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Managing Your Finances in First Quartal of 2021 During a Pandemic

By Eskanisa R

20 January 2021

Wisely, essential tips to manage finances in difficult times.

Photo source: shutterstock

Time goes by very quickly. January is about to run out, and new month just around the corner. Hence, new month is an ideal time to set a fresh financial resolutions considering how badly pandemic is. With simple, right steps to start saving money, you can set aside for all your short and long-term needs. Here are top tips for managing finances during this crisis to ensure you keep paying in all needs and start saving for future.

1. Making a Budget Plan
This plan can help you gain feeling of control over your money. In other words, budgeting help you prioritize your spending. Start to list your income specifially self-employed or those who have more than one income source, list them all.

2. Making Needs and Essential Items List
You need to make needs and essential items list for of what you’ll be spending each month including your gas, electric, water bill, groceries, food, loan payment, savings and other variety of things.

3. Track Expenses
Monitoring your expenses throughout monthly money plan. Make sure you’re recording all spending every day or every time you buy needs. Sounds little inconvenient, but it ensures you to know which post you need most and less.

Set Aside Little Money
During this uncertain, unstable conditions like this, it’s not too late to save small money. You can use that money as emergency fund. As the name implies, emergency fund is a stash of money set aside to cover costly unexpected events including layoffs, family that are sick, and more.

5. Increasing Your Income
Somehow, freelance work during pandemic is quick and easy way to increase your income. Thing to note, choose job most closely match the required skills you have. Freelancers also need to keep p with current trends in order to show your customers that you’re capable to do exactly what they’re hoping.  

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