Mood and Money: Emotions Drive Financial Decisions
Research reveals that emotions play a significant role in financial decisions, with 61% of Americans feeling stressed about finances.
A report from Wealth Enhancement found that 44% of Americans avoid checking their financial accounts due to anxiety, with nearly half of U.S. adults avoiding account check-ins in the past 12 months.
- 66% of those feeling very or extremely stressed about finances adopted avoidance behaviors.
- 63% of Gen Z respondents also avoided checking their accounts due to stress.
39% of respondents who reported feeling stressed, anxious, or sad said they are likely to spend money to feel better.
Author's summary: Emotions significantly impact financial decisions, leading to avoidance and impulsive spending.
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