A recent piece in the New York Times discussed the number 1 cause of stress in America: money woes. It also offered a bit of advice on how to deal with it that might run counter to what is traditionally considered good manners: "Talking about it might be taboo, voyeuristic or impolite, but money is our No. 1 stress factor, according to the American Psychological Association, and guess what the research shows can help us enormously? Being open and honest about it. Not just with ourselves (that's a first step), but with other people."
Just as some religions advertise the cleansing power of confession, talking about your financial woes can help you feel better, and even get you on the path to a better place. Here's one reason why: People who are dealing with debt or other financial woes might feel alone and ashamed but the reality is that most people's lives are a financial mess. 70% live from paycheck to paycheck, and people are wracking up debt at record rates.
As Dave Ramsey told the reporter, "When you see Ken and Barbie sitting there, looking like the perfect couple, and then you hear they've had a big fight about money, and they're broke, too, it gives you encouragement."
One of the problems with money woes is that, in this era of consumer credit, it can often be hidden. You might not know that your neighbor leases his car and has a huge HELOC on his home. It's not like obesity, where people wear the signs of their struggle around their waists.
So take a chance. Next time you're feeling stressed about money, tell your friends. You might find that they have similar problems, and you can share war stories and learn from each other. At the very least, it should make you feel better.
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