Finance Tips in Times of Stress

From my days leading Critical Incident Stress Debriefings (CISD) I learned that when we experience a traumatic event we probably won’t feel like our usual selves.  Our emotions feel out of control and we feel like we are losing it.  We need to know when this happens that we are having a normal reaction to an abnormal situation.  This is a natural reaction.  Yes, it feels uncomfortable.  When we experience a traumatic event, we need to give ourselves some grace.  Be gentle with ourselves and seek out resources.

We are in the middle of an extended traumatic event due to the COVID-19 pandemic.  We feel that life is out of control.  It will take time to adapt to the new reality.  This is a time when it is wise to take a step back from major financial decision making.

Financial Tips from a Financial Coach.

  •       Track Spending
  •       Reduce Spending
  •       Put the relief check in an emergency savings account
  •       Get copies of your credit reports from www.annualcreditreport.com
  •       Be proactive in contacting lenders and creditors when struggling with payments
  •       Seek out an AFC® Financial Coach or other accredited financial professional and do a financial reality check

Consider:  Even though we are practicing social distancing we are not alone.

Emotions and FinancesA Statement of Solidarity