Americans would rather talk about religion and politics than about finances, according to a Wells Fargo survey.
Forty-four percent of the 1.004 adults surveyed said the most challenging topic to discuss with others is personal finances, while smaller percentages cited death (38 percent), politics (35 percent), religion (32 percent), taxes (21 percent) and personal health (20 percent).
Financial concerns plagued many respondents, with 39 percent saying that money is the biggest stress in their life and an equal percent saying they are more stressed about finances now than they were last year.
One-third of Americans report losing sleep worrying about money and 49 percent say they have regrets about their savings and spending habits.
Thirty-five percent of the respondents said determining the right approach to saving and spending is the most difficult part of managing finances and an equal percentage said sticking with a plan is difficult.
“There is a lack of understanding about the importance of designing a plan. Only a third of adults have some type of financial plan or a simple household budget in place, which means most Americans don’t have the roadmap needed to improve their financial health,” said Karen Wimbish, director of retail retirement at Wells Fargo.