Do you have Financial PTSD?

7 Jun 2016 · 1 min

Watch on YouTube

1:15

In this brief Wake Up Today video, Alan Akina introduces the concept of "financial PTSD," citing a Payoff.com study that reports 25% of all Americans and 33% of millennials exhibit PTSD‑like symptoms due to money‑related stress. He explains that stagnant incomes, lack of savings, high debt, and severe financial events such as defaults or evictions are the primary drivers of this distress. Akina then offers three concrete actions viewers can take immediately: dedicate at least 30 minutes each day to managing their finances, maintain a budget that looks three months ahead, and consult a qualified financial professional for guidance. The segment ends with a friendly sign‑off and a reminder to tune in next Wednesday.

Chapters

Good morning, gang! Do you ever get stressed out over your financial situation? Do you feel overwhelmed and don't know what to do? Now, if this sounds familiar, you might be experiencing financial PTSD. According to a recent study by payoff.com, a financial wellness company, the study found that 1 in 4 Americans and 1 in 3 millennials suffer from post-traumatic stress disorder-like symptoms caused by financially induced stress. The study found that the psychological and emotional levels of stress over money are closely related to those found in individuals with PTSD. The folks at Payoff believe that stagnant incomes, nonexistent savings, high debt levels, and financial ordeals like defaults or evictions contribute to the symptoms. Now, here are 3 things that you can do today to overcome these feelings. Make a commitment that you will focus at least 30 minutes a day on your financial life. Keep a budget that projects ahead at least 3 months. Seek the help of a qualified financial professional. For Wake Up Today, I'm Alan Akina. See you on Wednesday.