It’s kinda ironic that April just happens to be financial literacy month and many have found themselves in a place that money is a concern with job losses, hours being cut back or even less customers buying from your business because they need to tighten the purse string.
So on this episode of the Catch Your Money Show, I’m going to share 7 tips for how to make the best financial decisions during a financial crisis. Now these tips are relevant no matter what the crisis is so even if you’re not in a crisis right now, you may want to take notes in case you need it if you ever find yourself in one.
Also when I say crisis, I’m not just talking to those struggling financially. I’m talking about the impact that a crisis could have if we are not wise with our money right now.
This is the time to make wise financial decisions so you can lesson the impact of a financial crisis.”
Here’s a sneak peek of the convo:
- [03:11] The first step to managing your money in a crisis is to do a net worth analysis.
- [07:05] How to create a crisis spending plan and how it differs from a regular spending plan.
- [11:20] How to prioritize spending decisions and which items can be put on hold temporarily.
- [19:19] Ways to generate some extra income during a financial crisis.
- [28:09] 7 things to do right now if you’re experiencing a financial setback.
Click here to listen to the episode now!
This episode is brought to you by my masterclass, The Battle Plan for Your Best Year Ever. Are YOU ready to be debt-free, make or save more money so you can achieve the financial freedom you dream about? If you are nodding your head yes, then join Laura on this FREE masterclass, where she gives you 7 “financially-freeing” strategies that you can implement now to completely turn your finances around this year. Click here to join the next class.
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Links mentioned in this episode:
- The Battle Plan for Your Best Financial Year Ever
- Free Up Money from Services
- Coping with Stress
- What to do When Your Income Drops
- Dealing with a Drop in Income
- Find a Local HUD Counseling Agency
- How to Choose Which Business Idea to Pursue
- Discover Your Unique Gifts, Talent and Skillset
Hang Out With Laura
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