Causes Of Financial Stress
The major causes for such a situation to occur are having an inadequate income compared to the expenses, acquiring a large amount of debt, living paycheck to paycheck, having no savings or insufficient funds for unexpected emergencies, poor financial management skills, unable to afford insurance, and more. These things may lead to living in a general state of anxiety about one’s overall financial security.
The financial stress is generally caused when there is a discrepancy between expenses and income. Economic recessions and crisis can exacerbate these feelings on a broader scale. Major occurrences such as job loss, health emergency, car breakdown or stock market decline also cause an increase in stress.