COVID-19 is affecting so many people right now, and many people are unable to work because of it. Some people are earning a percentage of their regular pay, others are earning hardly anything – if anything at all. If you’re having to deal with a reduced income due to everything going on right now, then you need to ensure you’re managing your money properly. Below you’ll find some advice that could help you:
- Look At Your Options If You Have Debts
If you have debts, then you have a few options you can look into. There’s no need to panic just yet. There may be interest-free overdrafts you can take advantage of, as well as payment holidays on things like loans and credit cards. You might also be able to get reduced or delayed mortgage payments, as well as a plethora of other things designed to help you get by during this time.
- Figure Out What Your Priorities Are
Make a list of incomings and outgoings and ensure you know what your priorities are. If you’re lucky, you may actually be saving money at this time on things like fuel, travel, and so on. Put a budget in place so you can afford the things you need right now, such as food, the bills you have to pay, and so on. Make sure you know what’s truly important and avoid spending your money on anything that isn’t.
- Use Smart Ways Of Saving Money
There are lots of smart ways of saving money you could take advantage of. For example, you could plan your meals for the rest of the week, use up all of the toiletries you have before buying new ones, and use comparison sites to see if you could get cheaper bills. Always look for ways to bring down the cost of your lifestyle and ensure you’re not wasting money on things like subscriptions you don’t use. If you’re a member of a gym and you don’t want to cancel, ensure you get a payment holiday or something along those lines.
- Make Sure You Get All Of The Money You’re Owed
Now could be the right time to get the money you are owed. If friends owe you money, explain to them that you need it. Make sure you’re being paid the amount you have been promised by your employer, or the government, too. You may decide to contact a trip and fall accident attorney about an accident you had a little while ago. You usually get two years to report an accident and make a case, so don’t wait too long.
- Talk To Somebody If You’re Struggling
Struggling with money is a horrible feeling, especially when you feel like you’re all alone. Make sure you talk to somebody if you’re struggling, whether somebody you love or a therapist. Don’t wait until you feel like there’s no hope left.
All we can do right now is live in the now and accept what is – do your best to manage your money using these tips and you should have less to worry about.