How to Manage Your Money During COVID-19

How to Manage Your Money During COVID-19

Jun 18, 2020

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How to Manage Your Money During COVID-19
During these uncertain times, it can be easy to feel overwhelmed, especially when it comes to your finances. Whatever your situation may be, take a look at these tips to help streamline your financial planning and manage your budget throughout COVID-19.  
  • Research your options
Knowledge is your best friend in moments of uncertainty. Knowing what to do if you can't pay your bills is essential for protecting your assets. Talk to your landlord, credit card company, or lender to find out if they are offering any relief options during the crisis.  
  • Analyze your annual memberships
Consider how often you use your memberships to gyms, social clubs, apps, and streaming services. If you use them less than 30% of the year, consider canceling the memberships. Consider canceling software you don't use any more or your gym membership if lockdown had you loving home workouts.  
  • Create an emergency credit
If you had already built up an emergency credit, you may have already dipped into it during the crisis. Now is the time to build it back up gradually or to start one if you haven't already. Having a financial cushion to fall back on in challenging times is a great way to alleviate stress and anxiety.   While you focus on managing your money throughout these troubling times, leave your insurance in the capable hands of Bell Black Insurance. We serve all insurance needs for those in Idaho Falls, Island Park, Driggs, Victor, Swan Valley, Ashton, and the neighboring communities in Idaho, as well as Jackson and Star Valley in Wyoming.