October Health – 2025 Report

Financial Wellness in United States

The leading cause of financial wellness stress in the United States is typically attributed to rising living costs, including housing, healthcare, and education expenses. These factors often lead to increased debt levels and financial insecurity, causing significant stress among the population. Additionally, uncertainty around job stability and the overall economy contributes to this stress. For organizations, providing resources like financial wellness workshops or partnering with services like October can help support employees in managing these challenges.

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Financial Wellness Prevalence
27.3%
Affected people
15,015,000

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
    • Heightened feelings of uncertainty and fear

  2. Physical Health Problems

    • Increased blood pressure
    • Weakened immune system

  3. Relationship Strain

    • Increased conflicts with partners or family
    • Loneliness and social withdrawal

  4. Workplace Performance

    • Decreased productivity and focus
    • Higher absenteeism rates

  5. Coping Mechanisms

    • Poor financial decisions (e.g., impulse spending)
    • Substance abuse for relief

Consider implementing financial wellness programs in your organization or use resources like October to support employees in managing their financial health and stress.

Impact on the United States Economy

  • Consumer Spending Decline: High financial wellness stress can lead to reduced consumer confidence, resulting in decreased spending on goods and services.
  • Increased Debt Levels: Individuals under financial stress may rely more on credit, leading to higher personal debt levels and potential defaults, affecting lenders and the economy.
  • Greater Absenteeism: Financial stress can contribute to increased absenteeism in the workplace, resulting in lost productivity and potential revenue losses for businesses.
  • Health Costs Rise: Stress related to financial worries can lead to health problems, increasing healthcare costs for employers and the economy.
  • Decreased Investment: Companies may delay investments in growth or innovation when consumers and employees are financially stressed, impacting economic growth.

Implementing financial wellness programs, like those offered by October, can help alleviate some of this stress in the workplace, leading to a healthier economy overall.

What can government do to assist?

Strategies to Lower Financial Wellness Stress

  1. Promote Financial Education
    Implement educational programs that teach budgeting, saving, and investing skills.

  2. Increase Access to Financial Resources
    Provide resources like low-interest loans, financial counseling, or grants for low-income individuals and families.

  3. Encourage Employer Support
    Employers can offer financial wellness programs, including workshops and access to financial advisors, or partner with services like October for digital group sessions.

  4. Support Mental Health Services
    Ensure access to affordable mental health care, focusing on the intersection of financial stress and mental health.

  5. Develop Emergency Savings Plans
    Encourage the creation of emergency funds through matched savings programs or incentives.

  6. Legislate for Fair Wages
    Advocate for minimum wage increases and support for living wages to help individuals meet basic needs.

What can businesses do to assist their employees?

  1. Provide Financial Education Resources
    Offer workshops or online courses about budgeting, saving, and investing.

  2. Employee Assistance Programs (EAP)
    Partner with services like October that offer support for financial stress and mental health.

  3. Flexible Payment Options
    Introduce flexible pay schedules or access to earned wages to ease financial strain.

  4. Retirement Planning Assistance
    Provide access to financial advisors for retirement planning to help employees feel more secure.

  5. Emergency Fund Programs
    Set up programs that encourage savings and provide small loans in emergencies without high-interest rates.