Finances are a common source of stress, experienced by most of us at some point in our lives – and likely will again. Stress itself is a natural human reaction, regardless of the source. However, once it becomes a regular or ongoing experience, it can create more serious health issues.

Financial stress, while common, is something you can take steps toward controlling. April is National Financial Literacy Month, a time dedicated to helping individuals build the knowledge and skills needed to make informed and effective financial decisions. It also coincides with Stress Awareness Month, making it the perfect opportunity to explore how understanding your finances can directly support your mental well-being.

Why Financial Literacy Matters

Financial literacy includes budgeting, saving, investing, managing debt, and planning for the future. When you have a clear grasp of where your money is going and how to make it work for you, you become empowered and gain a sense of control.

Unfortunately, many Americans report feeling uncertain about their finances. According to the Financial Industry Regulatory Authority (FINRA), only about one-third of adults can correctly answer basic financial literacy questions. That knowledge gap can lead to costly mistakes, missed opportunities, and ongoing stress.

The Link Between Financial Stress and Overall Health

The American Psychological Association (APA) consistently finds that finances rank among the top stressors year after year. The physical impacts of this stress contribute to sleep problems, anxiety, high blood pressure, and even weakened immune function.

A 2023 report from PwC’s Employee Financial Wellness Survey found that financially stressed employees are more likely to experience distractions at work and report lower overall well-being. In other words, financial stress doesn’t leave you alone; it can follow you into every part of your life.

This is where financial literacy steps in: Studies show that individuals with higher financial literacy tend to feel more confident in their financial decisions and report lower levels of financial anxiety. When you understand your options and have a plan, uncertainty decreases and with it, stress.

Simple Steps to Get Started

Improving your financial literacy doesn’t require a complete overhaul overnight. Small, consistent steps can make a big difference:

• Track your spending to understand where your money goes
• Create a realistic budget that aligns with your priorities
• Build an emergency fund, even if you start small
• Take advantage of employer benefits like retirement plans or financial wellness tools

You should also seek guidance from financial professionals or trusted resources, and as a Transocean employee, you have resources at your fingertips with your financial benefits through Fidelity. Whether it’s through individual consultations, webinars, or group workshops, Fidelity works with you to help ensure your money works for you.

A Month to Take Control

National Financial Literacy Month is a reminder that it’s never too late, or too early, to take charge of your financial future. By learning more about how money works, making intentional choices, and taking advantage of your financial benefit resources, you can reduce stress, improve your overall well-being, and feel more confident about what lies ahead. Knowledge really is power, and it’s yours for the taking.