Save time and money with my best-selling resources in Complete Change Your Finances Bundle.
Inside: 4 things to help you get control of your finances in a crisis. Make money the least of your worries with a solid plan.
The empty toilet paper shelves, the bare meat cooler and stay home order happened overnight.
Even though I was concerned about the impact the Coronavirus would have on our life… income… health… businesses…
My finances weren’t on the list.
Even though I’m not yet where I want to be with my finances, there was so much peace in knowing I had a plan.
4 Things To Do First With Your Money When You're Facing a Crisis
Summary
4 Tips How to survive a Financial challenge - do these first before anything else
Whether your day turned from everything’s fine to dealing with the shattered pieces in a crisis or you know there’s a potential challenge coming - downsizing, health issues, or something else.
There are 4 things you can do in your finances immediately to move through this difficult time with peace of mind about your money.
1. Know where your money is going and have a plan
Knowing exactly where my money is going and that I have money for all of the essentials to take care of my family’s needs, removes a ton of money stress.
I can breathe. And deal with the challenge at hand in a calm state of mind.
If the challenge affects your finances in any way, the first priority is make sure there’s enough money to pay for your family’s needs.
Need help coming up with a plan for your money? Check out my online class 7 Simple Steps to Make an Easy Monthly Budget.
For an easy-to-use budget worksheet, get the free Prioritized Expenses and Budget.
2. Reduce your expenses as much as you can
When money’s tight or I’m in the middle of a stressful situation, I can create more margin in my finances when I reduce expenses.
The margin frees up some extra cash to have on hand for pressing needs. I don’t have to stretch my money and hope I can make ends meet.
Related: {FREE Printable} 52 Ways to Save Money
Watch the video for the full explanation
3. Pile up cash
If the amount in your emergency fund is on the smaller side or you don’t have any savings at all, now is the time to pile up cash as quickly as possible.
Related: 5 ways to quickly boost your emergency savings
If you’re paying extra on debt, pull back and pay the minimums for now. Put the money you would have paid towards the debt into savings.
When the challenge blows over and you haven’t used the money, you can transfer it back to the debt. You won’t lose any ground.
Cash in the bank gives you options and keeps you from making a panicked decision.
Related: Ways to Earn Money From Home
For more tips, get the free 20 Small Things You Can Do to Improve Your Finances checklist.
4. pray and trust god to provide
No matter what the circumstance may be, I have always seen God come through and provide for my needs.
He promises to take care of us and He’s really good at keeping His promises.
So I encourage you to pray about your needs. Look for how God is going to show up and come through for you.
Related: How to be faithful with your money when you don’t have much
It will often look different than you expect.
When you put these four tips into place in your finances, even in the midst of a very challenging time, you can have peace of mind about your money.
How do you manage your finances during a challenging time? tell us below!
Resources
{Free} 5 Day Money Reset - One easy step to do daily to get control of your money in less than 30 minutes!
{Free Printable} 52 Ways to Save Money - One easy way to save money each week! Watch how much money you can save in a year!
3 Secrets to Mastering Unexpected Expenses {Free Class} -have a plan for unexpected expenses and know what to do when an unexpected expense comes up so it doesn’t wreck the budget!
7 Simple Steps to Make an Easy Monthly Budget - an online class that walks you through step by step how to set up a monthly budget that's easy to stick to. In less than 2 hours, you can set up your monthly budget without the stress!
Change Your Finances Bundle - 5 of my best selling financial resources for one low price! These products will help you change your financial future and will give you confidence with handling money. Get the bundle today!
Shop- Get all of my simple tools and resources designed to make managing your finances easy!
Money isn't scary anymore. I used to think that money was out of control and that was scary, never sure what was going to come up. Since I've been diving into budgeting and paying off our debt, it has brought so much freedom and peace of mind into our finances.
Andrea
If you liked this post, can you please share it? Thanks!
Related posts
My honest opinion of Master Your Money Super Bundle
You can have a better financial future.Peace of mind.Freedom to
Day 14 Ladies Savings Challenge: Internet
It's Day 14 of our Ladies' Savings Challenge!In the yesterday's
Day 13 Ladies Savings Challenge: Abundance Audit
It's Day 13 of our Ladies' Savings Challenge!In the yesterday's
Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!
