Money Worries Interview with KGMI Radio Bellingham, WA
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Friday, June 26, 2015, with Joe Teehan of KGMI Radio Bellingham, WA about the results of the June 2015 Money Worries survey. The interview and transcript are below.
Joe Teehan: I remember seeing a post on Facebook one time. “My Pillow – that magical thing that instantly makes me think of all my troubles. And many of those troubles we worry about and lose sleep over are money worries and joining us now to tell us what most of us are worrying about is Senior Industry Analyst Matt Schulz. He’s with CreditCards.com. Hi Matt.
Matt Schulz: Hi there, how ya doing?
Teehan: Good, thanks. Most of us are losing some sleep, anyway, over money problems.
Schulz: Yeah, we’re definitely losing less sleep than we did in the Great Recession, but we’re not resting quite as peacefully as we did before that. About 62% of Americans are losing sleep over at least one financial problem, and that’s down from about 70% in 2009.
Teehan: Well, that’s some good news, anyway. I guess we’re just a little bit more at ease with the recession behind us. But what are we worrying about? Are there specific money issues that are concerning us?
Schulz: Definitely. Retirement’s the biggest worry, but worries about education expenses are growing like crazy, too. And at this rate paying for school could soon be America’s biggest financial worry.
Teehan: Do you think our worries are founded or is it mostly because we’re seeing so much of this in the media that we’re reminded time and again how expensive it is to pay for school?
Schulz: Well, I think that these are real worries and that’s understandable that people would worry. People tend to lose sleep over things that feel out of their control, and it’s important if you are losing sleep, to take some sort of action to feel more in control of these things.
Teehan: Yeah that’s what I was going to ask you, how can we get around this, how can we be more at ease, be relaxed when we lay down and go to sleep.
Schulz: Sure, even small things can help. Make a budget, cut back on some expenses because it really is all about having more money. They say money can’t buy you love or happiness, but our survey seems to show that it can buy you a better night’s sleep.
Teehan: It does as the folks with a higher income or maybe more money stashed away if they’re retirees, they’re sleeping a little bit better at night.
Schulz: Exactly. The folks who are less likely to be losing sleep are those who are 65 and older and also those who are making $75,000 or more a year.
Teehan: Alright well, that means I’m going to lose some sleep. And folks you can find out more at CreditCards.com. Industry Analyst Matt Schulz with us this morning. Thanks so much, Matt.
Schulz: Thank you.