How To Reduce Financial Stress

“The financial stress that plagues so many Americans follows them to work,” said Brian Nelson Ford, Financial Well-Being Executive at SunTrust Bank. “This leads to lower satisfaction in pay, decreased productivity, and poorer health.” Worrying about money is a pain. It's easy to disengage at work when worried about money.

Financial experts recommend creating personalized debt management plans, a health savings account (HSA), and a flexible spending account (FSA). Both allow people to save on medical costs and have tax-saving advantages.  

According to the Consumer Financial Protection Bureau,  Keep an eye on your spending; Build a budget and stick to it ·

Here are some Financial Wellness Tips:

1. Request due dates for your bills that help you stay on track. 

2. Make saving easy by making it automatic.

3. Choose a debt reduction strategy that works best for you. 

4. When shopping for a loan, get quotes from at least three lenders.

5. Set up alerts to stay on top of your checking account balance.

6. Set an annual reminder to check your credit reports

7. Apply only for the credit you need.

8. Prepare for life events and large purchases by planning ahead.

9. If you can’t make a bill payment, act fast and call your creditors.

10. Make your savings consistent.