Help Your Finances

Greetings all!

As we are trying to navigate these uncertain times, I think many of us are wondering if things are going to get worse and how to prepare for a possible downturn. 

One of the ways to start is to analyze your financial situation. What is your cash flow? How much are your monthly bills? How much do you have in savings? Can you spend less?

I recently read a good article “Steps to take to prepare for a recession.” The top recommendation from financial planners is to establish an emergency fund. Another one that I found relevant is to reflect on lifestyle and priorities. I noticed that in the last several months, I spent a lot of time thinking about priorities and about needs vs. wants. 

The disaster that affected our planet has put a lot of things into perspective. A lot of things seem unimportant right now. What remains important, however, is being prepared for unexpected. 

Source: https://www.journalofaccountancy.com/news/2020/jun/prepare-for-a-recession-financial-planning.html

Stay safe and healthy!