NJ residents among the most worried about inflation in America
💵 Worried about inflation? Join the club
💵 Many residents of NJ admit they’re very concerned about price hikes
💵 There are ways to help calm yourself down
Are you always thinking about making ends meet?
Inflation is now down to 4.9% after topping 9% last June, but a lot of Garden State residents are still quite worried about how much prices are rising.
A new analysis finds 51% of New Jersey residents are very stressed financially, that’s the 7th highest percentage (tied with Georgia) of any state in the nation.
The USA Today Blueprint analysis finds only 4% of people believe rising prices have not added any additional financial stress to their lives.
A lot of people are very stressed
Across the nation, 47% of Americans say price increases have caused them to feel “very stressed” about their financial situation.
The state with the highest level of stress about rising prices is Mississippi, where 57% of residents feel very stressed about inflation.
About 35% of people living in Vermont are very stressed about prices, the lowest percentage of any state in the nation.
Financial stress by age
The report finds:
— 53% of those between the ages of 40 and 54 report being very stressed out by price increases
— 51% of those between 25 and 39 are very stressed out by price increases
— 47% of those between the ages of 55 and 64 are very stressed out
— 42% of those 18 to 24 are very stressed out by price hikes
— 36% of those 65 and older report being very stressed out by price increases
— 59% of Hispanics say they’re very stressed out by price increases, while 55% of Blacks also feel very stressed by price hikes. 42% of Whites and 40% of Asians say they are very stressed out by inflation
— The analysis finds those with lower education levels are more stressed by price hikes than those with more education. 63% of people with no high school degree report being very stressed while 31% of those with a college degree say they are stressed out by rising prices.
— 53% of adults with children in the household report being very stressed by price hikes, while 42% of adults with no kids report a similar level of stress.
To deal with financial stress the report recommends
• Reducing your credit card debt
• Increasing your savings
• Plan for the long term