Stay Focused & Continue to Plan
Can you believe we’re heading into our 5th month of our “COVID finances”. For some, having to stay home has been helpful, as it’s allowed you to save and maybe even pay off some debt. For others, the financial uncertainty of your next paycheck or your businesses survival has never been greater. Just within our own communities and families COVID is hitting all of our bank accounts and lives differently.
It is critical during these times, that you keep a finger on the pulse of your finances. Keep looking for ways to cut your bills, curb lifestyle spending, and boost your savings as these uncertain times are expected to remain with us for at least the rest of the year. To help with this, I added some financial calculators to my website. Now you can easily see how your money can grow in a high yield savings account, or how much you can save refinancing your mortgage. Interest rates are still at a record low, so this could be a great option for some.
With COVID looking like it’s going to be with us for a while, it’s best to plan accordingly. If you don’t have it, focus on building your 3-6 month emergency fund. This is the greatest financial security you can give yourself. And remember, we will all get through this so continue to adjust for today’s uncertainties as well as it’s opportunities.
Wish you all the best and stay safe