Keeping On Top Of Your Finances

Keeping On Top Of Your Finances

With everything that is going on at the moment with the current Covid-19 pandemic.  Many of us have found our finances have been suffering.

Some have lost their jobs, many have been furloughed, others have seen a dramatic drop in their monthly wage.  Which is why I am looking at keeping on top of your finances.

 

finances
Photo by Michael Longmire on Unsplash

Monthly Budgeting

We all try to budget our finances monthly, we know what bills we have to pay

  • mortgage or rent
  • utility bills
  • food
  • council tax
  • school trips etc

We also usually know what our monthly income will be.  This makes budgeting easier.

But when suddenly the country goes onto lockdown, we are suddenly thrown into a different way of life.  Suddenly we are all at home.  Children are at home, which we all know they are forever hungry, which increases the food budget.  Our bills are increasing due to more electricity being used.  Some have had to purchase laptops for their children to carry out school work.  Which all adds to our outgoings and dwindling savings.

stressed
Photo by Nik Shuliahin on Unsplash

When will this end

The answer to this is who knows.  While we all wait patiently for the next announcement we all know it is going to be a long time before things start to get back to normal.

Talking to family and friends I know everyone is worried about the future.  It seems that every day we hear of someone losing their job.

The Government are trying to help businesses, mortgage and loan companies are trying to give holidays.  But let’s be honest how long can they keep doing this.

hep
Photo by Dan Meyers on Unsplash

What are the solutions

Honestly, only you can help yourself get through this. But you do not have to do it alone.  There are ways you can be proactive in your monthly budgeting and getting through this

  • Don’t bury your head in the sand
  • Share your worries
  • Research
  • Contact your utilities, landlord, mortgage companies
  • Ask for help

If you are struggling start at the beginning.  Get all your outgoings and use companies like Calculator.me.  I have found this a great help in trying to work out finances and see if I can make any changes. They have calculators for everything from mortgages and loans, savings, car finance and much more.

I have been using their Family Budget Planner and found that seeing everything there in front of me. I have been able to reduce my outgoings.

Are you worrying about your finances? What have you done to try to get through the lockdown until things start to return to normal?

Keeping On Top Of Your Finances

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