Having an action plan for personal finance is critical in uncertain times. Photo by Nicolas Guyonnet/Hans Lucas/AFP via Getty Images
American families are struggling to keep up with their bills.
The cost of food soared by more than 23% from 2020 to 2024. Other price increases, which are especially steep for vehicles, insurance, child care and housing, come as nearly 40% more people are behind on their credit card payments than in 2022.
Now, uncertainty arising from zigzagging tariffs, firing of tens of thousands of federal workers and contractors, and massive cuts and freezes to federally funded programs means that more people are increasingly pessimistic about the economy.
As an assistant professor of social work, I have found through my research that differences in how people experience, behave toward and feel about their personal finances have as much of an impact as do their age and gender on certain financial decisions. And those decisions, in turn, can affect their income…
Source link : https://usa365.info/how-to-manage-financial-stress-in-uncertain-times/
Author : USA365
Publish date : 2025-05-08 01:31:00
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