Do you know how much money you have in your bank account?
If you don’t keep track, a new study says you may not be alone. Roughly half of Americans aren’t sure how much money they have and are afraid to find out.
The study shows 55% of people admit fear keeps them from checking their accounts regularly. Also, the average person checks their account only four times a week and most Americans often feel anxious about it.
To add to the stress, the pandemic has made everything worse.
Here are some simple things you can do to improve your financial situation.
First, negotiate bills and fees if you are hit with an overdraft fee. Experts say banks and retailers would rather give you money back than lose you as a customer. They also say companies understand the stress of finances and are willing to work with you.
The study found 66% of people agree that if it were possible, they would use cash for the rest of their lives and never bother with a financial institution again.