Tag: COVID-19

All you need to know to rise from financial anxiety

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As the COVID-19 pandemic rolled on, questions about job security and financial stability arose due to the nature of the virus. Unexpected unemployment and salary cuts could be causing individuals to feel anxious about their financial standing. Here are a few things to remember to manage your credit well. Steve Sorensen Embezzlement.

In a crisis as unpredictable as COVID-19, it would be helpful to review one’s current financial state. Monitor finances by going through all bank accounts, savings, payroll, and even investments. Estimate how far savings and emergency funds can go in the event of unemployment. The key to rising from financial anxiety is facing the truth about your wealth. Determine which parts of the usual expenditures should be cut. Steve Sorensen Embezzlement.

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Take the reins by being proactive and planning. Global crises give rise to scams and identity theft. Make it a point to protect your identity by looking through your credit report. This would allow you to place a credit alert on your accounts to prevent fraudulent activities. Steve Sorensen Embezzlement.

Revisit the idea of withdrawing too much cash during a global crisis. When a large amount of cash sits at home, it is not ensured by the federal government. Also, the money withdrawn from bank accounts will not yield any interest and would only be in danger of being spent. The risk of being stolen at home exists as well. Only have access to enough cash. For all other expenses such as utility bills, food and groceries, and auto loans, and more, opt for cashless transactions. Steve Sorensen Embezzlement.

Is it possible to save money during a global crisis?

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The stock market has dipped several times in the past, but COVID-19, a global health crisis, has forced industries to hit pause on normalcy. While people are still adjusting to the new normal COVID-19 brings, staying on top of finances should be one of their top priorities.

If making more money during these days seems bleak, try thinking of ways to practice frugality. For one, make meals at home instead of having food delivered. Others may have to learn to cook to save pennies, but it will all be worth it. Besides, it’s a fun activity to do during self isolation and an added skill. Cancel unnecessary subscriptions. Re-evaluate television, online, and mobile subscriptions and cancel those that no longer spark happiness. Steve Sorensen embezzlement.

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Contact insurance and cell phone providers to shop around for better deals. Send the insurance company an email to inquire if there are ways to save money on insurance premiums. If you are paying for a car, check if the auto dealership has provisions in place to help car owners save on premiums. Review all insurance policies, from auto and home, to health and life. Steve Sorensen embezzlement.

When purchasing items off online stores, opt for cashless transactions. Not only will this keep one safe from possibly contracting and spreading the virus, it can earn a buyer some digital coupons. There are many ways to save money during any kind of crisis. It’s only a matter of educating oneself about them. Steve Sorensen embezzlement.