This idea is supported by a recent poll commissioned by Union Bank and conducted by Harris Interactive. Of the poll’s respondents, 90 percent said that financial problems can have an effect on a person’s health through an increased level of stress.
The poll also showed that consumers may not have the best ideas on how to find debt relief, as 61 percent of respondents said they do not have enough savings put away in order to deal with issues that may come up in 2010. Furthermore, 60 percent said that though saving money is something they would like to do, they don’t have money at the end of the month to put away.
“Ensuring fiscal fitness can be every bit as difficult as getting back into good physical shape after a long period of inactivity, and while many Americans may spend time and energy accumulating wealth, many spend little time developing a sufficient plan to offset risks they might face along the way,” Pierre Habis, executive vice president for Union Bank, said.
The bank noted that there are a number of ways for consumers to try and focus on saving money. One thing they may do is direct deposit some of their income into a savings account, which could help people start building funds. Furthermore, people may concentrate on reducing how much they spend on unnecessary expenses.
Some unneeded expenses including impulse purchases at grocery stores or going out for entertainment. Other ways consumers may be able to save money include reducing their cable or cell phone packages. Doing so may give consumers more cash to find debt relief or further their goal of saving money.
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