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- More than half of US adults report stress over money is causing them to lose sleep.
- Gen Z, Gen X, Millennials, and Baby Boomers all claim different money-related issues keep them up at night.
- According to a report by Bankrate, middle-aged adults were most likely to lose sleep over at least one money issue.
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More than half of US adults are losing sleep due to worries about money. According to a new report by Bankrate, financial insomnia affects middle-aged adults (39-54) the most. Roughly two-thirds of respondents within that age demographic claimed they occasionally lose sleep over at least one money-related issue.
Money stress, however, is felt by every generation of US adults, from Gen Z all the way up to baby boomers — but Bankrate found that the financial stressors keeping American adults up at night varies greatly by generation.
Here’s the biggest financial stressors for every age group:
Members of Gen Z are worried about being able to cover everyday expenses like their morning coffee and transportation to work.
Getty Images/Peter Muller
Despite being the youngest generation analyzed in Bankrate’s study, those belonging to Gen Z have their own share of money-related stress. Young adults aged 18-22 worry about work (33%) and covering everyday expenses like food and travel.
As college costs continue to rise, it’s no wonder that these financial issues are also beginning to fall on the shoulders of Gen Z members. More than a quarter of respondents worry about paying for either their own or a family member’s education.
Millennials, the self-described ‘burnout generation,’ reveal work-related stress is the most common reason they lose sleep at night.
Getty Images/Maskot
Millennials are the age group second-most likely to lose sleep over money-related stress. The issues that caused millennials aged 23-38 to toss and turn include work-related stressors and fears about saving enough money for retirement.
Housing costs and credit card debt pose less of an issue for millennials, with only about 20% of respondents claiming those issues caused them to lose sleep.
Gen X are the generation most likely to lose sleep over money issues, with work and everyday expenses the leading cause of financial insomnia.
Getty Images/JGI/Jamie Grill
Gen X-ers are the generation most likely to occasionally lose sleep over money problems, with 64% of survey respondents claiming they worry about at least one money-related issue. The most common sources of financial-related stress for middle-aged Americans include worries about work and everyday expenses — 34% and 38% respectively.
Gen-Xers also lost sleep over the ability to pay housing costs like mortgage bills and monthly rent.
See the rest of the story at Business Insider
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SEE ALSO: Research shows how Generation Z thinks differently from millennials when it comes to money
Source: Business Insider – feedback@businessinsider.com (Erin McDowell)