HealthDay Reports: Coping With Budget Stress During the Pandemic
An expert offers some helpful tips for how to help reduce anxiety and stress about finances.
WEDNESDAY, April 22, 2020 (HealthDay News) -- The coronavirus pandemic has supercharged the financial stress that already plagues many Americans, an expert says.
About half of Americans lived paycheck to paycheck before the pandemic, according to a recent survey from First National Bank of Omaha, and now many have lost their jobs.
"The pervasive financial stress the majority of Americans feel is now on steroids, as most Americans did not have savings before this crisis hit," said Julie Kalkowski, executive director of the Financial Hope Collaborative at Creighton University in Omaha, Neb.
"Knowing that you are not in this alone is important to keep in mind as you move forward," she added.
Kalkowski manages a School of Business program that educates people about the psychology of money, tracking expenses, saving for emergencies and repairing credit.
She offered this advice on how to reduce financial anxiety both during and after the coronavirus pandemic.