Nebraska expert gives tips on how to prevent financial anxiety

"Americans are more stressed now more than ever about their money," said Tim Kulhanek, a financial professional at Stonebridge insurance and wealth management. 

LINCOLN, Neb. (KLKN) — As inflation skyrockets prices across the nation, a recent study found more than 40 percent of adults say money is negatively impacting their mental health.

“Americans are more stressed now more than ever about their money,” said Tim Kulhanek, a financial professional at Stonebridge insurance and wealth management.

Take a look at the price tag at the pump or the grocery aisle and it’s no wonder that’s the case.

“People are feeling the effects of rising costs, but they’re also feeling the affects of rising interest rates,” Kulhanek said. “Not so much on their savings, but the things they owe money on, their debt.”  

Kulhanek says it’s all about finding the right spending plan to avoid anxiety from your finances.

“You need to know where every dollar is going because when you do, it gives you power over your money,” Kulhanek said.  

This also means you’re paying your bills off on time, and not going into debt, which is a growing issue. Across the country, debt rose by more than 52 billion dollars in march alone this year, a 14 percent annual increase. 

Kulhanek said this can be a tricky process these days.

“Sometimes it’s tough because you might see prices go up very much for what you’re buying in certain items, but those items have gotten smaller,” Kulhanek said. “Some companies can do that. So instead of getting 12 Oreos per row, they’re only giving you nine.”  

Oreos or not, Kulhanek says to still have a good time this summer, just know what you’re spending. 

“By no means does that mean you can’t have fun, you can’t enjoy yourself,” Kulhanek said. “Go to the lake, go on vacation, do all those things, they just need to be a part of the plan.”  

And don’t get stressed out, as hard as that might seem. There are resources available, so Kulhanek says not to put it off. 

“In some ways, it gets to a point where there’s so much information out there that we don’t know is useful and that isn’t useful. So we don’t do anything.”  

But there are people who are willing to help you out. You can visit Stonebridge’s website for more resources on how to budget with inflation. .