Ways to manage financial stress
RICHMOND, Va. (WWBT) - Eighty-four percent of Americans are experiencing financial stress due to COVID, according to a 2020 survey from the National Endowment for Financial Education.
So how do you overcome money-related stress?
Cherry Dale, a Financial Coach with the Virginia Credit Union, says to schedule a time to review all of your finances.
Get real with yourself and any others in your household regarding your money situation. It is important to communicate with others, even your children.
Dale says to acknowledge the small wins. If you were struggling to pay a bill last month but were easily able to meet it this month, that’s a win.
“If we can really focus on what we are controlling with our finances and letting go of some of the things that we can’t control holding yourself in your family members accountable, it will get you on the way to overall better financial health,” Dale said.
Dale also says to pull your credit report each week. You can do that now Under the cares Act from here.
It’s not going to give the credit score, but it will show you any activity on your account and how much you owe, so you can make an informed plan.
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