Financial Hardship
Financial hardship refers to a situation where an individual or household struggles to meet basic financial obligations, such as paying for housing, food, and healthcare. This can occur due to various factors, including job loss, unexpected medical expenses, or economic downturns. When faced with financial hardship, people may find it challenging to maintain their standard of living and may need to seek assistance from community resources or government programs.
During periods of financial hardship, individuals may experience stress and anxiety related to their financial situation. They might rely on credit cards or loans to cover expenses, which can lead to further debt. Understanding the signs of financial hardship is crucial for seeking help and finding solutions, such as budgeting, financial counseling, or exploring options like bankruptcy or debt relief programs.