{"id":7406,"date":"2023-01-15T18:21:04","date_gmt":"2023-01-15T18:21:04","guid":{"rendered":"https:\/\/zangzendo.com\/?p=7406"},"modified":"2023-12-29T07:50:00","modified_gmt":"2023-12-29T07:50:00","slug":"10-common-causes-of-financial-stress-and-how-to-manage-them","status":"publish","type":"post","link":"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/","title":{"rendered":"10 Common Causes of Financial Stress and How to Manage Them"},"content":{"rendered":"\n<p><strong>Financial stress<\/strong> is a major concern for many people, and it can lead to significant health issues if not managed properly. Knowing the common causes of financial stress and how to manage them is essential for anyone who wants to be in control of their finances. In this blog post, we&#8217;ll discuss the 10 most common causes of financial stress and how to manage them. We&#8217;ll look at causes like inadequate income, unexpected expenses, and debt, as well as ways to cope with these financial issues. By understanding and managing the common causes of financial stress, you can take back control of your finances and reduce your stress levels.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_60 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-670c9db354ac5\" ><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input aria-label=\"Toggle\" aria-label=\"item-670c9db354ac5\"  type=\"checkbox\" id=\"item-670c9db354ac5\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#1_Not_earning_enough_money\" title=\"1) Not earning enough money\">1) Not earning enough money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#2_Owing_too_much_money\" title=\"2) Owing too much money\">2) Owing too much money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#3_Losing_your_job\" title=\"3) Losing your job\">3) Losing your job<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#4_Not_having_enough_savings\" title=\"4) Not having enough savings\">4) Not having enough savings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#5_Having_medical_bills\" title=\"5) Having medical bills\">5) Having medical bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#6_Going_through_a_divorce\" title=\"6) Going through a divorce\">6) Going through a divorce<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#7_Having_credit_card_debt\" title=\"7) Having credit card debt\">7) Having credit card debt<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#8_Student_loan_debt\" title=\"8) Student loan debt\">8) Student loan debt<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#9_Paying_for_childcare\" title=\"9) Paying for childcare\">9) Paying for childcare<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/zangzendo.com\/10-common-causes-of-financial-stress-and-how-to-manage-them\/#10_Owning_a_home\" title=\"10) Owning a home\">10) Owning a home<\/a><\/li><\/ul><\/nav><\/div>\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Not_earning_enough_money\"><\/span>1) Not earning enough money<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/images.pexels.com\/photos\/3771129\/pexels-photo-3771129.jpeg?auto=compress&amp;cs=tinysrgb&amp;w=1260&amp;h=750&amp;dpr=1\" alt=\"\"\/><\/figure>\n\n\n\n<p>Low income can cause financial stress. When you don&#8217;t make enough money to pay your bills and other expenses, it can be overwhelming and frustrating. To combat this issue, look for ways to increase your income, such as taking on a second job, starting a side hustle, or looking into freelancing. Additionally, cutting back on spending and creating a budget can help you manage your finances better.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Owing_too_much_money\"><\/span>2) Owing too much money<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>This can be one of the most daunting causes of financial stress. It can seem like a bottomless pit with no way out, however there are strategies you can use to manage your debt. Consider speaking to a financial advisor to create a debt repayment plan that works for your budget. Additionally, you may want to consider debt consolidation or look into other options such as bankruptcy or loan forgiveness programs.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Losing_your_job\"><\/span>3) Losing your job<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/images.pexels.com\/photos\/5900136\/pexels-photo-5900136.jpeg?auto=compress&amp;cs=tinysrgb&amp;w=1260&amp;h=750&amp;dpr=1\" alt=\"\"\/><\/figure>\n\n\n\n<p>One of the most common causes of financial stress is losing your job. This can lead to a sudden loss of income and can be difficult to manage. To cope with the financial stress of job loss, it is important to plan ahead, budget and look for other sources of income. It is also important to take care of yourself emotionally during this time.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Not_having_enough_savings\"><\/span>4) Not having enough savings<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>Not having enough money saved up for emergencies can cause financial stress. Make sure to prioritize saving money and create an emergency fund to help you cover unexpected expenses. One of the best ways to do this is by automating your savings\u2014have a portion of your income set aside for savings each month. That way, you won&#8217;t have to worry about trying to find extra money for your emergency fund when unexpected expenses come up.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Having_medical_bills\"><\/span>5) Having medical bills<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/images.pexels.com\/photos\/8297240\/pexels-photo-8297240.jpeg?auto=compress&amp;cs=tinysrgb&amp;w=1260&amp;h=750&amp;dpr=1\" alt=\"\"\/><\/figure>\n\n\n\n<p>Medical bills can be a major source of financial stress. It&#8217;s important to budget and plan ahead to be prepared for any medical costs that may arise. It&#8217;s also important to know what health insurance coverage you have so you know what will and won&#8217;t be covered by your policy. Additionally, if you do find yourself with a large medical bill, look into payment plans or other resources that may be available to help you pay it off.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Going_through_a_divorce\"><\/span>6) Going through a divorce<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>Divorce is a difficult process that can lead to financial stress. It&#8217;s important to keep track of your finances during this time and to create a budget so you know how much you need to pay for living expenses. Talking to an accountant or financial advisor can also help you manage your money more effectively.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_Having_credit_card_debt\"><\/span>7) Having credit card debt<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/images.pexels.com\/photos\/7433871\/pexels-photo-7433871.jpeg?auto=compress&amp;cs=tinysrgb&amp;w=1260&amp;h=750&amp;dpr=1\" alt=\"\"\/><\/figure>\n\n\n\n<p>Credit card debt can be a huge burden, and it\u2019s important to tackle it sooner rather than later. Create a budget and try to pay off the debt with the highest interest rate first. Consider a balance transfer credit card, consolidating debt with a personal loan, or working with a nonprofit credit counseling agency.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Student_loan_debt\"><\/span>8) Student loan debt<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>Student loan debt is one of the most common causes of financial stress. It can be difficult to manage, especially when payments are high and interest rates are high. To manage student loan debt, consider refinancing your loans to lower the interest rate, looking into payment plans, or consolidating multiple loans into one.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"9_Paying_for_childcare\"><\/span>9) Paying for childcare<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/images.pexels.com\/photos\/5900089\/pexels-photo-5900089.jpeg?auto=compress&amp;cs=tinysrgb&amp;w=1260&amp;h=750&amp;dpr=1\" alt=\"\"\/><\/figure>\n\n\n\n<p>Childcare can be one of the most expensive costs associated with having children. It can also be a significant source of financial stress, as it can strain your budget and put a strain on your financial situation. To manage the cost of childcare, look into your options such as subsidies, nanny shares, and flexible payment plans. Explore all possible avenues to help reduce your financial burden.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10_Owning_a_home\"><\/span>10) Owning a home<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>One of the biggest financial stresses can come from owning a home. It is important to budget carefully, make sure payments are made on time and track expenses so that homeowners don&#8217;t get overwhelmed by the costs of home ownership. Additionally, it is important to be mindful of potential repairs and maintenance that may be needed down the line.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial stress is a major concern for many people, and it can lead to significant health issues if not managed properly. Knowing the common causes of financial stress and how to manage them is essential for anyone who wants to be in control of their finances. In this blog post, we&#8217;ll discuss the 10 most<\/p>\n","protected":false},"author":1,"featured_media":7407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[9],"tags":[48],"class_list":{"0":"post-7406","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-lifestyle","8":"tag-yoga-and-fitness-routines"},"_links":{"self":[{"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/posts\/7406"}],"collection":[{"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/comments?post=7406"}],"version-history":[{"count":2,"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/posts\/7406\/revisions"}],"predecessor-version":[{"id":7454,"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/posts\/7406\/revisions\/7454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/media\/7407"}],"wp:attachment":[{"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/media?parent=7406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/categories?post=7406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zangzendo.com\/wp-json\/wp\/v2\/tags?post=7406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}