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Stressed About Money? Don’t Be: Here’s How to Beat These Millennial Money Stressors

Amelia McBain  |  October 28, 2019

You meditate and splurge on a massage every once in a while, so why are you still feeling so stressed all the time?

Well, not to add to it but the holidays are almost here.

Living in a constant state of tension can put you at risk for major health problems—chronic pain, fertility issues, heart disease and Type 2 diabetes — to name a few.

Unfortunately, one of the huge factors causing millennials stress is finances—no big surprise there.

According to the Bank of America 2018 Better Money Habits Millennial Report, one in four worry often about their money.

“According to the report, about a third (35%) of millennials say that not having enough money saved is their top financial stressor, followed by their career (24%), not planning and saving enough for retirement (21%) and not being able to own a home (20%),” says Haley Ross, who works with the Bank of America Better Money Habits team as a millennial adviser.

Deep breaths.

“Stress is never fun,” agrees Ross. “Still, it’s important for millennials to determine what is causing them stress and to realize that they have time to take steps to reduce the stress.”

So what can you do about it? Actually, a lot, and it’s relatively pain-free. Here are four ways to reduce your money worries.


Spending more than you take home is one sure-fire way to stress yourself out. Money worries can creep into other areas of your life, fast. So create a budget.

We know, even the thought of building a budget can seem stressful, but it will be worth it: The budget will give you the freedom to know how much you can spend.

Knowing exactly how much money you have coming in and going out will help you gain control over your finances, which is a great step toward stress-free living.


As mentioned, The Better Money Habits report found that not having enough saved is the top source of financial stress for millennials.

We get it—not everyone can save a whopping 20% of their income or even 10%. Just save where you can! Make a commitment to save a certain amount every day, or week, or month. Build it into your budget as a way to cement it in your habits.


We millennials believe the stereotypes about our bad budgeting skills, according to the Better Money Habits report. However, the data show there’s no difference, or even that millennials are better, than the other generations at managing money.

You might be stressed because you think you’re not doing a good job at dealing with money when that might not be the case. Though everyone should be thinking about ways to better handle their finances, you could be doing a decent job already.


When added to money stress, overworking yourself can be a recipe for disaster. Careers are the second biggest causes of millennial money stress, according to the Bank of America report.

Taking a break from work is actually key to keeping your tension to a minimum. When you embrace brief diversions after just 50 minutes of intense concentration, you’ll produce better results—and remain calm.

Grab a cup of coffee with a friend, or just take a walk around the block when you’re feeling overwhelmed. You may think that you’re wasting time, but in reality, you’re helping to make the time you are working more meaningful.

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