Where would you say you currently land on this financial scale?
Broke……….Struggling……….Stable……….Ease……….Freedom

For many of us, the left-side of the scale has been all too familiar given the 2022 Stress in America Study from the American Psychological Association. Approximately, 3/4 of adults, ages 18-57 years old, report considerable levels of financial stress, while just under 50% of people ages 58-76, say they have significant worry about their financial situation. Given all we’ve been through the past several years, and the economic impact, there should be serious concern.

Reports say that 2/3 of US households live paycheck to paycheck, which includes half of those in higher income brackets. A good portion of them being unable to cover emergency expenses of $400 or more. This is where credit cards often come in and, while they can serve a purpose in emergency, are often used in ways leading to troublesome amounts of debt and stress levels penetrating and disrupting multiple parts of life and relationships, resulting in feeling unstable and without a clear vision for the future.

Yet, there is hope.

Having an understanding about how much money is coming in, how it’s being spent, accrued debt, what can I afford….in other words a budget. Without a budget, it’s difficult to have a sustainable plan. Asking someone you know for help, who has their finances in order, can help with a reset. Also, some therapists, such as myself, can help reorganize and make a healthy financial plan on appropriate distributions towards expenses, spending, savings, and giving.