How to Manage Financial Stress Caused by COVID-19
The pandemic has made life stressful for many, whether it’s dealing with isolation woes or financial stresses. If COVID has created financial issues for you, you’re not alone — many Americans are under financial pressure due to the pandemic.
While the pandemic recession may be out of your control, creating a budget for yourself and looking into financial relief options will help you gain more clarity about your financial situation. Remember to also prioritize self-care, and consider taking Sweet Honeybee Health-recommended CBD products to help you recover from pain or anxiety.
Pandemic recession woes
The pandemic recession is significant. According to one survey, nine out of 10 Americans say COVID has caused financial stress. Many are worried about job security and their ability to pay monthly bills such as mortgage payments and utilities. While the pandemic is expected to continue to be a concern for some time, it’s important to come up with ways to take care of your mental and physical well-being to cope with the challenges.
Your finances, while challenging, shouldn’t have a negative impact on your health. If you’re finding you’re experiencing extra stress due to your finances, it’s vital to find ways to unwind and de-stress, whether it’s getting some exercise and fresh air, having a bath, or doing some yin yoga to help you release tension.
Getting fresh air and exercise is incredible for your health — not only do you get the stress-reducing serotonin release from physical exercise, but you’re also getting healing vitamin D from the sun. Yin yoga is another great option for folks to unwind — yin helps release tight connective tissue, allowing you to unwind from the inside-out.
Managing financial burdens
Along with self-care, it’s a good idea to see how you can make changes in your spending habits and look for other ways to save. For seniors looking to save money, consider getting a cheaper healthcare plan, cutting back on transportation costs, shopping at thrift stores, and taking advantage of senior discounts.
Even if you routinely need to visit healthcare providers, it’s still important to look at ways to save on your health insurance. Be sure to speak with a Medicare agent during the annual open enrollment period to update your plan and see if you can save on your premium. It’s important to find a plan that’s right for your medical needs, so shop around to find an insurance policy that works for you.
Saving on transportation costs is easier than you may think. If you own a car, consider taking fewer trips out of the house each week. Try to group your errands together so you’re not driving around every day, and optimize your route so you’re not backtracking all over town. If you hardly use your car, consider selling it and using public transportation instead.
Financial relief options
If the pandemic has caused you to lose your job or your business, you’re eligible for unemployment benefits. Every state is different, so it’s a good idea to check your state’s unemployment website to find out if you qualify and how to apply.
Another option for financial support is credit card relief. A number of credit card companies have established options for customers facing hardships. Some of the relief options include lowered monthly payments, relief from late fees, and lower interest rates.
Financial stress is all too common for people this year — small businesses have closed across America and many people are out of work. If you’re dealing with financial stress, try to find ways to save money, whether it’s changing healthcare plans or reducing your car trips. Remember to focus on self-care to stay healthy, and look into financial relief options that might help ease the burden.
Are you looking for natural healthcare remedies? Visit Sweet Honeybee Health for recommendations on how to boost your immune system and promote wellness!
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Disclaimer: Sweet Honeybee Health and it’s owners are not medical professionals. Content on this website is intended for informational purposes only. I research and write on numerous health topics and companies. Do not use the information you find on this site as medical advice. You are encouraged to seek the advice of a medical professional prior to trying any health remedy, no matter how safe or risk-free it may claim to be.