How are you managing the realities of the continued COVID-19 crisis? To help gain perspective during difficult times, it can be helpful to step back, reflect, and take some time to make a plan for moving forward.
- Prioritize your bills. Getting the most important bills paid first is the most important thing in a time of crisis. Rent, groceries and utilities are your first priorities. If you have loans, such as a car payment, call and talk to your lender. You may be able to negotiate a different payment schedule. Know what has to be paid now and what bills can wait.
- Build up an emergency fund, no matter how big or small. No matter how big or small, a “rainy day” fund is the best protection. It’s never too late to start saving. Every little bit counts. You’ll be surprised how quickly it’ll add up.
- Start a budget. Setting a household budget doesn’t have to be complicated. Many people find they reduce financial stress by creating and following a simple budget.
- Plan for grocery expenses. There’s nothing like a crisis to help us stick to our grocery lists! Since the goal is to go grocery shopping no more than once every other week or so, make a shopping list and stick to it.
- Make it a family affair. Financial struggles are difficult on families. Take advantage of the learning opportunity. Make it a time to bring the family closer by working together.