The Gist: Over half of Georgia residents are experiencing considerable financial stress, thanks in large part to rising prices.
The Details: USA Today Blueprint’s comprehensive report on the effect of rising prices on personal finance reveals that Georgia residents are the seventh most financially stressed group in the country. With 51% of people claiming they are “very stressed,” the state faces a significant burden.
By The Numbers:
- 51% of Georgia residents claim they are “very stressed” financially
- Only 4% of people report no extra financial stress due to rising prices
- The age group experiencing the highest levels of financial stress is ages 40-54
- Black and Hispanic communities are hit hardest by financial stress
Why It Matters: The ripple effect of rising prices on personal finance can be felt across the board, with communities of color, in particular, bearing the brunt of the impact. Financial stress can have serious mental health implications, leading to anxiety and depression, which can negatively affect individuals and entire communities.
What’s Next?: The report offers a series of money-saving strategies, which residents can implement to lessen the financial burden. These strategies can help alleviate the stress caused by rising prices, giving Georgians a roadmap to better personal finances.
The full report on the effect of rising prices in Georgia and across the country can be found at http://www.usatoday.com/money/blueprint/banking/most-financially-stressed-states/.
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