65% Losing Sleep Over Health Care Costs

65% Losing Sleep Over Money; Health Care Costs Lead List of Worries for First Time

Americans Losing Sleep Over Finances Hits Post-Recession Peak

65% of Americans are losing sleep because of money, according to a new CreditCards.com report. The most common worry – expressed by 38% of Americans – is health care or insurance bills. 37% lie awake fretting about saving enough for retirement, 34% because of educational expenses, 26% over mortgage/rent bills and 22% due to credit card debt.

Health care and educational expenses are the only categories in worse shape now than during the Great Recession. Concerns over health care costs have spiked over the past year (up nine percentage points).

In 2007, just prior to the recession, 56% of Americans said they were losing sleep over one of these five topics. During the recession (2009), the figure jumped to 69%. It fell to 62% each of the past two years and ticked up to 65% this year.

  • 73% of Gen Xers,
  • 71% of millennials,
  • 59% of Baby Boomers
  • 48% of the Silent Generation.

“People lose sleep when things feel out of control,” said Matt Schulz, CreditCards.com’s senior industry analyst. “Take back some of that control by taking action. Even small moves like making a budget, selling something of value or trimming expenses can make you feel empowered and help you sleep more peacefully at night.”

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