Financial Stress Heads Up and UP!
Updated: Dec 3, 2020
During the COVID chapter of our lives (that sounds like a soap opera…), financial stress is heading up and up. In fact, financial stress has been greater during this chapter than it has been ever, or at least in a very long time, for many people.
So…, what the heck do we do about it? There are a lot of things you can do about it!
First off, let’s talk about budgeting. If you do NOT have an operating budget for your household, you NEED to have one! There are a lot of ways this can be accomplished. Personally, I’m a huge fan of YouNeedABudget.com and I use it for my personal and my business finances. They have great tutorials and it is the only system that I have found that gives you a very comprehensive overview of ALL of your finances and how to keep it all tracked and organized. More about YouNeedABudget.com on a future blog post…
Secondly, let’s talk about financial setbacks. Everyone has financial setbacks from time to time. Emergency funds are great to handle these types of things. HOWEVER, not many Americans have an Emergency Fund, AND, in the middle of COVID, many of those Emergency Funds have been drained due to job loss, furloughs, etc.
I cannot recommend highly enough the importance of having a personal legal plan to help you with some of these financial setbacks. When you have a warranty issue that does not get handled properly, or a landlord/tenant issue, or honestly almost anything under the sun that goes wrong, you NEED to seek out highly qualified legal advice. Having a personal legal plan solves this issue! My legal plan saves me more than I spend annually, and I receive the best quality advice that there is.
Click here to check out our survey to see if we are a good fit for one another!