Americans Forced to Rethink Finances to Reduce Stress
By Space Coast Daily // January 26, 2019
It would be nice if wealth was justly distributed amongst the masses in a society, but that is a dream. Most societies have a small percentage of rich and a ridiculously large percentage of poor people, which is evident in countries like the United States. It is not surprising that some experts are saying financial stress has become an epidemic in this country.
Americans are fighting this in various ways because financial stress shouldn’t take over one’s life.
Extra Cash Through Gigs
Stress is more damaging than some might imagine. The immense amount of cortisol released due to stress can take a toll on the body. Cortisol is a neurotransmitter that is released when a person is stressed. Too much of this particular neurotransmitter can lead to inflammation and high blood pressure.
Furthermore, stress can lead to sleepless nights, and that creates another problem. Lack of sleep could cause irritability, lack of concentration, and problems developing long-term memories. Dealing with this particular issue is vital for Americans, and some are definitely tackling it in interesting ways, like utilizing the gig economy.
The gig economy or the shared economy has been on the rise since the internet and smartphones came into existence. It gives regular folks an opportunity to use their skills or property to make a little extra cash on the side.
Some people, for example, are connecting with people who need rides through ride-sharing companies. Other people use home-sharing platforms to connect with people who are willing to pay rent to stay in their homes.
The likelihood of these individuals taking on these types of jobs might have seen slim before, but more Americans are in need of supplemental income. The stress is too much, the need is too much, which makes these types of gigs so attractive.
Digging Unexpected Money Wells
Making a little extra cash through the gig economy is definitely helping some Americans feel less stressed about cash, but this is not the only step some people are taking. There are others who are looking at the valuable assets they possess, finding ways to monetize those assets.
For example, some people are starting to sell belongings if they are vintage or have some appreciating value. This practice has never been easier with several online platforms that allow regular folks to post and sale their belongings online. Some of these possessions are small, but other Americans are selling larger items, such as their life insurance.
Yes, many people do not know that a life insurance can be sold for a hefty cash amount through a life settlement. The owner of the life insurance will no longer have to worry about the premiums associated with the insurance and can also walk away with money that could put a mind to rest for a bit. Granted, it might be a good idea to compare offers by visiting a number of settlement brokers to be sure that the deal is wise.
Less Provides More
More Americans are starting to see that reducing the amount of cash needed gives them more financial freedom.
One thing that some people seem to be tackling is debt as more individuals are cutting ties with credit card companies and mortgages. The idea here is to only spend what is in a person’s bank account or wallet.
Obviously, a person is going to be less stressed about money if there are less bills to pay. There are some people who are attempting to do other little things to reduce their need of money instead of making more, which is a lot harder for any person to do.
For example, some are moving to states or regions of the country where the cost of living is more reasonable while others are actually reducing their living space to save money. Some are going so far as to purchase tiny houses, which cost a lot less than regular homes, even though they do force people to radically change their lifestyle.
There are some who might say that these changes were brought on by necessity, which may be true, but that may not stop Americans from seeing the value of living without financial stress. No one can predict where this movement might take America, but it is interesting to see it happen.
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