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.


How to find companies to invest in

Finding companies to invest in can be a challenge. We’re talking about your well-earned money here so it only pays to spend thorough research on which company your money will grow. The journey...

News Company - avatar News Company

Why Should We All Focus our Attention in Bitcoin Rush?

The money that is falling, which could mean that its economy is slowly sinking, and there is inflation, globally, and after the rise of its pond, unemployed who have all over their heads. So, what...

News Company - avatar News Company

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 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

Health & Wellness

All You Need to Know About Tooth Plaque

Marife Boiser - avatar Marife Boiser

Tooth plaque, while not deadly, is certainly not something to be taken lightly. It’s considered the root of all dental health problems. Bacteria present in plaque create acids that devastate y...

Scalp Experts’ Guide to Nailing Your Scalp Regime

https://agency.businesses.com.au/australian-news/2753-acma-on-attack-against-illegal-offshore-gambling-websites - avatar https://agency.businesses.com.au/australian-news/2753-acma-on-attack-against-illegal-offshore-gambling-websites

  People say that you should treat your scalp like the skin on your face? Why is scalp care equally important as skincare?   Renee: “It’s so true, you should treat your scalp ...

Treating Bed Bug Infestation: How to Say Goodbye to Bed Bugs with Top 3 Natural & Easy Sydney Pest Control

News Company - avatar News Company

Do you want to have a guaranteed assurance of a good night's sleep? We know how the thought of having the tiny blood-sucking bed bugs in your bed can be stressful and bad enough to send you over...

5 Types of Skin Concerns That Can Be Avoided

News Company - avatar News Company

It’s difficult to avoid spending time in the sun when living in a country with a hot climate. What’s more, there’s nothing quite like spending a day in the sun. The only problem is that ...

Writers Wanted

News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion