Bruce Helmer and Peg Webb
Many Americans steer clear of the uneasy feeling that can arise from checking their financial accounts. According to new research from Wealth Enhancement, nearly half of Americans act on that impulse.
Forty-four percent of respondents in the firm’s Mood & Money survey said they’ve avoided checking a financial account in the past year because doing so felt too stressful.
That number uncovers a deeper truth: Our finances aren’t just about dollars and cents. They’ve become emotional terrain, tied to identity, self-worth, and our sense of control over the future.
The survey, which explored how emotions shape financial decision-making, found that 61% of Americans feel stressed about money, and more than four in 10 say that stress has increased over the past year. Rising living costs were cited most often (55%), followed by housing expenses (42%) and medical bills (26%). Nearly half of respondents said they feel anxious or frustrated about money, and more than a third said their financial situation affects how they see themselves.
Emotions can drive poor decisions
The connection between money and mood isn’t new, but Wealth Enhancement’s findings show how deeply intertwined they’ve become. When people feel anxious or sad, 39% admit they spend money to feel better. This is usually a short-term fix that often leads to more stress. Others cope by avoidance, delaying financial decisions, or ignoring accounts altogether. Only 17% said they feel completely in control of their financial future.
This isn’t about intelligence or discipline. Behavioral finance research shows that human brains are wired for short-term comfort, not long-term optimization. We avoid what feels threatening and chase temporary relief, even when it undermines our goals. Over time, avoidance becomes habit and anxiety deepens.
Moving from avoidance to engagement
Our experience suggests that reducing financial stress begins with awareness. Recognizing how stress affects decision-making can help people interrupt the cycle. One helpful shift is to view money as a tool, not a test. Many people equate financial success or failure with personal worth. Reframing that mindset can be powerful. Money is simply a resource, a way to support the things that matter most.
Conversation also helps. Nearly half of survey respondents said they’ve talked about financial stress with a family member, partner or friend. Those conversations, once taboo, can provide relief and perspective. Stress thrives in silence; dialogue diffuses it.
Managing the emotional side of wealth
Wealth Enhancement’s Mood & Money survey underscores an essential truth: financial well-being and emotional well-being are inseparable. Numbers don’t create stress; uncertainty does. When people have a plan, a process, and a trusted guide, that uncertainty fades.
If you’ve found yourself hesitating before opening a statement or checking your balance, you are not alone and are not stuck there. Start with one small act of engagement: review a recent statement, talk with someone you trust, or schedule a conversation with a financial adviser.
In this regard, one finding stands out: working with a financial adviser makes a measurable difference. Among those who have met with an adviser, 88% said they felt less stressed afterward. That reduction in stress comes from gaining clarity and confidence. Working with a trusted adviser can help transform vague financial worries into specific steps, such as repaying debt, rebalancing investments, or creating a plan that aligns with personal goals. Just as importantly, advisers can provide perspective when emotions threaten to take over.
Small steps can restore something larger than financial order. They can bring back a sense of calm, confidence and control, the real foundations of lasting financial wellness.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Bruce Helmer and Peg Webb are financial advisers at Wealth Enhancement Group and co-hosts of “Your Money” on WCCO 830 AM on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com. Advisory services offered through Wealth Enhancement Advisory Services LLC, a registered investment adviser and affiliate of Wealth Enhancement Group.
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