How are your personal finances handling the Covid-19 Pandemic of 2020? Recently I gave some survival tips for your financial health over the coming months. However, it is easy to let our environment dictate how we spend our money. This pandemic has ravaged many savings accounts due to a variety of reasons – job loss, unforeseen illness, stress, or just plain fear. During times like this, we need to wisely utilize our emergency savings, look for ways to save money when possible and appreciate those that we have around us.
Do Not Give Up Your Dreams
The pandemic and our country’s economic uncertainty will eventually pass. We will learn how to deal with our financial anxiety as things get progressively better. This is a good time to remember the personal finance basics – savings, goals, budgeting, and debt management. Do not get yourself into a monetary hole! Understanding that you may not be able to save much money right now, try to begin planning for your future. Is there a new job around the corner? Is moving an option? Or can you change something in your life to live out your dreams? What is it you really want to do with your life?
Support Your Dreams
In the summer of 2018, I left a long-term manager position at a local credit union. I had recently received my master’s degree in Business and I was set on becoming a college professor. My dream of teaching, however, morphed into creating a new business – FH Educators (FHE) – that promotes the need for financial health education for all ages. I still needed to bring in money while running a new business, so I began substituting at a local high school, running the front desk at a local senior center, and recruiting people to work for the U.S. Census. I still have my initial dream and I am preparing to take FHE to the next level.
Take Care of Business
Dreams aside, you must still pay the bills. Do not lose sight of what is important – your family and health. Remember the personal finance basics. As we get through these times of uncertainty, you should begin saving again and reducing any debt you may have accumulated. Do not forget your dreams. It may be a good time to start living them!
Personal Finance Coaching
If you need some personal finance coaching, check out https://fheducators.com/.