Dear Rich Lifer,
Think about the last five years…
Can you recall an unexpected event that led to financial stain? Maybe a health crisis, layoff, leaky roof, or unexpected car repair.
You’re not alone. Approximately two-thirds of U.S. households experience an unexpected event that negatively impacts their financial wellbeing, according to Pew research.
So it’s no wonder the most common cause of money stress is the feeling that you’re just one financial shock away from disaster.
What’s even more depressing, reducing financial stress when you don’t make enough is nearly impossible.
“Even the kind of frugality that will theoretically bring you some relief will often require an investment of time or finances — and lacking money and time is exactly why you’re feeling overwhelmed,” says Emily Birken, author of End Financial Stress Now.
So what can you do if you’re stressed about money?