Abstract

Financial stress is a complex and pervasive issue affecting individuals across various socio-economic backgrounds. This paper explores the dual perspectives of financial stress: self-driven, where individual behaviors and decisions play a significant role, and fate-driven, which highlights the influence of external, uncontrollable systemic factors such as economic instability, income inequality, and social discrimination. This article reviews existing literature on financial literacy, personal financial management, and macroeconomic forces to provide a comprehensive understanding of how these elements contribute to financial stress. It also examines the psychological concept of locus of control, which influences how individuals perceive and cope with financial stress. By integrating both personal and systemic viewpoints, this article offers a holistic approach to addressing financial stress and proposes policy recommendations that consider both individual responsibility and broader economic challenges.

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