Simple Ways to Avoid Financial Stress

Join our #CreditChat on Periscope, YouTube Live, Twitter, and Snapchat every Wednesday at 3 p.m ET. In this chat we shared tips and tricks to help you alleviate financial stress.

Easy ways to chat with us on Twitter: Tchat

The panel included: Michael Eisenberg: CPA/PFS and member of the AICPA’s National CPA Financial Literacy Commission; Shannon McNay: Writer for Student Loan HeroRod Griffin: Director of Public Education at Experian; and Christina Roman: Social Media Specialist at Experian.

We also featured financial tips all week on Snapchat.

Questions We Discussed:

  • Q1: What are common signs that you’re dealing with financial stress?
  • Q2: What can you do if financial stress is affecting your emotional well being?
  • Q3: What can you do if financial stress is affecting your physical health?
  • Q4: What can you do if financial stress is affecting your relationships with family and friends?
  • Q5: What positive habits can people start now to help them combat financial stress?
  • Q6: What advice do you have for someone dealing with stress caused by recent job loss or medical emergency?
  • Q7: How can someone who’s been in denial about their financial situation turn things around?
  • Q8: What proactive steps can people take to help them avoid financially stressful situations in the future?
  • Q9: What resources are available for people dealing with financial stress?
  • Q10: Any final tips for someone dealing with financial stress?

Tips from this week’s chat:

If you are feeling overwhelmed with financial stress, there are people you can talk to. You can confide in a close friend or family member, or talk to a financial planner or non-profit credit counselor: situation is not going to change unless you get real with it. Sit down and take a hard look at your income and expenses. IMG_3755Whether you plan to tackle debt, find a job, take on a side hustle or just save more, create a realistic plan of action. Set short term and a long term action items and goals. Check in on your goals regularly.
Find free activities that make you happy and do more of them. Some people like to hike, go for walks, do yoga at home or meditate. These simple activities will boost your mood and help alleviate some stress.
IMG_3757You never know when an emergency will occur. This is why it’s important to have a savings account specifically for emergencies. Simply knowing you have a financial cushion will help alleviate a lot of stress.

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