10 Signs You're Experiencing Financial Stress and What to Do About It
Financial stress is no joke. It can affect every aspect of our lives: from our relationships to our jobs to our health...and everything in between. Not sure if you're experiencing financial stress? See if any of the following statements apply to you:
1. Charging more each month than you make in payments.
2. Paying only the minimum amount due on your credit cards.
3. Using credit and cash advances for items that used to be purchased with cash, like gas and groceries.
4. Having a total credit balance that keeps increasing or rarely decreases.
5. Being at or near your credit limit and applying for new cards.
6. Needing a consolidation loan to pay existing debt.
7. Not knowing the total amount you owe.
8. Avoiding opening your mail or answering the phone in fear of debt collectors contacting you.
9. Making late payments on a regular basis.
10. Experiencing anxiety and stress whenever you think about money or use your credit cards.
If any of the above sound familiar, don't give up hope. We've all had moments of financial chaos; if it's happening to you, it's time to take action. Here's what to do next:
Stop all charging and cut up your cards if you're still tempted to charge.
Open up your mail / review your accounts online.
Review your income vs. your expenses.
Go into crisis budgeting mode.
Create a plan to pay off debt and/or get unbiased options from a nonprofit financial counselor.
LSS Financial Counseling is here to help you get back on track. Give us a call at 888.577.2227 for your free session, or click to go to our website. A financial counselor will help you create a budget and provide a realistic action plan with concrete steps to conquer your debt and reduce financial stress.
It doesn't matter what happened in the past; it's all about what you do now to improve your financial situation. So don't wait to take action. The sooner you get started, the sooner you'll get your finances back in order and feel better.