Brad Kontz is an Associate Research Professor at Kansas State.
In the June 2011 edition of The National Psychologist he sums up some recent research. For more information, take a look at my section on Inner Finanial Health.
Americans have a troubled relationship with money.
According to the APA’s “Stress In America” survey, 76% of Americans name money as the No. 1 source of stress in their lives (APA, 2011). While this may not seem surprising in the current economy, this finding is consistent with the years preceding the 2008-2009 recession when two thirds of Americans consistently names money as their No. 1 stressor…
Money is the No. 1 topic of disagreement in the early years of marriage (Oggins, 2003) and a common area of conflict for couples (Dortch,m 1994).
Financial strain has been shown to reduce relationship satisfaction (Vinokur, Price and Caplan, 1996), increase symptoms of depression, interfere with role functioning, have a negative impact on health (Price, Choi and Vinokur, 2002), and lower work productivity (Grensing-Pophal, 2002).
The significant economic gains experieinced by Americans in the past few decades have not been accompanied by a rise in life satisfaction and have been correlated with distrust and depression (Diener and Seligman, 2004).
Because we are the wealthiest country in the world, our troubled relationship with money is much more than just a financial issue.”
…Trachtman (1999) argues that money matters are “perhaps the most ignored subject in the practice, literature, and training of psychotherapy.”
Brad Kontz, Psy. D. (June, 2011)