What therapist Ryan Howes calls AFS(Acute Financial Stress) is the financial equivalent of PTSD and with equally deleterious health and pyschological consequences. The PHD speaks of 20 somethings laboring under the onerous responsibility of SIX FIGURE DEBT and many sleepless nights.
He also alludes to how infrequently people talk about their finances and how American culture almost encourages the shame and secrecy mindset towards those underwater with regard to their financial affairs. How many times have you asked your friends or families how they are doing and get a shrug along with a phrase like “money is tight” or “those friggin bills just keep adding up”?
So you might reply with a typical bromide like “hang in there” or “keep your chin up”, BUT now due to the insights and research of therapist par excellence Ryan Howes, you might now recognize this as pleas for help and assistance for loved ones who are too proud to ask for it!
Tangentially, Craig Molldrem, CLU, ChFC writes thoughtfully on medical student loan forgiveness that can potentially eradicate mountains of AFS inducing debt!