Learning how to manage money can decrease the feeling of stress and being burnt-out

Money management on two jobs can often be a difficult balance.
Published: Jun. 1, 2023 at 2:14 PM CDT
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RAPID CITY, S.D. (KOTA) - Interest rates are rising making managing money hard, causing some people to work multiple jobs at a time.

Overworking your mind and body trying to make ends meet can cause a person to burn out.

New data shows that 37% of people in the U.S. are working two full-time jobs to make ends meet. With inflation remaining high, there are steps a person can take to avoid the burnout that comes from working so many hours.

“So most people come in because their struggling and something isn’t working in their budget or their finances and they’re wondering what they can do. And so what we do is we ask them a lot of questions, we do an analysis and then we give them some suggestions of what would help improve their situation. Then they choose whether or not to implement them, or not,” said Bonnie Spain, executive director of Consumer Credit.

Spain says that the most important part of learning to manage money better is education. She also says that while credit is the most important thing, and while it takes some time to build it, it doesn’t take forever.

“A lot of things are going up, not as fast as what income is going up. And so we have to stop we have to make changes and a lot of times people are not sure where to make those changes, because sometimes if you make the wrong choice it just makes things worse. So what we try to do, especially for someone who is working two jobs, is what can we do to focus that extra income, so you don’t have to work that second job forever,” Spain continued.

Spain says that people need to be careful about what advice they follow. If it sounds too good to be true, it probably is.

“We see a lot of people de-stressed when they leave the office because just having a plan and knowing where you’re at makes a huge difference,” said Spain.

The best way to manage finances is to start education classes as soon as possible, but Spain says that anyone at any age can always improve their financial status.