Money worries affecting working parents’ sleep

ALMOST half of all young working parents are so concerned about their finances they are struggling to sleep, worrying about paying for medications and canceling their health insurance.

A survey released yesterday has given further support to the claim the economic crisis is causing havoc with the nation’s mental health.

According to the Irishhealth.com survey, the vast majority of people remain deeply worried about the crisis, despite Government claims.

The survey, based on responses from 1,578 people between November 27 and December 1 and overseen by the Research Centre, has found that financial, employment and health concerns related to the economic situation are apparent across society.

However, despite the cross-age group crisis, the findings have warned that among the worst affected are young couples aged between 25 and 39, who are expected to suffer further setbacks in today’s budget.

According to the survey, 42% of 25-39-year-olds have “recently found themselves crying or feeling tearful over financial and employment concerns”.

A further 50% of the age group reported “disturbed sleep” in recent weeks due to financial concerns, while 53.5% said they had deliberately cut back on over-the-counter medications and feared the Christmas festivities could push them further into debt.

The figures are significantly higher than those for the under-25 and over-55 age groups who, according to the survey, are suffering from the economic downturn but not experiencing the same level of difficulties.

Those behind the study found that while these groups are also facing financial issues, they are not suffering as much from disturbed sleep or rising bills — a situation researchers said was because they were unlikely to be responsible for the well being of a young family.

The survey also found women are significantly more pessimistic than men about the possibility of an economic recovery.

Of the individuals who were surveyed, almost 25% of all men said they believed the country’s finances will return to a pre-downturn level in the near future.

However, when asked the same question, less than 17% of women felt the situation will improve.

Pay cuts were also found to be widespread nationally, with 71.5% of people reporting that either they or their spouse have taken pay cuts or been threatened with them by their employer.

When asked, a further 38% of respondents agreed with the statement: “I think Ireland improved during the boom and I fear it may go backwards now”.

* Full details of the survey can be found at www.irishhealth.com