If you are financially stressed these days, then you are not alone. This is our life in difficult and uncertain times, with very high levels of stress.
Some recent surveys have confirmed that Americans are now economically exhausted.
For example, a survey conducted by the National Financial Education Foundation found that nine out of ten Americans said that the COVID-19 crisis is putting pressure on their personal finances. Most people worry about not having enough savings or being unable to pay their bills.
A survey by John Hancock Financial found that nearly a quarter of Americans used emergency savings during the pandemic.
The investigation is looking for the main source of financial stress. We have strategies to solve all these problems:
1. Fear of an uncertain future
Are you worried about unemployment? Worried about what will happen next? This is why it is so important to have an emergency fund as a backup-just in case.
An emergency fund is an easily available amount of money, equivalent to three to six months’ salary, in case you lose your job unexpectedly. In 2020, millions of us have lost their jobs unexpectedly.
along with Wish spending account, You can earn up to 5% cash back through debit card purchases. Using an Aspiration Save account (where you can remit tax refunds), you can get up to 20 times the average interest on your savings balance. (The FDIC reports that the average account’s income is only 0.05%.)
Need five minutes Sign up.
2. Worried about falling behind in credit card debt
The pandemic and its shutdowns and unemployment have forced more Americans to rely on credit cards to pay bills and pay for necessities such as food. For those who are still struggling, managing credit card debt is a huge source of stress.
Can you imagine waking up without credit card debt? Whether you feel pressured by always being in debt, or just tired of high interest rates, this will be a great relief.
A free website called slim Shady Can help you eliminate credit card debt faster.
AmOne will match low-interest loans for you and pay off all your credit cards in one go. Its interest rate starts at 3.99%-well below the 20% or more you might pay a credit card company. In the long run, this can save you thousands of dollars. In addition, you will get out of debt faster.
Takes two minutes See if you meet the criteria Up to 50,000 US dollars.
3. Fear of death, leaving family members in trouble
During the pandemic, interest in life insurance surged because more and more Americans realized they might need it.
Overall, the number of life insurance policies purchased by Americans in 2020 has increased by approximately 10% compared to 2019. This may not seem like much, but it is actually the largest increase in the past two decades.
In addition, more and more people are seeking test-free life insurance because they don’t want to go to the doctor’s office for a personal examination.Company likes Bestow Use algorithms instead of physical exams to evaluate applicants.
Prices start at only $16 per month. You can leave up to $1 million to your family. Knowing that your family is cared for and peace of mind is priceless.
If you are under 54 and want to get a quick life insurance quote without leaving home, Get a free quote from Bestow.
4. Another way to keep your family from getting into trouble
Another way to take care of your family financially is to invest. Investment is your way to build wealth for generations.
If you feel that you do not have enough money to start investing, then you are not alone. But guess what? You don’t really need that much-if you know where to look, you can even get free stock (worth up to $200!).
Whether you have $5, $100 or $800 in spare money, you can start investing Robin Hood.
Yes, you may have heard of Robin Hood. Investing beginners and professionals like it because it does not charge commissions, and you can buy and sell stocks for free-no restrictions. In addition, it is very easy to use.
What is the best?When you Download app And fund your account (just a few minutes), Robinhood will deposit a portion of free stocks into your account. However, this is random, so the value of the stock may vary from $2.50 to $200-this will help you build an investment.
Mike Brasfield ([email protected]) Is the senior writer of The Penny Hoarder. He has no incredible pressure at all, no, sir, why do you think so?