Sadly, the first-half of 2020 has been cruel to most of us. Since the beginning of the year, we have dealt with several calamities, and currently, we cannot help but worry about our future as the coronavirus is continuously spreading not just in our country but all throughout the globe. Hence, COVID-19 is not only a threat to our health but also to our current financial status.
Due to the coronavirus, most workers were forced to stay at home. Some of them are lucky, granted with paid vacation/sick leaves while others are working in the comforts of their home. But of course, there are still unfortunate ones who lost their jobs as some establishments have no other choice but to close their businesses in the meantime. These heartbreaking circumstances are just a few of the major financial concerns everyone deals with today. So, to help you a little, here are some tips and reminders for you to keep your financial health intact.
1. Evaluate Your Current Income or Financial Status
How does coronavirus affect your current financial situation? Are you a lucky one and your job isn’t painstakingly affected by COVID-19? Or despite not being able to work, do you have other means of generating income even before the pandemic started? Can you still support yourself and your loved ones? Clearly understanding your very own financial status will help you come up with more ideas on how you can possibly improve your situation. It’s really hard to accept the new normal but looking at the other side, this can be the start of something new for you.
Vidalia Lending Corp. offers several kinds of online loans for your immediate cash needs especially in this time of the pandemic. If you are thinking of starting something to generate extra income and you need a little cash support, you can visit our loan page today!
2. Boost Your Emergency Fund
Nowadays, having an emergency fund is definitely a must. After coming up with a successful way to generate more income, fight the urge to use it for online shopping, and other unnecessary expenditures. Save at least a hundred pesos a day or if you really want to beef up your piggy bank, save even more. You’ll never know how much it can greatly help you in times of emergency because you’ll never really know when it will come.
3. Reconsider Cutting Your Expenses
Think twice about your spending habits in terms of your digital subscriptions, electricity, and internet consumption. You might not exactly notice or even care about the money you spend on these things before but this time, you should. We are spending too much on entertainment more than we know. It’s time to reconsider and reevaluate what are the things that really make you happy because it will surely save you some valuable time and money. It will not be only economically healthy but there’s a chance that it can encourage some productivity in you, too.
4. Avoid Panic Buying
Empty supermarkets are not new anymore. The moment people realized that COVID-19 is not a joke, everyone flocked to the supermarkets to buy all the “essentials” they need. This wasn’t really a bad idea, however, people could be better if they do not panic and think about the consequences of their action, in terms of both personal finance and social responsibility. Remember that you should consider your current financial standing first before you overbuy things. Uncertainties are all over and you will never really know what will happen next. Yes, the current situation can be upsetting and stressful but do not buy too much and still be aware of the things you should be prioritizing. It is important that you should still have enough cash for emergency purposes.
5. Be Kind to Yourself
Thinking about your financial status can definitely affect your mental health. Remember that although it is really necessary to make and save money, spare some time for yourself too. Take a deep breath. Do not overthink and panic because this too shall pass. Being constantly harsh on yourself will only pressure you and it might lead you to poor financial decisions. No one knows when this will end but we will surely get through this. Sit back, relax, think rationally, and come up with the best and the smartest financial decision for now. Take one step at a time and focus on what’s truly important; your overall health, and the health of the people you love and care about.
During these trying times, you might often think you are alone. That’s why we want to remind you that Vidalia Lending Corp. will always be here to help you. Whatever financial hurdles you may have, our online loans are just one click away. Simply download our mobile app or click this link to apply.