I’ve lost sleep over a lot of things… worrying, being sick, drinking too much, insomnia… they’re all things I’ve experienced, but losing sleep over money, that’s something I have yet to meet. One of the benefits of living frugal is not having many debts and thus not many money worries. Living small lets me sleep like a baby most nights! I hope my snoring doesn’t keep up the neighbors.
However, there are those of us who are tossing and turning every night worrying about the next mortgage payment, those overdue doctor bills or maybe even the loan shark coming after them! It’s also hard to catch sleep when bill collectors are calling at all hours demanding you pay. One can begin to feel helpless when you owing money without a means to pay. I know that would keep me up at night.
I recently read an article on CNN about a study done regarding those of us who are losing sleep due to money. Shocked would be the best way to describe my reaction when they said that 9 out of 10 American workers are losing sleep over money. That’s huge!
So what topics are they losing sleep over?
- Cost of Living – 30%
- Credit Card Debt – 29%
- Mortgage Payment – 14%
- Retirement Savings – 13%
- Children’s Tuition – 3%
- Health Care Costs – 3%
So now that we know they’re losing sleep, what’s the best remedy for to catch some zzz’s?
All of the above problems relate to not having, or not making enough money, so the obvious solutions are:
- Make more money.
- Spend less money.
I know, I know… not exactly genius advice, but it’s true. If these folks wanted to get more sleep at night, which is incredibly important to their overall health (which by the way is more important than money), I’d recommend they create a budget, live below their means, and find ways to earn additional side income. Until then, they’ll be tossing and turning their poor sheets all night.
Image from THEfunkymanM