How to manage finances in this season
1. Reduce outgoings.
This is the time to evaluate all the monthly subscriptions and expenses. Review your bank statements, direct debits and standing orders and ensure you map out your need versus want to survive financially. This could be cutting out your biweekly cleaner, gym membership that you never used, magazine subscriptions, even savings needs to be evaluated.2. Analyze Incoming.
How has Covid-19 affected your weekly or monthly income. If your employer is generous enough to grant work from home that sounds great. Many self employed people will get the hit and would be forced to re-evaluate their business strategies. Look into citizens advice and other government scheme that might be able to provide guidance and assistance.let us remember the people in need and vulnerable ones in the society.
3. Beware of Scams, Frauds and Gambling.
This is a great time for fraudster to take advantage of people's finances and resources. Many people are using the internet and social media during this world wide holiday period. It is a time to watch for virus on your computer, limit online shopping and being more aware of those weird phone calls asking for personal information. Don't fall into old habits of gambling as this is not a time to indulge into money loosing habits.In conclusion, are you struggling with finances during this season - visit https://www.moneysavingexpert.com/news/2020/03/uk-coronavirus-help-and-your-rights/.
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