MoneyLion and Mastercard New ‘Health is Wealth’ Report Uncovers the Hidden Physical Costs of Financial Stress

MoneyLion and Mastercard have released new findings in their Health is Wealth Report, underscoring the connection between financial knowledge and overall well-being. The new data showcased in the report, which is based on a recent survey conducted by The Harris Poll, indicates that financial stress is intertwined with physical and mental health and wellness, suggesting that accessible and effective financial literacy education could help alleviate both physical and mental health challenges. The report is part of the broader MoneyLion x Mastercard Health is Wealth campaign, which coincides with Financial Literacy Month and Physical Wellness Month (April). 

Key findings from the report highlight the link between financial and physical well-being, including:

• The cost of financial stress: 66% of U.S. adults have experienced physical symptoms due to financial stress, with trouble sleeping (40%) and headaches (37%) being the most common complaints.

• Skipping self-care: Nearly 6 in 10 U.S. adults (59%) say they have skipped health-related activities—such as doctor visits (25%) or joining a fitness center/taking a fitness class (17%)— due to financial concerns.

• Inflation hits hard: 67% say inflation has negatively impacted their physical or mental health, citing increased stress (38%), anxiety (36%) and difficulty affording healthy food (30%) as top impacts.

• Education as the first step: 75% of U.S. adults say they would be healthier if they improved their financial literacy, and 22% believe better financial knowledge would enhance their physical appearance. U.S. adults who say they are confident in their financial literacy are also significantly less likely (63% vs. 80%) to say they have experienced physical symptoms as a result of financial stress than those who say they are not confident.

• Barriers to learning: 56% of U.S. adults say they face barriers to learning about money and personal finances, with not being sure where to start (21%) and hard-to-understand resources (15%) being the top obstacles. About 1 in 8 U.S. adults say not having enough time (13%) or resources being boring (12%) are among their biggest barriers to learning about money and personal finances.

• Personalization, ease, and incentives: 79% of U.S. adults say there are factors that would make them more likely to want to engage with financial education, such as it being personalized to their financial situation (40%), short, easy-to-digest content (39%), incentivized (39%), or gamified (22%).

• Financial literacy in schools: An overwhelming 90% of U.S. adults say that financial literacy should be a required subject in schools, just like physical education or math.

The report also examines the practical steps that businesses and financial institutions can take to incorporate these insights into their content strategies to help improve consumers’ financial literacy. As businesses, financial institutions, and content creators seek to engage consumers, the findings suggest a critical opportunity: Empowering consumers with personalized, easy, and accessible financial knowledge could drive real improvements in their health and quality of life.

The white paper is part of MoneyLion’s larger Health is Wealth campaign, which also features interactive financial literacy content designed to provide actionable solutions for consumers to take control of their financial health while also addressing their physical health.

A key highlight of the initiative is the new FinFit series of short videos that blend personal finance education with guided workout routines. Covering various exercises, these sessions will integrate lessons on credit, investing, budgeting, and retirement planning, enabling users to sharpen their money knowledge while toning their bodies.

The campaign also invites U.S. adults to join MoneyLion’s Money Master daily financial learning game,* which rewards users with daily points redeemable for cash as well as the chance to win $5,000.

FinFit and Money Master are available for free in the MoneyLion app.