Latest news with #Bryan-Podvin
CNBC
27-06-2025
- Business
- CNBC
Trying to eliminate money stress 'isn't realistic,' financial therapist says—do this instead
This summer, young Americans are gearing up to socialize more. But those outings and trips will come at a cost, and many Gen Zers aren't feeling so hot about their finances. A recent Cash App survey found 65% of Gen Zers are ready to increase their spending for experiences this summer, but an equal-sized share say that planning those costly activities makes them anxious. It may be nice to get rid of that anxiety altogether, but "trying to eliminate all financial stress or anxiety isn't realistic," says Lindsay Bryan-Podvin, a financial therapist and founder of Mind Money Balance. For starters, some financial stress can be healthy. In the short-term, it can help you realize what's most important to you and help you develop a broader financial plan that reflects your values, Bryan-Podvin says. Stress can also be motivating and help encourage you to stay on track. But if you're trying to make a big financial decision like whether to take a trip with your friends or buy a new car, it's wise to make sure you're in the right headspace to do so. And that doesn't mean trying to eliminate the stress. "A healthier and more doable approach is to dial down the intensity of stress to a level where you still feel capable of making wise financial choices," Bryan-Podvin says. When you have to make a big financial decision, take the time to think through it and get your emotions in check. When you do that, Bryan-Podvin says it's a good idea to think about your money stress on a scale of one to 10, with 10 being the highest. "If you're about to make a large unplanned purchase, like saying yes to a spontaneous weekend trip with friends, and your stress level is at an eight, pause before you reply," she says. From there, go for a walk, journal or whatever else helps you calm down. When your stress level is closer to a four or five, you can make a better decision, Bryan-Podvin says. "It's not about waiting until your stress is at zero or avoiding extra spending altogether," she says. "It's about feeling emotionally good enough to make a wise financial decision." Financial stress can help you figure out what your priorities are. If you're worried about not having enough saved for emergencies, for example, "that can clue us in that we value the peace of mind an emergency fund could provide," Bryan-Podvin says. But it's also possible you're stressing for the wrong reasons, especially if you're doing well financially. If you're aiming for perfection or trying to meet an arbitrary standard of someone who's "made it," it's a good time to check in with yourself. "If your stress is at an eight because you feel like you need to invest more, ask yourself, 'According to who?'" Bryan-Podvin says. "That extra check-in can help you get back in touch with yourself instead of trying to keep up with someone else's financial rules." Everyone may need something different to ease their financial stress. To start, try these four strategies from Bryan-Podvin. If you're not sure what your financial priorities are, you could wind up getting even more stressed with decision fatigue every time a spending opportunity arises. Knowing what you value can take some of the anxiety out of making financial decisions. If boosting your emergency fund is a priority, for example, you may have to skip a concert or a few dinners out this summer, Bryan-Podvin suggests. The decision may require saying "no" to your friends who want you to join, "but it can save you the discomfort of not meeting your financial goals in the long run," she says. Using money tools like automatic contributions to your savings or investment accounts can make it easier for you to hit your financial goals, Bryan-Podvin says. If you don't have to think about moving money manually, you won't give yourself the opportunity to spend it on something else. She also recommends using a high-yield savings account to help your money grow faster. Younger generations are getting better at talking openly about money, and that's a good thing: It can help you actually stick to your financial goals, Bryan-Podvin says. She encourages you to try "cash yapping," a term coined by Cash App to describe talking about money without stigma. "Telling your people what you're focusing on financially can provide accountability, decrease awkward moments and reduce social stress," Bryan-Podvin says. It's good to have a pulse on the actual numbers in your savings account. But if you're checking it constantly and having an emotional reaction, Bryan-Podvin suggests setting some boundaries. "Strike a balance between avoidance and obsession by setting light boundaries, like checking your savings goals weekly instead of daily," she says. "That helps you stay informed without constantly feeding the stress loop."
23-06-2025
- Business
How to take care of yourself and your finances when you've experienced a layoff
NEW YORK -- Recent layoffs from technology and media companies and government agencies might have you thinking about job security. Losing your job is a difficult thing to process and you might feel the impact in several parts of your life. But there are things you can do to alleviate some of the stress and anxiety. If you've been laid off, experts recommend that you first take a moment to process and then move on with a plan for your job search. 'A layoff can feel so personal but it's not a reflection of your value or what you contributed. Especially in the U.S., the work we do is so tied to our identity,' said Lindsay Bryan-Podvin, a financial therapist. Here are some expert recommendations to help you take care of your finances and your mental health if you've lost your job: Losing your job can cause a lot of stress and financial anxiety, so it's important that you take time to emotionally process. 'Acknowledge and normalize that they're going to feel a range of emotions, whether it's anger or sadness,' Bryan-Podvin said. Whether you are feeling sadness, shock, anger or even relief, taking a moment to feel those emotions can help you move forward. To make plans for the future, it's essential that you review your current financial situation, said career coach Marlo Lyons. If you have a budget, take a closer look and review whether you have expenses that you can temporarily cut to save money. Lyons recommends that you know how long your severance package will last if you're receiving one. Applying for unemployment benefits as soon as possible can help alleviate some of the financial stress of a layoff. While the amount you get for unemployment might not be as much as your salary, it can help you to stay afloat for some time, Lyons said. The Labor Department has tips on applying for unemployment. Getting laid off from a job can affect your self-esteem, so Bryan-Podvin recommends that you create a list of good qualities about yourself that add to your overall value as a person. Bryan-Podvin calls this a 'non-financial asset list." 'If I were doing a non-financial asset list on myself I might say I'm a pretty good partner and a fun aunt,' she said. When working with her clients, Bryan-Podvin recommends that they create this list to remind them that their self-worth is part of their net worth. If you lose your job, you'll need to be more strategic about your spending, said Jesse Mecham, founder of the money management app YNAB. 'In a layoff, it becomes even more imperative that you treat every dollar with more attention than you have in the past,' Mecham said. Part of YNAB's budgeting strategy is giving each dollar a job, whether it is to pay rent, buy groceries or add to your savings account. When adjusting your spending, Bryan-Podvin also recommends that you approach this with some compassion. Since cutting back can bleed into not doing activities that make you happy, she recommends reminding yourself that this is a temporary pause rather than a permanent change in your lifestyle. While utilizing your credit card to pay for some expenses is almost inevitable, it's best to not completely lean on credit while you're searching for a new job. 'If getting a new job takes them a little longer than they thought, that credit card has just become an anchor for them,' Mecham said. Even though unemployment is temporary, Mecham recommends cutting expenses rather than keeping them at the same level and leaning on credit. Look for community resources, whether that means finding a food bank near you or applying for a temporary hardship program. 'Lots of communities offer temporary hardship programs when it comes to necessary bills, such as electricity or water,' Bryan-Podvin said. offers a benefit finder where you can find available programs and how to apply. As you are applying to new jobs, Lyons recommends that you take some time to assess if your professional goals are still the same. If you're continuing in the same field, Lyons recommends that you make your resume 'forward-looking,' which means showing your future employer what you can do, not just what you have done. 'You want to show the employer what you can do, what unique value you can bring to that particular job that no other candidate can bring because of your previous experience,' Lyons said. Lyons also recommends that you activate your network by reaching out to past colleagues on LinkedIn or attending industry networking events. Online certifications are another great way to make yourself a better candidate, she added. Having a routine can help you take care of your mental health and keep a cadence of applying to jobs. Plan your days so they include eating at your usual time, exercising and applying for jobs for a specific amount of time. 'When we are laid off, unemployment can feel really aimless, especially if it came at us kind of out of nowhere,' Bryan-Podvin said. It's also important to avoid isolating yourself and lean on your support system for emotional support, she added. ___ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
San Francisco Chronicle
23-06-2025
- Business
- San Francisco Chronicle
How to take care of yourself and your finances when you've experienced a layoff
NEW YORK (AP) — Recent layoffs from technology and media companies and government agencies might have you thinking about job security. Losing your job is a difficult thing to process and you might feel the impact in several parts of your life. But there are things you can do to alleviate some of the stress and anxiety. If you've been laid off, experts recommend that you first take a moment to process and then move on with a plan for your job search. 'A layoff can feel so personal but it's not a reflection of your value or what you contributed. Especially in the U.S., the work we do is so tied to our identity,' said Lindsay Bryan-Podvin, a financial therapist. Here are some expert recommendations to help you take care of your finances and your mental health if you've lost your job: Take a break to process Losing your job can cause a lot of stress and financial anxiety, so it's important that you take time to emotionally process. 'Acknowledge and normalize that they're going to feel a range of emotions, whether it's anger or sadness,' Bryan-Podvin said. Whether you are feeling sadness, shock, anger or even relief, taking a moment to feel those emotions can help you move forward. Review your current financial situation To make plans for the future, it's essential that you review your current financial situation, said career coach Marlo Lyons. If you have a budget, take a closer look and review whether you have expenses that you can temporarily cut to save money. Lyons recommends that you know how long your severance package will last if you're receiving one. Applying for unemployment benefits as soon as possible can help alleviate some of the financial stress of a layoff. While the amount you get for unemployment might not be as much as your salary, it can help you to stay afloat for some time, Lyons said. The Labor Department has tips on applying for unemployment. Remember that you are not your job Getting laid off from a job can affect your self-esteem, so Bryan-Podvin recommends that you create a list of good qualities about yourself that add to your overall value as a person. Bryan-Podvin calls this a 'non-financial asset list." 'If I were doing a non-financial asset list on myself I might say I'm a pretty good partner and a fun aunt,' she said. When working with her clients, Bryan-Podvin recommends that they create this list to remind them that their self-worth is part of their net worth. Adjust spending If you lose your job, you'll need to be more strategic about your spending, said Jesse Mecham, founder of the money management app YNAB. 'In a layoff, it becomes even more imperative that you treat every dollar with more attention than you have in the past,' Mecham said. Part of YNAB's budgeting strategy is giving each dollar a job, whether it is to pay rent, buy groceries or add to your savings account. When adjusting your spending, Bryan-Podvin also recommends that you approach this with some compassion. Since cutting back can bleed into not doing activities that make you happy, she recommends reminding yourself that this is a temporary pause rather than a permanent change in your lifestyle. Avoid overusing your credit card While utilizing your credit card to pay for some expenses is almost inevitable, it's best to not completely lean on credit while you're searching for a new job. 'If getting a new job takes them a little longer than they thought, that credit card has just become an anchor for them,' Mecham said. Even though unemployment is temporary, Mecham recommends cutting expenses rather than keeping them at the same level and leaning on credit. Find community resources Look for community resources, whether that means finding a food bank near you or applying for a temporary hardship program. 'Lots of communities offer temporary hardship programs when it comes to necessary bills, such as electricity or water,' Bryan-Podvin said. offers a benefit finder where you can find available programs and how to apply. Approach your job search with a plan As you are applying to new jobs, Lyons recommends that you take some time to assess if your professional goals are still the same. If you're continuing in the same field, Lyons recommends that you make your resume 'forward-looking,' which means showing your future employer what you can do, not just what you have done. 'You want to show the employer what you can do, what unique value you can bring to that particular job that no other candidate can bring because of your previous experience,' Lyons said. Lyons also recommends that you activate your network by reaching out to past colleagues on LinkedIn or attending industry networking events. Online certifications are another great way to make yourself a better candidate, she added. Create and maintain a routine Having a routine can help you take care of your mental health and keep a cadence of applying to jobs. Plan your days so they include eating at your usual time, exercising and applying for jobs for a specific amount of time. 'When we are laid off, unemployment can feel really aimless, especially if it came at us kind of out of nowhere,' Bryan-Podvin said. It's also important to avoid isolating yourself and lean on your support system for emotional support, she added. ___ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
Winnipeg Free Press
23-06-2025
- Business
- Winnipeg Free Press
How to take care of yourself and your finances when you've experienced a layoff
NEW YORK (AP) — Recent layoffs from technology and media companies and government agencies might have you thinking about job security. Losing your job is a difficult thing to process and you might feel the impact in several parts of your life. But there are things you can do to alleviate some of the stress and anxiety. If you've been laid off, experts recommend that you first take a moment to process and then move on with a plan for your job search. 'A layoff can feel so personal but it's not a reflection of your value or what you contributed. Especially in the U.S., the work we do is so tied to our identity,' said Lindsay Bryan-Podvin, a financial therapist. Here are some expert recommendations to help you take care of your finances and your mental health if you've lost your job: Take a break to process Losing your job can cause a lot of stress and financial anxiety, so it's important that you take time to emotionally process. 'Acknowledge and normalize that they're going to feel a range of emotions, whether it's anger or sadness,' Bryan-Podvin said. Whether you are feeling sadness, shock, anger or even relief, taking a moment to feel those emotions can help you move forward. Review your current financial situation To make plans for the future, it's essential that you review your current financial situation, said career coach Marlo Lyons. If you have a budget, take a closer look and review whether you have expenses that you can temporarily cut to save money. Lyons recommends that you know how long your severance package will last if you're receiving one. Applying for unemployment benefits as soon as possible can help alleviate some of the financial stress of a layoff. While the amount you get for unemployment might not be as much as your salary, it can help you to stay afloat for some time, Lyons said. The Labor Department has tips on applying for unemployment. Remember that you are not your job Getting laid off from a job can affect your self-esteem, so Bryan-Podvin recommends that you create a list of good qualities about yourself that add to your overall value as a person. Bryan-Podvin calls this a 'non-financial asset list.' 'If I were doing a non-financial asset list on myself I might say I'm a pretty good partner and a fun aunt,' she said. When working with her clients, Bryan-Podvin recommends that they create this list to remind them that their self-worth is part of their net worth. Adjust spending If you lose your job, you'll need to be more strategic about your spending, said Jesse Mecham, founder of the money management app YNAB. 'In a layoff, it becomes even more imperative that you treat every dollar with more attention than you have in the past,' Mecham said. Part of YNAB's budgeting strategy is giving each dollar a job, whether it is to pay rent, buy groceries or add to your savings account. When adjusting your spending, Bryan-Podvin also recommends that you approach this with some compassion. Since cutting back can bleed into not doing activities that make you happy, she recommends reminding yourself that this is a temporary pause rather than a permanent change in your lifestyle. Avoid overusing your credit card While utilizing your credit card to pay for some expenses is almost inevitable, it's best to not completely lean on credit while you're searching for a new job. 'If getting a new job takes them a little longer than they thought, that credit card has just become an anchor for them,' Mecham said. Even though unemployment is temporary, Mecham recommends cutting expenses rather than keeping them at the same level and leaning on credit. Find community resources Look for community resources, whether that means finding a food bank near you or applying for a temporary hardship program. 'Lots of communities offer temporary hardship programs when it comes to necessary bills, such as electricity or water,' Bryan-Podvin said. offers a benefit finder where you can find available programs and how to apply. Approach your job search with a plan As you are applying to new jobs, Lyons recommends that you take some time to assess if your professional goals are still the same. If you're continuing in the same field, Lyons recommends that you make your resume 'forward-looking,' which means showing your future employer what you can do, not just what you have done. 'You want to show the employer what you can do, what unique value you can bring to that particular job that no other candidate can bring because of your previous experience,' Lyons said. Lyons also recommends that you activate your network by reaching out to past colleagues on LinkedIn or attending industry networking events. Online certifications are another great way to make yourself a better candidate, she added. Create and maintain a routine Having a routine can help you take care of your mental health and keep a cadence of applying to jobs. Monday Mornings The latest local business news and a lookahead to the coming week. Plan your days so they include eating at your usual time, exercising and applying for jobs for a specific amount of time. 'When we are laid off, unemployment can feel really aimless, especially if it came at us kind of out of nowhere,' Bryan-Podvin said. It's also important to avoid isolating yourself and lean on your support system for emotional support, she added. ___ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
The Hill
23-06-2025
- Business
- The Hill
How to take care of yourself and your finances when you've experienced a layoff
NEW YORK (AP) — Recent layoffs from technology and media companies and government agencies might have you thinking about job security. Losing your job is a difficult thing to process and you might feel the impact in several parts of your life. But there are things you can do to alleviate some of the stress and anxiety. If you've been laid off, experts recommend that you first take a moment to process and then move on with a plan for your job search. 'A layoff can feel so personal but it's not a reflection of your value or what you contributed. Especially in the U.S., the work we do is so tied to our identity,' said Lindsay Bryan-Podvin, a financial therapist. Here are some expert recommendations to help you take care of your finances and your mental health if you've lost your job: Losing your job can cause a lot of stress and financial anxiety, so it's important that you take time to emotionally process. 'Acknowledge and normalize that they're going to feel a range of emotions, whether it's anger or sadness,' Bryan-Podvin said. Whether you are feeling sadness, shock, anger or even relief, taking a moment to feel those emotions can help you move forward. To make plans for the future, it's essential that you review your current financial situation, said career coach Marlo Lyons. If you have a budget, take a closer look and review whether you have expenses that you can temporarily cut to save money. Lyons recommends that you know how long your severance package will last if you're receiving one. Applying for unemployment benefits as soon as possible can help alleviate some of the financial stress of a layoff. While the amount you get for unemployment might not be as much as your salary, it can help you to stay afloat for some time, Lyons said. The Labor Department has tips on applying for unemployment. Getting laid off from a job can affect your self-esteem, so Bryan-Podvin recommends that you create a list of good qualities about yourself that add to your overall value as a person. Bryan-Podvin calls this a 'non-financial asset list.' 'If I were doing a non-financial asset list on myself I might say I'm a pretty good partner and a fun aunt,' she said. When working with her clients, Bryan-Podvin recommends that they create this list to remind them that their self-worth is part of their net worth. If you lose your job, you'll need to be more strategic about your spending, said Jesse Mecham, founder of the money management app YNAB. 'In a layoff, it becomes even more imperative that you treat every dollar with more attention than you have in the past,' Mecham said. Part of YNAB's budgeting strategy is giving each dollar a job, whether it is to pay rent, buy groceries or add to your savings account. When adjusting your spending, Bryan-Podvin also recommends that you approach this with some compassion. Since cutting back can bleed into not doing activities that make you happy, she recommends reminding yourself that this is a temporary pause rather than a permanent change in your lifestyle. While utilizing your credit card to pay for some expenses is almost inevitable, it's best to not completely lean on credit while you're searching for a new job. 'If getting a new job takes them a little longer than they thought, that credit card has just become an anchor for them,' Mecham said. Even though unemployment is temporary, Mecham recommends cutting expenses rather than keeping them at the same level and leaning on credit. Look for community resources, whether that means finding a food bank near you or applying for a temporary hardship program. 'Lots of communities offer temporary hardship programs when it comes to necessary bills, such as electricity or water,' Bryan-Podvin said. offers a benefit finder where you can find available programs and how to apply. As you are applying to new jobs, Lyons recommends that you take some time to assess if your professional goals are still the same. If you're continuing in the same field, Lyons recommends that you make your resume 'forward-looking,' which means showing your future employer what you can do, not just what you have done. 'You want to show the employer what you can do, what unique value you can bring to that particular job that no other candidate can bring because of your previous experience,' Lyons said. Lyons also recommends that you activate your network by reaching out to past colleagues on LinkedIn or attending industry networking events. Online certifications are another great way to make yourself a better candidate, she added. Having a routine can help you take care of your mental health and keep a cadence of applying to jobs. Plan your days so they include eating at your usual time, exercising and applying for jobs for a specific amount of time. 'When we are laid off, unemployment can feel really aimless, especially if it came at us kind of out of nowhere,' Bryan-Podvin said. It's also important to avoid isolating yourself and lean on your support system for emotional support, she added. ___ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
