Debt is the No. 1 source of financial stress in Hawaii

GoBankingRates: 

If you have money issues, you’re not alone. A recent GOBankingRates survey found that many Americans tap into their emergency savings to cover home costs, medical emergencies and even cost-of-living increases. But, are these expenses causing Americans more financial stress?

To pinpoint what’s causing the worst financial fears and stress among Americans today, we surveyed more than 2,000 people in all 50 states and the District of Columbia. We asked, “What is your No. 1 cause of financial stress?” Respondents could choose one of the following answers:

• Education (ex. college costs)
• Family (ex. child care costs, divorce)
• Housing
• Healthcare
• Taxes
• Everyday costs (ex. groceries, utilities)
• Debt

The most common cause of financial stress in America is everyday costs of living, with 32 percent of total respondents saying it’s their No. 1 money stressor. This marks a change from similar surveys conducted in 2016 and 2017 when debt was the most common financial stressor.

Click through to find out what’s causing Americans financial stress in every state.

HAWAII: Nearly 67 percent of survey takers from Hawaii said debt is their No. 1 cause of financial stress — and it’s also the state with the most average debt per person. A separate GOBankingRates survey found that the average debt in Hawaii is a whopping $869,250.

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