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Showing posts from August 5, 2018

4 Ways to Reduce Money Stress by Aisha Taylor

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According to CNBC 30% of Americans are “constantly” stressed out about money.  The same article reports that need to tap into savings to make it to the next payday and the fear of “unexpected expenses” are large sources of stress.  Not having enough money to cover your expenses or knowing that an unexpected expense could derail your finances is extremely stressful. Fortunately, there are things you can do right now to reduce your stress and put yourself in a healthier financial position. Create Your Budget And Stick To It Once you understand your goals and financial priorities then you must understand how to free up or find the money to allocate to those goals. This is where budgeting comes in. When you budget, review your take-home pay, the money that you have after taxes and payroll deductions. Divide your take-home pay according to the 50/30/20 rule: 50% for your needs, 30% for wants, and 20% for financial goals.  This allows you to cover the things that are necessa