Is the state of your finances stressing you out?

You're not alone.

A recent survey showed that finances are the #1 cause of stress.

Politics, work and family issues followed suit.

But there are a few strategies you can use to minimize financial stress. Here they are:


✈ Get clear on your financial situation - How much do you make? How much do you owe?

✈ Get Financial Goals - think about how money stresses you - Are you in debt? Are you living paycheck to paycheck?

✈ Set priorities about paying off debt - How much is the debt, plus the interest on that debt costing you financially and emotionally?

✈ Create a budget - or a guideline for your money! Make it easy on yourself but don't forget to set aside a bit of money to enjoy.

✈ Check your accounts on a regular basis. This allows you to see if your cash flow doesn't align with you goals, or if there has been fraudulent activity.

✈ Don't be hard on yourself. Every once in a while you are going to spend more than you wanted. Just realize that a p...

In an ideal world of aviation, pilots would start with a legacy carrier before they turn 30, start saving for retirement by at least maximizing their 401(k) account and stay married to the same spouse for the entire time.

The previous scenario should create a very nice income to support a very nice retirement lifestyle.

Unfortunately for many, "livin' the dream" doesn't look like that. It sometimes looks like you're hanging on for dear life!

Instead it's a roller coaster, with income taking massive swings as pilots progress from one airline to another, sometimes taking a furlough or displacement along the way. And those are the lucky ones!

Many pilots have seen their jobs collapse right under their promising career as the carriers close shop.

Personally, I have experienced two airline closures, two furloughs and a displacement.

Just when I though the going was going well, 9/11 happened. And then you realize it's well beyond your control.

Never again.

N...

After a lot of research, I tripped over a great gem of a Checklist from RAA.com, a financial consulting firm that caters to professional pilots.

Check it out: "Managing Reduced Income: A Checklist for Airline Pilots

After more than 25 years in the cockpit, Captain Vince Kramer recently hung his wings up. Like so many airline pilots these days, he took an early retirement package from a major airline.

Here he offers some insight into how he found a passion and is pursuing it and hopes to inspire pilots facing furloughs and displacements to find their passions as well.