NBC News that the best way to deal with financial stress

00:56 is to come up with a plan to get out of debt.

00:58 Yoga and meditation are great for calming the nerves, but when it comes to stressing

01:03 about money, a solid plan will help ease your worries.

01:05 Preparing for emergencies or surprise life situations can make us feel less stressed

01:10 out when they happen.

01:11 [MUSIC PLAYING]