Why are Young Workers so Stressed about Money ?
So many young workers in organizations around the world are so stressed about money and according to a research by mentalhealth.org.uk; “60% of young people are unable to cope at work due to pressure to succeed in life”. Here are some of the reasons why most young workers are so stressed about money:
- The wages and salaries of most young workers have remained suppressed since the Covid 19 outbreak in 2020 hence this has affected most families and workers levels of income.
- 60% of young adults earn an average of 1 USD per day which is not enough to meet the rising cost of living therefore leading to depression, stress and anxiety
- Emotional stress of low-income earners has led to suicidal thoughts, mental health problems a sharp increase in drug and alcohol abuse.
- Most young workers carry the shame of their incomes and feel ashamed even to share their problems because of fear of peer pressure to succeed.
- Inflation has seen expenses of everyday items increase for the past year from 2020 – 2022 for basic everyday items such as food, fuel and entertainment.
- Most young workers are now failing to service their long-term debts, which include mortgages and cars hence an increase in stress levels.
- 70 % of Workers between the ages of 18 – 41 years are more worried about their incomes hence an increase of mental health issues.
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- More youths have failed to archive their life goals such as to achieve purchase of house and starting a family before the age of 30; hence adding to the pressures of mental health.
- More black families and previous marginalized groups of the society have seen suppressed incomes as compared to their white counterparts.
- 55% of young adults do not feel hopeful of their future due to their depressed levels of income and most their work does not guarantee retirement benefits or any social grants.
- 45% of young adults have cut back on leisure spending, dinning, travel and entertainment.
- With most young adults being stressed about money it has led to stomach cramps, headaches and a loss of sleep.
Written By : Arnold Mutamiri