Protect Your Finances in Hard Times

By Ann Lloyd, Student Savings Guide

It’s been almost a year since many of us have felt truly safe. We’ve been beset by a global pandemic, civil unrest, and, amidst it all, financial uncertainty.

We have limited control over those first two elements. We can wear masks and socially distance to shield ourselves from the coronavirus, and we can do our part to find common ground and exercise compassion when dealing with our fellow citizens. But somehow, things still feel largely out of hand.

We might feel overwhelmed by financial demands, too, and some factors may be beyond our immediate control. But we can still take steps to find firmer financial footing and work toward a more secure future — even in an unsettled present. 

Weather changes in your employment

For many, the employment picture has become a major source of stress and uncertainty during the past year. Many businesses have closed, and a survey of Yelp data showed that 60% — a majority — had closed down permanently. Unemployment claims hit a five-month high in January 2021.

You may have been laid off or furloughed as a result of the pandemic, and even if you weren’t, your job description may have changed. Maybe you started working from home or saw a reduction in hours. Or maybe you had to assume new duties as your company stretched its staff’s capacity amid downsizing.

In light of these changes, it’s important to expand your skill set to keep yourself relevant. Ask your employer about cross-training opportunities, and bolster your all-around proficiency by seeking out online courses and how-to videos. Look for side jobs and contracting work, too: The “gig economy” has grown by 15% since 2010.

If you’re in a traditional job, check in with human resources about changes in job status or duties that might be expected in the near future. And don’t be afraid to ask for information about financial assistance, wage investment programs, retirement options, and insurance packages that are available through your company.

Get proactive with your finances

Take stock of your overall financial picture with an inventory of everything from your budget to your retirement plan, from your insurance to your bank account.

There are plenty of financial management tools available to you, ranging from banking apps to budgeting software and beyond. For example, in uncertain times, managing and maintaining your credit is critical. You’ll need a credit cushion now more than ever. Under federal law, you’re entitled to a free credit report each year. Take advantage of this opportunity so you know where you stand.

If you find yourself in difficult straits, pursue opportunities for government aid. Two rounds of stimulus payments have gone out to qualified taxpayers. If you haven’t received yours, you can check its status and how to proceed via this IRS site online. 

Do some research and be aware of your options. There’s also other tax relief available, such as filing deferments and economic impact payments. Check into unemployment insurance and student loan relief, if they apply. 

If you’re a renter, know your rights, and whether you’re protected by a government moratorium on evictions. Check with lenders to see whether they’re willing to be flexible on your debt by allowing you to skip or delay scheduled payments. Ask your bank to waive ATM fees, late fees, and overdraft penalties.

Scrutinize your insurance

Insurance is important during the best of times, but it’s even more critical during times of crisis.

Take account of all your coverage, whether it’s home, health, or automobile insurance. Some insurers offer discounts for bundled coverage; see whether this might work for you. Study your policies to make sure they don’t overlap and you’re not paying too much as a result. Know what needs different types of policies serve, and how health and car insurance coverage differs by situation.

There are other types of backups you also might want to consider. If your livelihood depends on electricity, you can’t afford to lose power. A backup generator is a modest investment that can keep you operating in uncertain conditions.

Protect your retirement

When you need to tighten your belt, it’s tempting to stop paying into your 401(k) or other retirement account. But don’t let uncertainty in the present threaten your future. It’s never a good time to pull the plug on retirement savings — but you can take this opportunity to reassess the kind of saving you’re doing.

Check with your employer to see whether your company is offering, or planning to offer, new options that fit your situation better. Consult your financial adviser for expert advice, so you can be sure of your future, even if your present seems uncertain. If you’re nearing retirement, your adviser can tell you how feasible it would be to call it a career — and when.

The past year has strained our economy as a nation, and our individual finances, as well. But even amid the stress and sorrow of civil unrest and the spread of a deadly virus, there are things we can do to minimize the impact of national and global crises on our lives. 

As we look ahead, we can take action to keep our ship afloat as we right our course and sail toward a brighter future.

Avoiding Winter Burnout at Work and Home

Image Source: Unsplash

With winter officially here, it can be easier than ever to feel stressed, overwhelmed, and even depressed. About 5% of adults experience Seasonal Affective Disorder (SAD), making this time of year hard enough to deal with, already.

On top of the typical pitfalls of the winter season, this year has truly been unlike any other, and the effects of the COVID-19 pandemic are still going strong for many people across the country.

Between the aftermath of the holidays, the cold, dark days, the endless negative news cycle, and feeling overwhelmed at work, it’s easy to experience burnout. That can leave you feeling tired, gloomy, and unmotivated.

Thankfully, there are some things you can do to avoid burning out both at work and at home. Giving your mental and emotional health a boost can help you to get through this season, and even learn to enjoy it. Let’s look at a few ways to accomplish that this year.

Learn to Manage Your Stress

Everyone deals with stress. So, it might feel impossible to get rid of it, completely. But, too much stress can wreak havoc on your mental and physical health, contributing to everything from heart disease to high blood pressure. Excessive stress can also lead to mental health conditions like depression or anxiety.

While you may not be able to eliminate stress and anxiety from your life this season, there are ways to reduce them. One of the best things you can do is to avoid as many triggers as possible. Determine what it is that causes you to feel stressed and anxious. Some common causes include:

  • Caffeine
  • Alcohol
  • Family
  • World issues
  • Money problems
  • Health problems

Problems with work or even the death of a loved one can also contribute to stress and anxiety. This year, more than ever, many people have experienced multiple triggers on that list, as well as more personal factors that have contributed to higher stress levels.

If you can’t completely avoid these triggers, finding ways to reduce your stress levels is important. Keeping your home clean and organized can help, as well as spending time with family members and other people you love (safely). Being able to talk about how you’re feeling can make a big difference, so don’t hesitate to create a plan of action when it comes to directly battling stress.

Make Your Home a Sanctuary

Many people have had to combine their work and home lives this year. You may have had to start working remotely for the first time. While that can sound appealing at first, it can be difficult to achieve a healthy work-life balance when your office is in your living room. One way to spark creativity and make you feel more motivated about working, whether you’re home or in your actual office, is to make a few simple upgrades. Get a standing desk to keep you moving throughout the day, or decorate your office in a way that inspires you and makes you feel more energetic.

If you’re working out in the field, or you’re a frontline worker of any kind, it’s extremely important to be able to separate your work life from your home life. Many frontline workers, like nurses, have to deal with immense amounts of daily stress as they see the firsthand effects of this pandemic. One of the ways to manage that stress is to get a full night’s sleep.

Whether you need to separate your remote working life from your free time or you’re an essential worker who needs to feel relaxed at home, taking the time to turn your living space into a sanctuary can be worth it!

You don’t have to make major changes to your home or routine to achieve a spa-like experience. If you’re trying to find more ways to relax and pamper yourself, consider:

  • Aromatherapy and bath oils
  • Body scrubs
  • Clay masks
  • Hand and foot care

Turn on some soothing music, draw a warm bath, and light some candles. By creating an environment of pure relaxation, you can almost immediately reduce your stress, feel more energized, and get better sleep, which can keep you going throughout the day no matter what career path you’re on.

Practice Self-Care

Self-care has become a popular buzzword over the last few years. Unfortunately, because of its popularity, it’s lost some of the true meaning. Self-care is more than just an idea, it’s something that needs to be put into practice. It also might look different for everyone, since we all enjoy different things.

Taking care of yourself can help to reduce stress levels and promote mental and emotional wellbeing. Again, it’s different for everyone, but there are a few common threads of self-care that can benefit almost anyone, including:

  • Eating well
  • Getting enough sleep
  • Drinking plenty of water (yes, you still need it in the winter!)
  • Keeping up an exercise routine
  • Being aware of any deficiencies in your diet

By taking care of your mind and body throughout the winter, you can beat the fatigue and exhaustion that sometimes tries to pull you down.

All of these solutions are beneficial when it comes to managing the winter blues and feeling as though you could burn out at any moment. While this year has been harder than most, these tips can still help you to get through the snowy season, so you can feel more energetic, motivated, and upbeat.

11 Habits of People With Concealed Depression

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There will be two main types of people reading this blog: those finding themselves better equipped to understand some of the people they love and those who see their own reflections in these habits.

Depression often goes unseen, unrecognized, and undiagnosed. A person with concealed depression is someone who is conditioned to deal with their inner demons in a way that doesn’t make them clearly visible. They may or may not be diagnosed, and this may or may not be something they’ve shared with even their closest of companions. The problem is that the world becomes darkest when we all stop being able to understand each other. We tend to believe that hardship is worn openly upon one’s chest like a battle scar, but many of these wounds do not easily reveal themselves to those that do not take the time to look.

1. They may intentionally make efforts to appear OK and maybe even seem exponentially happy and upbeat.
The idea that those with depression all have one similarly dreary personality is false. Depression is more than just a mood. Those who live with depression have learned to alter their apparent moods, and may even be some of the most seemingly “happy” people that you know. Personalities can vary. Often those with depression try to stick with the positive and public parts of their demeanor regardless of what they’re going through on the inside. No one wants to bring others down, even if that means hiding how he or she is truly feeling.

2. They may have habitual remedies.
There are serious ways to treat depression, including therapy and medication. However, in addition to these remedies, there are lifestyle habits that those with depression use to treat their everyday state-of-mind. This can be in the form of music, exercise, driving, walks, or basically anything they know can get themselves out of a sinking set of emotions. Concealed depression has a lot to do with the ways people try to personally conquer their own demons.

3.They may have trouble with abandonment.
Anyone who has experienced depression understands the burden it can be. It can also be a burden for those closest to them. Sometimes when you let someone in enough to see the struggles you have, they walk the other way. Though it’s hard to blame these people for leaving, it creates a serious feeling of abandonment for those with depression. It forges a need for secrecy, out of fear of the recession of those they love. There is nothing more heartbreaking than finding out your ugliest layer of self is too ugly for someone you love to handle.

4. They can be pros at “cover-up” stories.
This can be for anything from the cuts on their arms to the reason they skipped dinner. People who live with different forms of depression experience various hardships that can at times impede the normalcy of their daily lives. In these low instances, they know what to say to avoid attention from others to those displays of pain. Often they don’t want to recognize that they are hitting a low point either, so they know how to hide it.

5. They may have abnormal sleeping and eating habits.
This may seem like a small sign or factor, but it has a grave effect. Those who live with depression in an unrevealing way can sometimes only let the little signs show. Sleeping too much or too little are textbook examples. The same goes goes for eating too little or too much. Sleep and nutrition are two critical elements to health. They are also two elements that the human mind can attempt to control. Depression creates a suffocating lack of control, and being able to control at least something, can be all a person has. Sleep can be nearly impossible, or it can be the only escape. The same goes for eating.

6. They may understand substances differently.
A person who handles their depression also knows how to monitor what they put into their body. They know alcohol is a depressant, and drinking it over an extended period of time can create a mental state of low that they are less equipped to handle than the average person. They know that caffeine and sugar are uppers for their moods. They know what medications do what. They know what doesn’t mix well. They know all of this because altering their state of mind in any way is much more of a responsibility than it may be for other people.

7. They may exhibit a very involved perception of life and death.
Not every person with depression has felt suicidal. However, depression often invokes a unique and complex thought process about life in general. Facing one’s mortality often comes at moments of desperation. It happens when you are furiously seeking answers to all of life’s questions. Being dragged in and out of horrible mindsets can cause these kind of thoughts to be more frequent.

8. They are often uniquely talented and expressive.
Many of the most inspired and life-changing artists, musicians, and leaders of this world were also plagued by mental illness. I use the word “plagued” in a contradicting fashion, because having a serious depth of emotions can also lead to profound greatness. People who live with depression that may not be visible to the naked-eye, often express themselves in incredible ways. They are in touch with the good and bad pieces of their souls. They are able to formulate and illustrate beauty through the shadows of the emotions they carry.

9. They are often searching for a purpose.
Everyone wants a purpose in life. We want to know that what we are doing is worthwhile. We want to know that we are moving in the right direction. Those who live with unseen depression want this as well, and in a way that attempts to satisfy something inside of them that may always be hungry for more. Feelings of inadequacy and fear are no stranger to the depressed mind. People with hidden depression are almost always trying to compensate in their life for the frailties that they have inside. They may change directions often. They may become incredibly involved in the pursuit of true happiness. They are also striving and searching for more.

10. They at some times will release subtle cries for help.
Even a person who knows how to live with the burden of their own mind can need help. Outcries from people you aren’t expecting are easily overlooked. Sometimes it isn’t safe for people to be on their own with their depression; as much as they say differently. Sometimes they will reach out. Sometimes they will open up. These moments are the most crucial, because they are especially powerful. They are what builds a bridge between people who have different levels of emotions and mindsets. They are what creates a closeness and trust among friends and lovers that isn’t always easy if some feel they have to camouflage their true selves.

11. They seek love and acceptance, as every person does.
Shielding the world from one’s personal demons is not done so for the sake of dishonesty. People who live with depression in a private and undisclosed way do so for protection. This is for the protection of their hearts. This is for the protection of the people around them. This is for the protection of the success of their dreams. Some of those reading this may have felt an eerie connection to these habits. Whether you have been treated for depression, or you simply have treated yourself, you know how easy it is to feel alone. I entitled this article about those with unseen depression, but the truth is that most depression goes unseen by our human nature. We live in a world that encourages us to hide what is dark and unpleasant. We don’t have to.

The most important habit and motivation of those with unseen depression to understand is that they search for love and acceptance. We all do. The only way to gain it is to spread it. Never turn away from a person who seems to be struggling. Love when it’s difficult. Cry when you need to. Reach out when someone closes the door. Open your heart, even if it feels terrifying to do so. If we keep forcing the bad to go unseen, the good will also go unseen.

CREDITED TO: http://www.huffingtonpost.com/lexi-herrick/11-habits-of-people-with-_b_6384062.html?ncid=fcbklnkushpmg00000063

 

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