Economic stress

Economic stress refers to a situation where individuals, families, businesses, or governments face financial difficulties, such as reduced income, increasing debt, or declining assets. This can lead to worries about meeting payment obligations, maintaining employment, or funding essential services. Economic stress often results from broader issues like recession, inflation, or economic downturns, impacting overall financial stability. It can cause anxiety, decreased spending, and efforts to cut costs, which may further slow economic growth. Recognizing and managing economic stress involves understanding these challenges and seeking strategies to improve financial resilience.