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Financial anxiety is a very real issue in American households. With this year being one for the uncertainty records books, the future looks quite murky. Wondering whether you remain on solid financial footing amid the turmoil is very common. At McKay Wealth, our goal is to empower our clients to make smart financial decisions, especially when the day-to-day becomes unsettling. If you are struggling to calm your nerves about your money right now, here are five tips to help:  

Write down your worries (and cross them out). 

When finances get an unexpected jolt, people can quickly start feeling powerless over their pocketbooks. Worries, some legitimate and some not, keep popping up. Take some time to write down what is bothering you about your financial situation. Be as specific and detailed as possible. Come up with an actionable plan to address each item if needed. Cross them out once you have a plan in place. Your mind should start to feel less harried now that you are making some headway. 

Gain some perspective. 

In today’s economic climate, you are far from alone if you are feeling like you are in financial disarray. Many events have been completely outside of your control. Did your income drop this year because of pandemic restrictions, loss of childcare, health problems, or family needs? Have you suffered temporary unemployment or smaller paychecks from reduced work hours? Have you drained your emergency funds to make ends meet? Think about how you got to where you are with your money. With everything changing at lightning speed this year, feeling overwhelmed is completely reasonable.  

Seek out advice 

Often people just need some confirmation that they are doing what they need to. Or they may have a lingering question they would like answered. Lean on your financial advisor for extra guidance, especially during times like these. A quick phone call, email or video conference may be all it takes to regain your footing and build your confidence back up. Our job is to consult with you when the unexpected rears its ugly head.  

Try a goal reset. 

Even the most goal-oriented individuals can get sidetracked, especially when daily life is upended. Don’t beat yourself up if this year has put a damper on your financial plans. Jobs are being cut, careers are being put on hold, small businesses are being shuttered, and families are having to do whatever it takes to juggle the school year. Be kind to your financial self. If it means setting aside a lofty goal you were working toward for a few months, that is perfectly understandable. Remember innumerable people are dealing with the exact same troubles. Resetting your financial goals can be a simple way to cut yourself a little slack. 

Look at the big *futurepicture. 

Remember that your financial circumstances evolve constantly, even in a normal year. Changes may occur from a big life event: marriage, job loss, divorce, retirement, starting a family. Or your cash needs may vary because of more everyday reasons: getting a bonus, buying a car, going on vacation, remodeling a home. In moments when you feel out of control of your wallet, think farther into the future. Achieving the goal of financial freedom is a marathon, not a sprint.  

Rest assured that even though your needs may be fluctuating quickly and unexpectedly right now, you can still achieve the ultimate goals you are striving for. We are certainly here to help guide you along the way.  

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