March 24, 2020
Start at the Beginning
It’s no secret that things are shutting down or reducing and changing all across the world. If your workplace has closed its doors and isn’t offereing pay, then it’s time for you to (calmly) regroup and get some things in order.
The thought of being without a paycheck can be overwhelming. I want to give you sensible, level-headed actions to take now. But first, step back and take a big, deep breath…Inhale…….Exhale! Ok, good. Now let’s look at some basic beginning things you can do to keep you on your feet.
1) Get on a budget
If you haven’t already been living on a budget, the time is now! Making a monthly budget will show you exactly where your money is going – no ifs, ands or buts about it.
Without a budget, you really can’t make every dollar stretch because you might not even know how much money you have to work with. Be proactive instead of reactive, this is paramount currently. Your budget will show you places where you can cut back and save. You can do this on a legal pad, notebook, Excel spreadsheet or try a FREE budgeting app called, Every Dollar.
If you don’t have any income right now, then make a budget based on the amount of money you currently have. If you have $600 left, budget out exactly where each of those dollars will go. It’s time to squeeze every last penny out of what you have.
If you still have cash coming in from a job or other source, then adjust your budget to reflect that. If at all possible try to live off of less than you’re bringing in while maintaining your minimum payments where applicable. Take any leftover funds and save them, no matter how small as it adds up.
- Need examples of budget forms you can fill in? Have specific questions about your situation? Text, email, or schedule a FREE consultation. Sometimes bouncing ideas off someone else is exactly what we need to calm the anxious thoughts.