Financial Stress 101
Understanding Financial Stress
Financial stress is extremely common and has many causes. Sometimes financial stress is short-term — such as when we lose a job or have unexpected, one-off expenses. Sometimes the stress is more chronic and rooted in deep structural inequities — such as the growing number of people who work more than one job and still struggle to make ends meet. No matter the cause, the stress of not knowing whether we can pay our bills, for ourselves and sometimes for others, can take a toll on our mental health.
Coping with Financial Stress
There are many things you can do to cope with financial stress including reaching out to family for support and advice, budgeting and tracking your expenses, and talking to a financial advisor. It’s highly likely that someone in your circle has experienced a similar situation and might have ideas or at least short-term assistance to offer. It’s important not to feel shame and to seek help sooner than later.