EAU CLAIRE, Wis. (WLAX/WEUX) – As prices go up, the hours spent asleep go down. That’s from a study that says just over 80% of adults have lost sleep because of their finances. First News at Nine’s Daniel Gomez has more
What hurts the wallet is also making adults toss and turn in bed. A study from self-surveyed over 1,300 adults on the impact of their finances. Finding 83.5% say they’ve lost sleep over money.
Anne Allen is a therapist at Nystrom and Associates in Eau Claire and says it’s something she sees with her clients, “They may be struggling with sleep. And then as we investigate further finances can be a really big part of that. I think all of us at some point have probably had some struggles. Like, whether you’re a teen or in college or trying to buy a house or you’ve been laid off.”
Andy Cooper is a financial planner. He suggests for those who have investments to try unplugging as media consumption will cause more stress over impacts on assets. But for those who are not investing, he recommends to still keep an eye on the budget, “Really reviewing what’s necessary and when you cut down on some of those things, you might have some relief from that anxiety.”
Cooper also says the job market is hot and there could be an out if your current paychecks aren’t cutting it, “There are certain trends now that, uh, many employers are paying higher competitive wages and there might be a time to look, you know, if there’s something better on the other side of the fence.”
Allen says in the end, life changes on a dime, “I think of people I’ve seen that have come in here and they feel like their life is over and a year later they’re at a completely different place,” and to remember that knowledge is power, while not shying away from looking at the bank account to figure out the next move.
Cooper also suggests to have a financial advisor or anyone who wouldn’t have an emotional attachment to your financial situation. It helps with keeping you accountable if you need to stay on track with the budget.