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Stress is a common part of everyday life. We experience it when we’re overwhelmed at work, when we’re dealing with common relationship issues, and even when we’re handling unexpected issues, like illnesses and injuries. However, one of the most common sources of stress is money. Whether you’re worrying about paying your bills, or you’re concerned your income isn’t enough to accommodate the needs of your family, financial stress can cause a lot of strain.
the staff of the Ridgewood blog
Ridgewood NJ, as previously reported on the Ridgewood blog ,the Consumer Price Index surged 7.9% in February . Prices are going up on everything from the food you put on the table to the gas that powers your car.
Continue reading CNBC Poll : 81% of Respondents Believe a Recession is Likely to Happen this Year
Fed survey: 40% of households show signs of financial stress
Four out of 10 American households were straining financially five years after the Great Recession — many struggling with tight credit, education debt and retirement issues, according to a new Federal Reserve survey of consumers.
The Fed study shows that the economy has made progress to the point where a majority of U.S. households said they were “living comfortably” or doing OK financially.
But almost 40% reported that their families were “just getting by” or struggling to do so. And more people reported that their financial situation was worse rather than better off compared to five years earlier. The survey was taken in September 2013.
Overall, the Fed’s findings, reported Thursday, are consistent with many other studies and data depicting the deep and lingering effects of the 2007-09 recession. The recovery has been slow and uneven, skewed toward the wealthy.
“It just shows that the recovery is not delivering for a huge chunk of Americans,” said Heidi Shierholz, an economist at the liberal-leaning Economic Policy Institute.
Because the Fed report captured a snapshot of households last fall, no comparable data from previous years was available to assess changes over time. The central bank conducts a far more extensive survey of consumer finances every three years, but the results of the most recent one, for 2013, won’t be released until early next year.
https://www.latimes.com/business/jobs/la-fi-financial-stress-20140807-story.html