Half of Americans ages 25 to 34 said worrying about finances negatively affects their health, while 53 percent of the same group said money worries have a negative effect on their relationships, according to new survey data exclusively provided to CNBC by E-Trade Financial.
"Our biggest challenges as a generation are financial," said certified financial planner Douglas Boneparth, co-author of the book, "The Millennial Money Fix."
Debt — in particular, student loan debt — has emerged as a major source of stress for under-35 Americans.
"What student debt has effectively been doing is putting off our ability to achieve some of these things we want," said Boneparth, who is also the president of Bone Fide Wealth in New York City. "Buy a house, start a business — we grow up thinking these things are the American dream, and we're having a very hard time getting to them because we see a lot of this money going towards servicing student loan debt."
A rapidly shifting job market and lack of wage growth adds to stress from the high cost of education, Boneparth said.