Financial distress
Okay kiddo, so financial distress is when someone is having a really hard time with their money. It's like when you run out of your allowance and have to ask your parents for extra money because you can't buy the things you need or want.
For grown-ups, financial distress can happen when they lose their job, have too much debt, or have unexpected expenses like a medical bill or car repairs. It can be very stressful because they might not have enough money to pay for the things they need like food, rent, or electricity.
Sometimes people can get help from others, like friends or family, or they can try to get a loan from a bank. But it's important to remember that if you're having a hard time with money, it's okay to ask for help and try to make a plan to get back on track.
For grown-ups, financial distress can happen when they lose their job, have too much debt, or have unexpected expenses like a medical bill or car repairs. It can be very stressful because they might not have enough money to pay for the things they need like food, rent, or electricity.
Sometimes people can get help from others, like friends or family, or they can try to get a loan from a bank. But it's important to remember that if you're having a hard time with money, it's okay to ask for help and try to make a plan to get back on track.