Jessica Willis, founder and CEO of Pocketnest chats with Ashleigh Craven, CMO of Pocketnest to reveal top tips to manage your budget during the COVID-19 crisis.
Yes, this is a scary time. But! You are not alone. The entire world is experiencing the same fear and uncertainty as you are. And, together, we will get through this.
Watch the following video to learn expert-led, easy ways to manage your budget during the COVID-19 crisis.
Pause. Take a breath. And get to a place where you can look at your finances with a rationale mind.
Take note of your cash flow. Have a good sense of what your current budget is. What’s coming in (earning) and what’s going out (spending)?
Determine what’s a need and what’s a want. Before you start slashing your budget, make a decision on items/purchases that you need, and therefore can’t cut, and what you simply want, and may be able to cut.
Make substitutions when you can. Organic veggies and pricey gym memberships are great! But, hey, canned veggies and free YouTube workouts also work.
Find debt relief. Due to the CARES Act, you don't need to make student loan payments until Sept. 30, 2020. As far as other debt, if you’re having trouble, contact your credit card company or debt providers and see if they’ll work with you. Many institutions are providing more forgiveness and leniency than they typically do.
Now that you have a better idea of how to navigate your budget, download the Pocketnest app to get all of your finances in order.