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The coronavirus pandemic taught us a valuable lesson:
You need to expect the unexpected--especially when it comes to your money.
In fact, it may not surprise you to know that 50% of Americans would experience financial trouble if they had to cover an emergency expense of $1,000 or more. That's according to a Charles Schwab Financial Literacy survey.
Pandemic and emergency expenses aside, money management is a real problem for us Americans. So, what do we do? Below, we have a few key tips you will want to make note of as you resurrect your financial literacy and outlook.
If you've visited my site often, you know I'm a huge proponent of financial literacy. All of us need that knowledge of money to make it in this world.
You are no different. But, it comes down to making it a priority.
Yes, I know what you might be thinking. When am I supposed to figure it out?
Well, you won't figure it all out in one day. However, you can spare 15 minutes or a half hour a day and do some research.
I even know how you can get it: cut down on social media time. I say this as someone guilty of it as well. Not easy, but doable.
Learn about money:
While this may not be the first option you would to consider, personal loans might be a fit for you during the pandemic. Obviously, you're not using this to buy "wants" over "needs" like a new television. But, a personal loan could help with paying off debt or allow you to keep up with bills.
If a personal loan is something you're thinking about, I'd recommend checking out Pigly. They have tons of free calculators for you to use--including estimating the monthly payments for your personal loan.
Related to personal loans:
Yes, that's right. Start a business in a down economy with little money.
Are you unsure how to get going? Well, I have a ton of resources on how to start your own business.
This will help you pay off debt and add savings to your name. No, it's not a quick and easy fix.
However, if you go with a personal loan, let's call that short-term thinking to help you right now. But, the side business is a long-term game plan to add household income and boost savings.
Here's some articles you'll want to review for making money online:
No, this hasn't been an easy time for anyone. But, it can still be something we all learn from.
It's time to readjust our thinking and make financial awareness a priority again. Whatever your money situation currently is, it can look a lot different 6 to 12 months from now if you are proactive.
Take that first step, and see where it leads.
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