If you’re feeling stressed about money thanks to the Coronavirus pandemic and shutdown, you’re not alone.
72% of Americans report feeling stressed about money within the last month, according to a new survey by the American Psychological Association. It doesn’t help that 35% of Americans can’t last even one month on their savings, according to the July 2020 Retirement Confidence Index.
So how did we get here… and what can you do about it?
Among the many bits of wealth-killing conventional financial “wisdom” is the recommendation that you have an emergency fund equal to 3 to 6 months of your household expenses.
Almost every financial “expert” parrots this advice, even though millions of Americans were out of work for more than a year in the last major recession!
So here’s a 3-step plan to move towards a financially stress-free life…