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Studies showed that 1 in 3 US adults are worried about keeping up with everyday expenses.
- Across every age group, the biggest money stressor was everyday expenses - nearly 1 in 3 (32%) US adults say they occasionally lose sleep over the issue.
- Everyday expenses can be things like your morning cup of coffee or putting gas in your car.
- Other financial worries included saving enough money for retirement and healthcare or insurance bills.
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Following a report by Bankrate, Business Insider looked at the money issue that each generation is losing sleep over the most. However, for 1 in 3 (32%) of US adults, one money issue alone is proving to be a major problem: everyday expenses.
Everyday expenses can range from your morning cup of coffee to the gas you put in your car every week. The tricky thing about everyday expenses is that they are oftentimes integral to day-to-day life. It would be nearly impossible to not spend any money on food, travel, or entertainment. However, there are ways to cut down on your everyday expenses and eliminate a little money stress.
Start working on the problem piece by piece
Hero Images/Getty Images Start with small changes to your everyday expenses - then try and tackle your larger outgoings.
"When you're wrestling with a big issue, it's important to break it into manageable chunks. Devising a plan and starting to execute against it - piece by piece - is the best way to get things done," said Bankrate.com analyst Ted Rossman. "Simply getting started should help you begin to feel better and settle your racing mind. That holds true whether you're worried about health, money, relationships, work or anything else."
By bringing your lunch to work, making coffee at home, or running outside instead of using a costly gym membership, you can save big without making huge life changes. Rossman also explains that although small changes can add up, it's also important to look at alternate ways to save money on your larger expenses.
"I'm less concerned about the proverbial lattes and avocado toast and more interested in things like: can you cut a car payment by taking public transit or driving a cheaper used car instead? Can you plan a staycation instead of an expensive getaway this summer?" Rossman says.
US adults are also worried about saving for retirement, healthcare and insurance costs, and credit card debt
Besides everyday expenses, US adults also universally worried about saving enough money for retirement (24%) and healthcare or insurance bills (22%). This was followed by 18% of survey respondents claiming credit card debt caused them to lose sleep, of which 51% said they were pessimistic about their ability to successfully pay off their debt.