OnePoll conducted a survey commissioned by Beyond Finance for Mental Health Awareness Month that found that Americans are embarrassed about their financial situation. The poll of 2000 respondents found that two in three Americans try to keep their financial troubles a secret. Another 66% avoid social events due to the shame related to their finances.

Among the events Americans have been avoiding are networking events (31%), happy hours (31%), weddings (32%), and birthday parties (33%). For many of the participants (56%), the inflation and increased gas prices have worsened their financial situations.

Americans cope with their financial stress inappropriately

Americans tried to employ different coping strategies to deal with their economic issues. However, not all of them were positive. For instance, 67% of respondents would stress shop when they were overwhelmed about money. As a result, they bought unnecessary items.

Some of the things the respondents purchased are items they own already (48%), accessories and clothing (50%), fast food (51%), and collectables they weren’t interested in (51%).

Other ways the participants dealt with their financial woes are avoiding by thinking or looking at bills (35%) or blaming themselves for their misfortunes (35%).

About 61% didn’t feel they had enough money to enjoy their lives. This sentiment was most likely held by Northeasterners (75%) and people who earned less than $30,000 (78%).

Most of the respondents held the opinion that earning $86,000 would help them lead a comfortable life. However, others believed they would still be stressed if they made over $1 million. About 57% of respondents thought that having more money would cause stress.

Americans are ashamed to ask for help

Unfortunately, many Americans felt uncomfortable asking for assistance when faced with financial strain (61%). About 51% were embarrassed about having financial difficulties, while 58% thought they were alone with their problems. Americans tended to talk about these problems with their significant others (39%) or a therapist (29%).

About 8 in 10 admitted to dealing with debts. These debts have had a significant effect on their self-esteem. They have also impacted their physical health (38%) and work performance (38%). The average participant also believed they would need at least 38 years before they could clear their credit card debts.