Decades of research have shown that when stress levels rise, people are more likely to turn to substances for relief. Surveys conducted in the US confirm that as individuals face more life stressors, their alcohol and substance use tends to increase. This pattern holds true for both men and women throughout their lives. Financial strain stands out as one of the main stressors influencing alcohol and substance use among adults. It's been identified as a major factor leading to heavier alcohol consumption. Similarly, individuals facing financial difficulties who use nicotine products are often eager to quit but struggle the most to succeed in quitting.
When adults facing financial difficulties use substances as a coping mechanism, it often leads to a harmful cycle. While these substances might temporarily ease financial stress, they often result in increased spending, exacerbating the strain on finances. So, while enjoying a few drinks at home or with friends might provide a brief escape from money worries, it's essential to consider the long-term financial impact.
The Financial Implications of Alcohol Coping
Let's examine the financial toll of a few drinks over time. Meet Zac, Maggie, and Carolyn—three professionals who turn to alcohol after a demanding day.
When Zac, an IT specialist, comes home from work he likes to enjoy 2 craft beers about 3 times a week (~$12). On the weekends, he goes out with friends and has an average of 3 craft beers at a bar, restaurant, or beer garden (~$30). That’s an average of $42 per week, $168 a month, or $2,016 a year.
Maggie, who works in marketing, finds herself coming home after work and relaxing with 1-2 glasses of wine during and after dinner with her partner on many nights of the week. Together, they consume about 3 bottles of wine each week (~$45). Every other weekend they enjoy going out to dinner or other events with friends, where they each generally enjoy a glass of wine ($12 x 2) and a cocktail ($10 x 2). That’s an average of $268 a month, or $3,216 a year.
Carolyn, general manager of a large retail chain, doesn’t generally drink alcohol at home but does go out on Thursday, Friday, and Saturday nights with friends to a few different local bars. On Thursdays, Carolyn tends to drink about 3 domestic beers ($15). On Fridays, she drinks about 2 domestic beers ($10) and 3 cocktails ($10 x3). On Saturdays, she drinks about 2 domestic beers ($10) and 4 cocktails ($10 x 4). That’s an average of $105 per week, $420 a month, or $5,040 a year.
Exploring Healthier Coping Strategies
Considering the financial strain of alcohol consumption, it’s worth exploring healthier alternatives for stress relief. Here are some cost-effective ways to decompress without breaking the bank:
Engage in free community events or activities.
Exercise outdoors at a local park.
Volunteer for a local organization.
Host a weekly game night with friends.
While alcohol may offer temporary relief from financial stress, its long-term cost can be significant. By embracing healthier coping strategies, you not only safeguard your wallet but also prioritize your well-being. So, next time stress hits, consider reaching for a game controller or a yoga mat instead of a bottle. Your mind, body, and bank account will thank you.
While the price of alcohol can fluctuate dramatically based on geographic region and beverage type, these estimates represent overall US averages.