Feeling stress around your finances is normal. Here are some tips for handling it.


It’s natural to feel as though your money doesn’t go as far as it used to.

At the end of June 2022, consumer prices were 9.1% higher than a year earlier. It was the largest increase in 40 years, according to the Bureau of Labor Statistics.

Inflation has slowed a bit since then, but you may still be worried about money. It’s important to know that you’re not alone — and these tips might help you manage that stress.

Pay essential bills first. If budgeting doesn’t come easily for you, then paying your most important bills first (before making any discretionary purchases) can help you stay on track and spend less on nonessentials.

Rework your budget. Revising your budget regularly can ease your anxiety over the unknown. You’ll have a better picture of your finances at any given time, even as circumstances change.

Reevaluate your debt. If you’re carrying high-interest credit card debt, one option is transferring the balance to a 0% APR credit card. The new card will charge you a fee — 3% to 5% of the amount you transfer — but can give you a year or longer to repay your balance before you have to pay interest again.

Ask for help. Venting about your financial frustrations and getting support from others should help reduce your stress. If you’re struggling with money management, try seeking advice from a financially stable family member or friend. Other options include getting help from a fee-only financial planner or educating yourself with books and podcasts by financial experts.

Have the right insurance. When things don’t go as planned, having the right insurance coverage can alleviate financial stress. Certain risks are too large and unpredictable to cover from your savings. The less financial cushion you have, the more insurance you need.

Worried about paying insurance premiums? You may be able to adjust your policy to make it fit your budget. Reach out for help if you have health or life insurance questions.

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