Net worth matters more than income when it comes to financial anxiety, survey finds

Making more money may seem like the answer for dealing with financial stress and anxiety. But new data indicates that boosting income alone may not help much. A new survey of 1,875 U.S. adults by investing app Acorns found financial anxiety does not significantly decrease as incomes rise. What did help ease respondent's minds, based on the survey results, was having a higher net worth , found by subtracting a household's liabilities from its assets. Just over half (51%) respondents earning less than $20,000 a year reported feeling financially anxious, while 46% of people earning between $60,000 and $80,000 a year reported the same, Acorns found. Sixty-five percent of Americans with a negative net worth (more debt than assets) reported experiencing financial anxiety. Forty-three percent of those with no debt and assets and 47% of those with a net worth between $75,000 and $250,000 said the same. "What we're talking about with a lower net worth is honestly how much money do you literally have, and what could you have the potential of pulling from if you 100% needed to," says Aja Evans, a financial therapist. "If you have a lower net worth, then there may not be as many areas for you to get the necessary cash, and that can really increase people's financial anxiety." How net worth affects financial stress The survey findings offer more insight into the widespread financial stress and anxiety Americans are grappling with. …