BTN News: In an innovative step towards addressing the intertwined issues of mental health and financial stress, Ally Financial Inc. has partnered with Calm, a leader in mental wellness, to support individuals across the United States. With more than half of Americans reporting monthly stress over their financial situation, this collaboration aims to offer solutions that improve both financial habits and mental well-being. As part of this initiative, Ally is offering over one million free 3-month Calm trials to the public, and a full year of Calm premium subscriptions to its customers.
The Growing Impact of Financial Stress on Mental Health
Recent surveys by Ally Financial show that financial anxiety is a leading cause of mental health struggles in America. In fact, 46% of Americans report that their financial worries impact their daily lives, with Gen Z (52%) and Millennials (50%) being the most affected. The stress of managing money can disrupt sleep, harm mental health, and strain personal relationships. Alarmingly, 65% of people report that financial stress is directly harming their mental well-being, and over half (54%) say that merely thinking about their finances triggers anxiety.
Ally’s Commitment: Free Calm Subscriptions and New Wellness Tools
As part of the collaboration with Calm, Ally Financial is offering over a million free 3-month trials to Calm’s app, which provides mindfulness tools, meditation, and stress relief resources. For Ally’s own customers, there is an exclusive offer of a one-year premium Calm subscription, aimed at helping individuals better manage both their mental health and their financial well-being. This offer comes at a critical time, with 51% of Americans saying they cannot cover a $500 emergency expense without going into debt.
To further support this effort, Ally is creating a customized playlist within Calm focused on financial wellness, featuring guided meditations that address the emotional toll of financial stress.
Ally Money Roots: A New Approach to Financial Wellness
In addition to the partnership with Calm, Ally has launched Ally Money Roots, a program designed to take financial education beyond traditional methods. This free initiative, based on the psychology of money, provides an interactive curriculum that helps people understand their relationship with money on a deeper level. By focusing on mindfulness practices and emotional triggers tied to financial decision-making, Ally Money Roots aims to cultivate healthier financial habits.
Unlike conventional financial education, which often centers on budgeting or saving tips, Ally Money Roots delves into the behavioral patterns that influence spending and saving, helping individuals address the root causes of their financial stress.
Financial Stress: A Nationwide Crisis
According to the survey conducted by Ally, 60% of consumers feel they lack confidence in their current financial situation, with many finding it nearly impossible to save. The burden of financial stress is widespread, affecting everything from people’s health to their relationships and daily routines. Specifically:
- 66% of respondents report sleep issues due to financial worries.
- 65% say their mental health has been negatively impacted.
- 52% feel that personal relationships suffer due to financial anxiety.
The data paints a clear picture of how deeply money worries are embedded in the everyday lives of Americans, and why a focus on mental wellness alongside financial health is so essential.
Expert Insights on Financial Well-Being
As part of the collaboration, Ally and Calm will also feature financial wellness content, including a conversation with Kelley Long, a renowned financial wellness expert, and Jack Howard, Ally’s Director of Financial Wellness. Their discussion will offer actionable tips for reducing financial stress and creating a healthier relationship with money.
How to Access the Calm Trial and Financial Wellness Resources
Consumers interested in improving their financial health and mental well-being can sign up for the free Calm trial by visiting Ally’s website. There, users will also find additional resources related to Ally Money Roots, including exercises that blend mindfulness and financial planning. These tools are designed to help users manage financial stress more effectively, and build long-term financial habits that support their overall well-being.
A Bold Step Towards Financial and Mental Wellness
By joining forces, Ally Financial and Calm are making a significant impact on how Americans view both their mental and financial health. The initiative not only underscores the importance of mental wellness in financial decision-making, but also aims to provide accessible tools that promote both healthier finances and a healthier mind.
For more information on how you can start your journey towards financial mindfulness, explore Ally’s custom Calm playlist and Ally Money Roots program today.
Conclusion:
As financial stress continues to impact millions of Americans, the collaboration between Ally Financial and Calm provides a timely and valuable resource for managing both financial and mental health. With a focus on wellness and mindfulness, these tools aim to foster healthier financial habits and reduce the burden of money-related stress.
