MILWAUKEE — A new study by Northwestern Mutual found that many Milwaukeeans are feeling anxious about financial uncertainty.
“Individuals in our community have made it clear that financial uncertainty is affecting their everyday responsibilities and lives,” said Matthew Grube, managing director of Northwestern Mutual – Mequon District Office, in a release. “Financial insecurity can weigh you down, leaving you disconnected from the parts of your life that matter the most.”
At least 76% of Milwaukeeans said that finances have made them feel depressed and anxious. That exceeds that national average of 63%, according to the study.
Sleepless nights are something nearly two in three Milwaukeeans say they experience as a result of money worries. A little under half said finances have made them physically ill.
But some of the anxiety about finances is extending beyond personal impacts.
About 65% of Milwaukee residents that are living with or married to their partner said uncertainty about finances has affected their relationship. It’s also affected job performance or social events.
More than half of people in the study said money worries made them miss a social event and also affected their job performance.
The 2025 study also revealed that finances are now significantly outranking physical and mental health as a “greatest weakness.”
“The survey revealed that over half of all Milwaukeeans lack confidence in their financial situation – an issue that our community and financial industry need to address,” said Grube.
When asked to describe how “strong” or “weak” they felt about aspects of their lives, more than half of Milwaukeeans said their finances were “weak.”
Comparably, only 32% said they had shaking feelings about their mental health and 28% said that about physical health.
The Harris Poll conducted the 2025 Planning & Progress Study on behalf of Northwestern Mutual. It surveyed 4,626 U.S. adults 18 and older between Jan. 2 and 19, 2025.
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