• Financial stress is a leading contributor to farmer mental health challenges and elevated suicide risk, driven by long-term losses in key crops like peanuts and cotton.

• Research shows that financial education, especially on disaster assistance and government programs, significantly reduces farmer stress and supports long-term stability.

• Integrating financial planning into agricultural wellness efforts can help prevent crises, empower farm families to manage risk and strengthen rural community resilience.

Across rural America, the struggles of farm families go far beyond the fields. While farmers often speak of weather, pests or prices, research shows that what weighs most heavily on their minds — and their health — is money. Financial stress is emerging as one of the most critical factors in farmer wellbeing and suicide prevention.

Farmers already face suicide rates 3.5 times higher than the national average, according to the Centers for Disease Control and Prevention (CDC). Economic pressure is one of the leading contributors. When a family’s livelihood and land are tied directly to market swings and debt, financial strain can feel like a personal failure rather than a business challenge.

Economic pressures in agriculture

Data from Yangxuan Liu, associate professor in the Department of Agricultural and Applied Economics at the University of Georgia’s College of Agricultural and Environmental Sciences (CAES), highlights how deep the economic challenges run. For nearly three decades, U.S. peanut and cotton growers have rarely earned enough to cover production costs.

From 1995 through 2023, peanut farmers posted profits in only five of those 29 years, losing an average of $57 per acre overall. Cotton producers fared even worse: from 1997 through 2023, they saw positive returns in only four years, averaging $94 per acre in losses.

These figures exclude government payments and crop insurance, meaning the numbers reflect what farmers earned — or lost — on the ground. The findings underscore what many producers already know: rising input costs, equipment expenses and stagnant crop prices have left entire sectors operating at a loss for most of a generation.

Those sustained deficits don’t just affect balance sheets. They ripple through entire communities, threatening the long-term sustainability of agriculture. They also contribute to the quiet, personal crisis many farmers face: chronic stress that can lead to anxiety, depression and, in some cases, suicide.

The link between finances and mental health

A 2025 study by UGA researcher Anna Scheyett and colleagues confirms how closely finances and mental health are intertwined. The study surveyed 310 farmers at two commodity conferences to identify which financial topics could most effectively reduce stress. Nearly every topic, ranging from debt management to tax planning, was rated as helpful, but two stood out above the rest: disaster assistance programs and government financial support programs.

These findings reveal that farmers don’t just want emotional support, they want tools, information and guidance that help them regain control of their finances.

“Financial literacy and access to reliable resources are mental-health interventions for farmers,” said Scheyett, a specialist for UGA Cooperative Extension.

In December, Scheyett was recognized by the Georgia Department of Behavioral Health and Developmental Disabilities (DBHDD) with the 2025 Flame of Hope Award. Selected from more than 250 nominations and one of only 10 recipients statewide, she was honored for her consistent, practical efforts to strengthen hope and support in Georgia’s behavioral-health system, especially through her work with rural communities and farm families.

Why financial education matters

Surveyed farmers emphasized that general stress-management advice, like mindfulness or breathing exercises, can’t solve the root problem when financial realities are dire.

“Farmers may receive general stress management advice, like deep breathing, but if their financial house is on fire, such techniques are insufficient,” Scheyett said. “Addressing financial issues directly can significantly reduce stress and prevent feelings of desperation.”

Financial education, when integrated into wellness programming, offers farmers practical ways to lower stress. It helps them navigate programs that can stabilize operations after disasters, plan for succession and manage debt before it becomes unmanageable.

The research also found generational differences. Younger farmers were more likely to rate financial topics as “very helpful” compared to older ones. Many younger producers are entering agriculture with higher debt and less experience, leaving them more financially vulnerable. That insight suggests that effective outreach must be tailored, offering mentorship, simplified program information and age-specific financial planning tools.

The rising tide of financial distress

Economic indicators mirror the stress researchers are hearing in the field. Between July 2023 and June 2025, U.S. farm bankruptcy filings rose 55.8%, with the Southern region accounting for over one-third of those cases. These aren’t abstract statistics, they represent families losing land, homes and livelihoods.

The toll extends beyond bank accounts. As financial pressures intensify, farmers may work longer hours, neglect health care and withdraw socially. Many cope in silence. Studies show that more than 60% of farmers still view stigma as a barrier to seeking mental-health support, even as awareness improves.

“People outside of agriculture have perceptions that government subsidies are going to keep people doing just fine and that crop insurance is going to take care of anything that gets damaged. They don’t understand that not every crop can be insured or that crop insurance doesn’t pay 100% of value,” Scheyett said. “Crop insurance is also very expensive and not everybody can afford it. I think that adds to the pain of being a farmer because you’re busting your butt and barely breaking even. Or you have a great year — but then you have six bad years. People don’t understand what you’re going through.”

Gender differences further complicate the picture. Women farmers report depressive symptoms up to four times higher than men, while male farmers face a suicide risk 50% higher than men in other occupations. Both patterns are linked to financial strain and the social isolation common in rural life.

Building a culture of prevention

Effective suicide prevention in agriculture must address finances and mental health together. That means embedding financial education within the places farmers already gather —commodity meetings, agricultural events or Extension programs — rather than separating it from production concerns. Community awareness is equally vital. Pastors, lenders and neighbors often see early warning signs long before a crisis emerges.

“Collaborating with banks, financial advisors, the U.S. Department of Agriculture and nonprofits to provide localized support is important. And combining financial guidance with mental health support helps farmers make informed decisions without emotional overload,” Scheyett said. “Even amid uncertainties like government shutdowns or delays in farm bills, it’s important to send the message: ‘Times are tough, but you are not alone, and help is available.’”

Practical financial planning tools can reduce stress before it reaches a crisis point. Extension specialists can play a critical role by simplifying complex government programs, offering guidance on disaster relief and insurance and ensuring that spouses or family members involved in farm finances are included in support efforts.

“Often, spouses manage day-to-day finances and bear much of the financial burden silently. In some cases, farmers are shielded from the detailed numbers to prevent worry. Including spouses and family members in education or support programs is critical for comprehensive stress reduction,” Scheyett added.

A way forward

The numbers tell a stark story: Year after year, peanut and cotton growers are fighting uphill economic battles, with losses that threaten not just farms but families. Yet research offers a clear path toward resilience. When farmers have access to clear financial information, responsive government programs and mental-health support free from stigma, they gain the confidence to plan rather than react.

While financial education isn’t a replacement for counseling or crisis care, it is a foundation for both, helping farmers make informed choices, rebuild hope and maintain their legacies for future generations.

“Providing farmers with tools, options and knowledge empowers them to feel in control during uncertain times. It helps them proactively manage retirement, succession and risk; reduces desperation and emotional decision-making; and encourages confidence that they are doing the right things,” Scheyett said.

If you or someone you know is struggling, please visit extension.uga.edu/mentalwellbeing for resources, or contact the 988 Suicide and Crisis Lifeline.