Is Financial Stress Getting the Best of You? | First Volunteer Bank

If you think you’re the only one facing financial stress, think again! You are not alone. In fact, millions of Americans are also suffering from financial stress. That’s why our team at First Volunteer Bank wants to offer some suggestions that will help you find relief.

Find Relief From Financial Stress

One of the main reasons why people experience financial stress is because they are spending more than they are making on a monthly basis. One of the best ways to combat financial stress, then, is to make—and stick to—a budget.

Creating a budget can help ensure you aren’t spending more than you’re making. It also has the added benefit of helping you gain an understanding of exactly where your dollars are going. You may not realize that you’re spending a good amount of money each month at the drive-through, but keeping up with a budget will show you that information! Then you can adjust your habits to better suit your budget.

Second, you need to establish an emergency fund. An emergency fund should be one column of your monthly budget. Each paycheck, you need to put a certain amount into the fund.

That way, if an unexpected situation (like the washer breaking) occurs or an emergency happens, you have money put aside to cover the expenditure. Even if you don’t have enough money in your savings, you’ll at least have enough to get you started.

Finally, change the way you view your money. Do you find happiness in spending? Try and change your mindset to where you find happiness in saving! Rather than eating out with friends, think of alternatives, such as going for a walk at a local park. Or cooking dinner at home and renting a movie rather than going out to the movie theatre and eating at a local restaurant. These small shifts in behavior can lead to big shifts in your financial stability.

Are you looking for a bank you can turn to? Visit the team at First Volunteer Bank today so that we can help you get a better handle on your financial situation!