In today's Sunday short episode of the Money Mastery Unleashed Podcast, host Adam Olson addresses the pervasive issue of financial stress and provides practical strategies to manage it. Highlighting a recent Bankrate survey, Adam shares that nearly half of US adults report financial stress negatively impacting their mental health, with inflation being the leading cause. He suggests tackling financial decisions one at a time, prioritizing them in the morning when we're most alert. Adam discusses the importance of creating and sticking to a budget, reviewing insurance policies, and eliminating unnecessary expenses, such as multiple streaming subscriptions and frequent dining out. He advises listeners to prioritize essential bills and regularly audit bank and credit card statements to identify and cut non-essential spending. To alleviate financial anxiety, Adam recommends building an emergency fund and maintaining consistent savings habits despite inflationary pressures. Adam urges listeners to scrutinize their financial habits and make necessary adjustments to improve their financial well-being.
"Stress from financial challenges can be overwhelming, but taking one step at a time can make a significant difference."
What you will learn:
Financial Stress and Coping Mechanisms
Inflation Insights
Tackle Financial Decisions One at a Time
Prioritize Essential Bills
Learn more about Adam Olson by visiting the following links:
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Investing involves risk, including loss of principal.
Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions. Any strategies discussed may not be suitable for everyone.
Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC. Adam Olson, Representative. Mutual of Omaha Investor Services is not affiliated with any entity listed herein.
This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product.
Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties. Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.
