The pandemic has pushed many people to find alternative sources of income, but whats more important is to find ways to manage your money.
The current pandemic has made everyone disciplined on their spending. The reality is that many people are unemployed and are trying to save money or do a side hustle to put food on the table. It is evident that many people are trying to source multiple sources of income streams due to the economy being so volatile and the pandemic being impossible to predict as to when another lockdown may occur.
However, it has also opened our eyes to more innovative thinking and ideas. People have taken their thinking to the next level by implementing their ideas, because they were stuck at home not being able to do anything else or lost either job.
Below is a list on how to manage your money during this pandemic
- Keep records – Keep track of your expenses
- Set Realistic Goals – Do not make unachievable targets
- Reduce expenses – Make a list and cut down on the unwanted ones
- Find other sources of income – create yourself a side hustle
- Avoid long-term financial commitment – do not commit to things such as personal loans, vehicle loans etc.
- Avoid large, non-essential purchases – do not purchase non-essential things such as a new iPhone etc.
Managing money is a harsh process during this hard hid pandemic. It might seem impossible for us to even finance our day to day needs sometimes, but little steps can take you a long way. Moreover, managing money is a trial and error process and you might even find yourself needing to borrow money to make ends meet, however in such emergencies, you can opt in to get quick loan. You can always good quick loans Sri Lanka and find out vendors who will be of help to you.
