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Not everyone experiences the same money concerns in equal proportion.
However, if youve ever felt stressed about your finances, just know youre not alone.
GOBankingRates also conducted a survey to determine the five biggest money-related concerns Americans have in 2024.
Here are the results andsome expert advice on how to solve them.
The top money concerns highlighted in this survey are not surprising.
I hear the same ones expressed in my office often.
When someone decides to take control of their finances, there really is no secret formula for success.
It takes motivation to get started and discipline to keep going.
So, what can someone do about this?
Not having enough money comes down to how valuable someone is to anemployer or customer, said Scott.
If you create true value, compensation should follow.
These methods arent for everyone, and they wont work in all cases, but theyre a start.
Money is hard to save, no question.
But its also indispensable for financial stability.
Consider setting up automatic transfers from your checking account to your savings account every payday.
Not being able to save money comes down to delaying gratification, added Scott.
Someone struggling with this needs to determine why they are delaying gratification.
But whether you owe $1,000 or $100,000, debt can be the source ofsome major anxiety.
You could also condense your high-interest debts into one, lower-interest loan.
Try not to overwhelm yourself by tackling all of your debts at once.
Start with one at a time and go from there.
But learning how to do it which, admittedly, can take time is key to your financial well-being.
Track your income and spending for a few months.
Write down every expense, no matter how small it might seem.
That $1.79 you spent at the gas station on a bottled soda?
The $77.87 grocery bill?
At the end of each month, tally up everything to determine how much you spent and on what.
This will help you understand where your moneys going and where you might be able to truly cut back.
Kullberg also suggested differentiating between your wants and needs to avoid unnecessary spending.
But small or not, this is still an important money concern that should be addressed.
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