Although life is unpredictable, these tips can help you attain a sense of control.
Although life is unpredictable, these tips can help you attain a sense of control.
How to Take Control of Your Coronavirus Budget
ByTaylor TepperOct. 23, 2020
How to Take Control of Your Coronavirus Budget
How to Take Control of Your Coronavirus Budget
Budgeting is never an easy task, but it’s become especially difficult amidst the pandemic. Though life is unpredictable, these tips can help you attain a sense of control →
How to Take Control of Your Coronavirus Budget
Comb through your statements andcancel at least one recurring paymentyou no longer need, such as a forgotten TV streaming service or airline credit card with a large annual fee.
See more ways to save money
How to Take Control of Your Coronavirus Budget
For mindless saving,use a budgeting appthat tracks your monthly income and subtracts recurring costs (like debt payments or a cable bill). Then enter how much you want to save, and the app helps you calculate a custom amount to spend.
Find out more about the best budgeting apps
How to Take Control of Your Coronavirus Budget
Tocreate a starter emergency fund, put a regular percentage of your paycheck (if you can), or any lingering stimulus money, in a savings account. It can help smooth over income spikes and dips throughout the year.
How to spend a coronavirus stimulus check
How to Take Control of Your Coronavirus Budget
If you have a revolving credit card balance at a high APR or a high-interest loan with an interest rate above 5%,pay down that debt. Reducing what you owe and building up an emergency fund are in many ways equally valuable.
Read more about getting your debt in order
How to Take Control of Your Coronavirus Budget
Continue to spend prudently, even after months of doing so. Every little bit helps: Stretch the money that you’re saving by not going out on groceries rather than splurging on weeknight delivery.
Find a coronavirus budgeting plan that makes sense for you