Hashtag

Money

Managing Your Finances in Uncertain Times

  • Written by News Company


No one knows what the future holds, but there are things you can do to manage uncertain times with more confidence and clarity. The choices you make can have an impact for years, but making those choices during trying times can be stressful and feel impossible. Try to remove the emotion from your decisions to make the best possible choices.


Build an Emergency Fund

Building an emergency fund is something you should aim for while you are employed. Having an emergency fund is the single most important step you can take in avoiding credit card debt. Having money set aside to handle emergency car or home repairs, veterinary expenses, or medical bills allows you to avoid putting those expenses on a credit card, which will then accrue interest and put you further behind.


Consider Returning to School

There are several benefits to returning to school when the economy is shaky. If you have current student loans you can have often deferred while you are attending school. The key to making the most of returning to school during uncertain times is to choose a degree that will make you more employable when you graduate. It is tempting to return to school because it feels like a safe way to hide from a questionable economy, but you need to make a smart choice.

If you already have existing student loans, you may question whether you can take out additional loans. This should not be a problem for most people. There are limits on the amount that you can borrow, but most people will not run up against that cap. If you do find that you are close to the limit on what you can borrow, refinancing your existing loans may be an option. If you want to return to school, talk to the financial aid office where you plan to attend, they have experience working with students from all different walks of life and can help you explore your options.

Prioritize Your Mental Health

When times are tough it can be easy to get stuck in a negative headspace. When you are worried about your finances, everything else may take second place. While it is important to stay on top of expenses, include wiggle room in your budget for things that improve your mental health. Plan a small treat, such as a weekly drink with friends, having your nails done, or a gym membership. Don't fall into the habit of spending money as a soothing device, which can quickly create a cycle of stress over finances that is not easy to break. Budgeting for the expense allows you to relax and enjoy it because you know you have planned for it. Planning for a regular treat also gives you something to look forward to. Spending money to talk to a therapist is another form of self-care. If your insurance does not cover this, many are available on a sliding scale basis. While the occasional treat is nice and can boost your mental well-being, it is no replacement for talking to a professional about what is going on in your life.

Finance

Navigating the Crypto Landscape in Australia

Are you a cryptocurrency enthusiast with a focus on Australia? Then, you're in luck. The Aussie crypto marketplace is active, competitive, and growing every day. As is the case in many other nations...

News Company - avatar News Company

4 Investment Areas Where the Rich and Successful Invest In

There are many reasons why the rich and successful continue to invest and earn handsomely. They are not only smart and well informed, but also willing to take calculated and balanced risks at all ti...

Thomas Carey - avatar Thomas Carey

Managing Your Finances in Uncertain Times

No one knows what the future holds, but there are things you can do to manage uncertain times with more confidence and clarity. The choices you make can have an impact for years, but making thos...

News Company - avatar News Company

WHAT ARE THE COMMON MISTAKES WHEN SENDING MONEY ONLINE?

What to keep in mind when making online payments to avoid extra costs? With the ongoing globalisation and widely available internet connection we tend to conduct more and more transactions onli...

News Company - avatar News Company

Adding Platinum to Your Investment Portfolio

The precious metals market can be a daunting place to enter as an investor, and for those who do, the investment options are usually gold or silver. Recently, however, more people have been turn...

Julian Carter - avatar Julian Carter

7 Most Popular Cryptocurrencies in Online Gambling

Today, there are so many betting options you can choose from when it comes to online gambling. There’s poker, esports betting, casino games, sports wagering, and so many more. But, you’re not alwa...

News Company - avatar News Company

Health & Wellness

Dietary Changes to Manage High Blood Pressure

Dr Felix - avatar Dr Felix

High blood pressure is often called the silent killer since it quietly damages blood vessels but usually produces no symptoms until it has already caused severe health problems. Fortunately, med...

What to Consider When Buying Pre-Workout Supplements

News Company - avatar News Company

Every serious trainer knows the importance of using pre-training supplements. These products improve endurance, enhance focus, and promote muscle development. This explains why they are gaining tracti...

Treatment Options Available for Eye Floaters

Julian Carter - avatar Julian Carter

Have you experienced seeing shadows in your field of vision? They may look like tiny dots or string-like cobwebs that tend to disappear once you try to strain your eyesight. These irritating obs...

4 Ways To Deal With Anxiety at Home During Lockdown

News Company - avatar News Company

Having encapsulated the lives of more than 3 million people across the world, COVID 19 is having a major moment right now. Especially ever since the lockdown was initiated a few weeks back, a lo...



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion