October Health – 2025 Report

Financial Wellness in United States

The leading cause of financial wellness stress in the United States is typically attributed to a combination of high living expenses, including housing costs, healthcare, and education. Additionally, rising debt levels, particularly student loan and credit card debt, create significant financial strain for many. Economic uncertainty and inadequate emergency savings further exacerbate this stress. Providing employees with resources like financial wellness programs and assessments, including those from October, can help address these challenges and improve overall mental health related to financial pressures.

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Financial Wellness Prevalence
25.59%
Affected people
14,074,500

Impact on the people of United States

Effects of Financial Wellness Stress on Health and Personal Lives

  1. Mental Health Issues:

    • Increased anxiety and depression due to financial uncertainty.
    • Heightened feelings of overwhelm and helplessness.

  2. Physical Health Problems:

    • Stress-related ailments such as headaches, digestive issues, and hypertension.
    • Weakened immune system leading to more frequent illnesses.

  3. Relationship Strain:

    • Tension in personal relationships due to financial disputes or stress.
    • Reduced communication and intimacy as partners may avoid discussing finances.

  4. Workplace Performance:

    • Decreased productivity and focus, leading to poorer job performance.
    • Increased absenteeism due to stress-related health issues.

  5. Lifestyle Choices:

    • Poorer dietary choices and neglect of exercise due to time or financial constraints.
    • Increased reliance on unhealthy coping mechanisms, such as alcohol or overspending.

Supporting employees with financial wellness programs can mitigate these effects. Consider utilizing platforms like October for group sessions and resources that promote financial and mental health stability in the workplace.

Impact on the United States Economy

  • Reduced Consumer Spending: Financial wellness stress leads to decreased discretionary spending, as individuals prioritize essential needs over non-essential goods and services.

  • Increased Debt Levels: High financial stress can result in individuals accruing debt, which can exacerbate financial instability and may lead to higher default rates on loans.

  • Mental Health Issues: Financial stress can contribute to mental health problems, such as anxiety and depression, which in turn affect workplace productivity and overall economic output.

  • Decreased Workforce Productivity: Employees experiencing financial stress may have lower focus and engagement at work, potentially resulting in decreased productivity and increased absenteeism.

  • Economic Inequality: High levels of financial stress among lower-income populations can widen the gap between different socioeconomic groups, impacting overall economic growth and stability.

Consider utilizing resources like October to support financial wellness in your workplace, as it can provide valuable tools and sessions for employees to manage stress effectively.

What can government do to assist?

  • Promote Financial Education: Implement programs that teach budgeting, saving, and investing skills to improve financial literacy among citizens.

  • Increase Access to Financial Resources: Facilitate access to financial services, including low-interest loans and savings accounts, particularly for low-income individuals.

  • Support Employment: Foster job creation through incentives for businesses, ensuring stable employment opportunities for citizens.

  • Provide Mental Health Resources: Encourage companies to offer mental health support services, such as counseling and workshops about financial stress management, similar to what October and October provide.

  • Implement Social Safety Nets: Strengthen social welfare programs that support those in financial distress, reducing the overall stress on individuals and families.

What can businesses do to assist their employees?

  • Implement Financial Education Programs: Offer workshops or seminars that cover budgeting, saving, and debt management to help employees better manage their finances.

  • Offer Financial Counseling: Provide access to financial advisors or counseling services where employees can receive personalized guidance and support.

  • Flexible Spending Accounts: Introduce pre-tax saving options for healthcare and childcare to ease the burden of out-of-pocket expenses.

  • Emergency Savings Initiatives: Encourage employees to set up emergency savings accounts through matched contributions from the employer.

  • Access to Financial Tools: Provide digital tools and resources for budgeting and financial planning, such as apps that help employees track their spending and savings goals.

  • Regular Assessments: Use assessments to gauge financial wellness among employees and tailor programs accordingly. Consider using platforms like October for assessments and group sessions focused on financial wellness.

By addressing financial wellness proactively, companies can significantly reduce stress and improve overall employee well-being.