In 2017, nearly 62% of Americans reported that they felt stressed about money, according to the American Psychological Association (APA) and it is likely that number has since increased. Americans rely on money for nearly everything (e.g. basic necessities, healthcare, transportation, vacations, etc.) and when it begins to run low, it can only cause a person to feel more stressed than they may already be. In an effort to help those who might be experiencing financial stress, here are a few tips provided on behalf of the APA.


  1. Make one financial decision at a time. According to research, the APA says that when people are faced with multiple financial decisions, “their willpower can easily be depleted.” Rather than try and address each issue at the same time, consider handling one decision at a time, giving priority to the most pressing issues.


  1. Keep track of spending. It is important to keep a record of how money is spent so that an individual can better understand where their money is actually going. It can be extremely frustrating for an individual or a couple to work hard only for their paycheck to dissipate within a few days. Tracking spending can help cut down on making unnecessary purchases which, in turn, can free up money for more important things.


  1. Avoid temptation. If an individual finds themselves struggling financially time after time, they should avoid the temptation to spend when they do have a little extra money. This is especially important during certain holidays such as Christmas, Thanksgiving, birthdays, etc.


  1. Identify how stress is dealt with when it stems from money issues. The APA says many individuals turn to unhealthy activities to relieve their stress, which can also lead to more spending. For instance, some individuals may smoke, drink, gamble, or emotionally eat when they are feeling stressed over money all of which can only make the circumstances more difficult to deal with.


In addition to these tips, it is also important for an individual to get their finances in order. This means:

  1. Creating a realistic budget.
  2. Setting up automatic payments to avoid getting behind on bills and incurring late fees.
  3. Only spending on the essentials until a financial safety net has been built.


If an individual is finding that their debt is too much to overcome and are now facing the legal consequences for falling behind on payments, they may wish to discuss filing for bankruptcy with the Jacksonville, FL bankruptcy lawyers at Gahanian Law, PA. Although bankruptcy is not always a suitable option for individuals who are experiencing a financial hardship, it does provide certain individuals with the relief they might need so they are able to start fresh and learn from their mistakes. To gain a better understanding of the bankruptcy process (e.g. how much it costs, pros and cons, how long it takes, etc.), contact Gahanian Law, PA to set up a time to speak with an experienced Jacksonville, FL bankruptcy attorney.


Gahanian Law, PA is located at:


8596 Arlington Expressway

Jacksonville, FL 32211

Phone: (904) 447-0867



3840 Williamsburg Park Blvd.

Jacksonville, FL 32257

Phone: (904) 441-6010

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