The covid-19 pandemic continues to impact the lives of millions of people in so many ways, including the economical disruption that has placed people in financial vulnerability. Reduced salaries and job losses are taking a toll on the mental well-being of people. If you’re among such people, or you know someone who is then follow these simple tips to make your way through these tough times.
Take Inventory of Your Finances
Taking inventory of your finances can be your first step towards dealing with financial stress. Taking an inventory means to identify and list down everything that you spend your money on, from needs to want. This will help you to see what expenditure could be cut for the meanwhile and what are the absolute necessities that can’t be ignored, which will further allow you to manage your finances for the time being.
Identify Available Resources
There are two types of financial stresses right now, those who’re getting reduced salaries and those who’ve lost their jobs. If your salary has been reduced, cutting the expenses according to your current situation can help you survive through this time without further stress. But if you’ve lost your job and currently don’t have any financial source then you need to identify other resources you might have available.
Tap into your savings, seek help from your friends and family and explore the multiple policies that the government is coming up with, some that are general, and some that are being designed specifically for the covid-19 financial stress.
Make a Plan and Stick To It
Make a plan on how you’re going to tackle the finances for the time being and stick to it. The best way to do so is by identifying what needs the most attention, and what are those expenses that can’t be avoided. Focus your finances according to the plan that you make and don’t steer off it until you’re out of the crisis.
Open Up To Your Family About The Changes That Might Happen
The one mistake we usually make is to distance ourselves from our family during a time of crisis. Your intention might be to spare them from the stress but that doesn’t help, instead, it creates more friction in the family which adds to your stress.
Open up to your family about the problems that you’re facing and how you’re planning to deal with them. Reassure them that together you’ll be able to deal with it better.
The time is tough but you’re not alone in it. The situation is looking to get better and soon you’ll find your way out of this stress, just try to look at everything that you still possess that others aren’t lucky enough to have and find peace and positivity in that. Most importantly, don’t distance yourself from your family, you’ll be surprised at how easy problems get to deal with when you’re not alone.
Recent Comments