My relationship with money has never been constant. When I turned a year older, I wanted to be better at saving. Being the planner I am, I had a little financial plan that typically outlined what my expenses would be. The highest was on the fare to and from work.
Then this pandemic happened and many of us (including me), had to work from home for our safety. I thought I would be able to save a little extra, basically because I was not using the money I had set aside for fare. The math in my head made a lot of sense. But in reality, it was a little different.
We have had a tough past few months, and honestly, as we hope and look forward to better days ahead, our (yours and mine) health and safety comes first. However, with all the scary headlines, many losing their jobs, some taking unpaid leave and yet others having to take a pay cut, like me, you might be a little worried about your money.
While we do not have control over the stock market or our employers, there are still things we can do to take control of the little that we have right now.
Cut unnecessary expenses
In this situation, my policy has been to only buy what I really need. I had planned to do a whole clothes haul this month. But that had to be pushed. Also, I am a huge lover of fast food – but that has also had to be cut off. Can I make food in the house and still get satisfied? Yes.
Even if your income hasn’t changed, it might be time to take a hard look at your spending. What has snuck into your spending that you can live without? Look through your subscriptions – Netflix, Showmax, etc (I had to choose just one). Cutting down even a little may not seem like much, but when you are facing a tough situation, every little coin counts.
Work on other sources of income
I have been saving for something since the end of last year, and it just hit me that I have to take on other sources of income to make this happen. Working from home, I can spare a few hours to do that.
As you social distance and work from home, use your newfound time to your advantage. As we have seen, the world can be unpredictable. Other than having a good Netflix binge time, take up something.
This is the time to consider other ways you can make money remotely. This may require you to learn a new skill or do some remote work for free as you learn. Side-hustling is a thing right now, and you need it.
Try to stay calm
I know this is not directly related to money, but it can help you. When all this started, my first reaction was to ensure I have all the necessary items – medicine, personal hygiene stuff, milk powder and all. I did get personal hygiene stuff but realized I wouldn’t be any different from those hoarding tissue if I went panic shopping. Don’t panic shop.
Try and stay calm. Decisions made out of fear may not be the right ones. This is definitely overwhelming and terrifying for so many of us. But,
Be still, and know that I am God.Psalm 46:10
We will survive. We will get through this.