Stackin, a Financial Wellbeing App, Reveals its Sign-Ups Increased as Consumers Need Help with Money Management

As searches for financial wellness skyrocket, financial therapist Megan Ford offers advice to consumers on how to look after their mental health – and their money

With the news covering inflation, recession and the cost of living crisis more, it’s no wonder Americans are “feeling the financial stress.”

Online searches for ‘financial therapy’ are up 60% year-on-year and the question ‘how not to stress about money’ has been searched 53% more times. Searches for ‘financial wellness’ have increased 52% in the last three months alone.

Stackin, a financial well-being app announced that its sign-ups “increased by 49% and subscribers increased by 30% in November as more and more Americans realize they need help managing their money – and their mental health.”

Co-Founder, and President Sam Garrison said:

“We created Stackin because we saw a need to address money matters in a different way. As we face higher rates of inflation, increases in the cost of living, and dangerously high reports of a decline in mental health, we felt it was necessary to work alongside a financial therapist, Megan Ford, Ph.D. to develop the Stackin framework. Since our launch, we have steadily grown our subscriber base and just last month had our largest increase by 30%.”

Megan Ford, financial therapist at Stackin, explains:

“Times of stress and uncertainty can incite a desire for change and relief, so it makes sense that more people are attuning to their financial stress and looking for new ways to alleviate it.”

With the recent increase in subscribers, Dr Megan Ford has provided some steps to help consumers manage their financial well-being and mental health at a time of great uncertainty:

Tip #1: Don’t underestimate the power & significance of your feelings.

Undoubtedly, the mechanics of money management “are an important component to financial wellness, but the vast majority of our financial decisions are driven by emotion, nearly 90%.”

Financial wellness isn’t just “about sticking to a budget, investing, or planning for retirement. It’s also about more healthily managing your thoughts and emotions around money, including the anxieties you might be feeling over the economy and rising prices.”

Bringing more awareness to your internal state is “the place to begin.”

You can start “with your body.” Do a scan from head to toe and “notice what’s there – sensations, emotions, or experiences.” Don’t judge, just observe. Identify areas of discomfort, tightness, or unease and “take a few deep inhales and exhales as a way to release tension or energy.”

It’s not about changing our feelings, it’s about “noticing them, staying present, and taking some focused moments to reflect with curiosity.”

Tip #2: Make financial self-care a part of your routine.

Making time for your money and your mental health is “key to feeling more balanced and well.”

So, just like “prioritizing care of your body and your mind, incorporating more financial self-care into your daily or weekly routine can be really great for your overall well-being.”

Make a commitment to yourself and “pick a consistent time each week for money time.”

Maybe even “pick a fun or humorous name for that time so the task feels less intimidating.”

This time can be “used for various financial tasks, but don’t neglect to spend some time on reflection (e.g., How is my relationship with money doing? Am I on-track with my goals? What is one small thing I could adjust? What did I do well?).”

After all, financial self-care “is two-fold; attending to both your internal and external experiences with money.” It is “about awareness and action.”

Tip #3: Give yourself credit for small wins.

Money talk often “centers on problems or things we want to change.” While it’s good to notice things that “need adjustment and reach for our goals, don’t forget to acknowledge yourself for the little things and minor behaviors that keep you on-track each and every day.”

Small contributions “truly add up, but it often takes a perspective shift and some tracking to fully recognize it.” Cultivating and bringing to mind smaller, positive money moments more regularly can “serve to reinforce all the things you’re doing well, and makes it more likely you’ll repeat them.”

Tip #4: Grow a money community.

When we’re struggling emotionally and financially, this can “feel very isolating, leading us to believe that we are alone in what we are trying to deal with.” Financial wellness “involves building up and connecting with a community of people who can be a safe space for money conversations, which can include a financial therapist or financial coach.”

Too often, we’ve been programmed to bury or avoid money talk with others out of perceived politeness & social conditioning. While we don’t unlearn this overnight, you can start by identifying people or groups who you can trust to talk about money, your feelings, frustrations, and concerns. Knowing you aren’t alone gives you the sense that your struggles around money are “normal” and validates your feelings.

Tip #5: Reframe your money setbacks.

We will inevitably “make some financial mistakes and we will experience setbacks. When we stumble over a financial decision or a money goal “not quite accomplished, our outlook can make all the difference.”

Examine these missteps “with genuine interest, rather than shame or blame.” That way, you’ll create more space “for the insights and lessons embedded within experiences that didn’t go the way you expected or planned.”

Financial stress “affects the way we interact with everyone around us, and there is no better time than now to understand and work on your relationship with money.” Stackin provides beneficial information that “has been shown to decrease financial stress, anxiety, and depression for its users.”

Headquartered in Los Angeles, CA, Stackin is “the money guide you’ve been wanting in your life.”

Stackin makes sense of your money “in a straightforward and helpful way — embracing that money is emotional.”

With a personalized plan based on an individual’s core money beliefs, Stackin helps people reach their goals “through a coach-based and supportive digital experience.”

Stackin gives people “the guidance, tools, and know-how to bring their finances into the modern age.”

It empowers users “to take actionable steps toward the life they’ve always dreamed of and to be in control of their money.” Personalized support engages “with members weekly on topics ranging from saving money toward goals, understanding their impulse purchases, diving into money behaviors, and more.”

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