COVID-19 outbreak was an unfortunate event that has affected, not only national economy, but individual and family economy. Few ways to keep up with finance during this challenging time are given below:
- If safety can be maintained, try as much as possible to keep your jobs. Do not put politics over financial livehood. Stay in your job.
- If applicable, harness your digital skills and hobbies and turn them into paid freelance revenue as additional or main income source.
- If you are a small business owner, explore business support from local, state, and federal governments. Reduce spending, while your revenue is stagnant or low.
- Health is wealth. Try as much as possible to keep up with health safety of yourself and your families. Keep up all recommended health guidelines. Frequent hand washing, keep social distancing, and use mask in public places. Eat healthy foods and have adequate sleep.
- Always maintain emergency fund for at least six months for foods and basic family upkeepings.
- If you lost your job, apply for unemployment as soon as possible and keep applying for another jobs. Ensure the targeted jobs offer safety consideration.
- Call and talk to your creditors such as mortgage, loan, and credit cards companies. Request for low or no interest, if you are currently experiencing financial hardship.
- Give a long break to buying what you want but you don’t need, especially when your revenue is low.
- Stop accumulating additional debts.
- Support policies that could enhance national economy. National economy influences individual and family economy directly and indirectly.
