I was on an Experian CreditChat Panel and was inspired therefore wanted to share some of my tips here. During this time we are all trying to cope with this COVID19 pandemic and the new norms. Some of us have never gone through anything like this before so we are learning as we go along. We are all trying to stay safe by practicing social distancing and staying in and sort of be quarantined.
5 Things to do:
1. Offer help to those in need. If you happen to have extra be sure to share during this time. Many people are suffering but some are not. Don't exhaust your essentials to give to others but if you have an abundance then consider sharing. If you do this, let the kids participate.
2. Continue to budget your money. It is extremely important to monitor what you are spending. A budget or spending plan is the best way to do so. Here is a free, downloadable, budget sheet you can use BUDGET SHEET. Budgeting is simple, write down all of your income and all of your expense and visit it regularly. Be mindful of dates as well.
3. If needed, contact your mortgage, rent and utility companies and make arrangements. Only do this if this is necessary.
4. Pay your credit card bills on time. If possible, pay the minimum balance and pay it on time. Paying on time is 35% of your credit score.
5. Spend more time with your family and BE PRESENT. What do I mean by that? Put the phone down. Play board games, cook, bake and organize closets together. Maybe each of you had a book and discuss the chapters as you go along.
5 Things not to do:
1. Don't panic buy. Buy things you need for your specific household. Right now the stores are staying open so when you run out of things you will have an opportunity to go and get more.
2. Don't spend more than what you need.
3. Don't sit around all day long in front of a computer and eat all day. Get up on move around and get fresh air.
4. Don't over consume the news. Watch to be sure you are current but don't consume it more than you need to.
5. Don't open any new credit cards.
Finally, please don't panic and get fresh air daily. Also, If you are one that may get a stimulus check put it to good use. Her are a few ideas:
Please remember to continue with your budgeting. Here is a free resource BUDGET SHEET
Write something about yourself. No need to be fancy, just an overview.