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20 Ways To Survive The Current Financial Crisis

ShannonMarch 23, 2020
Always make sure you have a heft savings set aside for emergencies. Credit: Shutterstock

2. Save, Save, Save

Saving during an outbreak may seem obvious, but it’s more important than ever to make a budget. Make a Google Sheet or Microsoft Excel spreadsheet and lay out all of your monthly expenses. Divide your necessities like food and rent from non-essentials. If you have anything left after paying your bills, save whatever money you can and prepare yourself for whatever may happen in the future.

Save as much money as humanly possible. Credit: Shutterstock

As much as the government is going to encourage us to spend money to help boost the economy, we need to look out for ourselves first and foremost. The only way to be prepared is to have a few months’ worth of expenses stashed away for emergencies.

How valuable are your skills in the workplace? Credit: Shutterstock

1. Increase Your Value as an Employee

In this time of uncertainty, businesses are going to reduce staff down to the essential crew members. One way you can improve your chances of job security is to make yourself more valuable as an employee. Ask yourself if your job is replaceable or if there are multiple people with the same position in your location. Try to do the best job you possibly can to prove you’re amazing. Go above and beyond to be a good, responsible employee. If your boss sees you as an essential member of the crew, you just might be able to keep your job during the crisis and survive budget cuts.

Even in a crisis, try to keep up with your skills. Credit: Shutterstock

Even if you get laid off, it’s still important for you to increase your value. The job market is about to become incredibly competitive, so you’ll need to shine during interviews. Self-improvement is a huge part of why some of the most successful people in the world became millionaires.

They never stopped trying to become better in their field, and neither should you. We don’t have a lot of control in this situation and it’s easy to fall into self-pity. Take advantage of the things you do have control over, which is your own health and skillsets. You still have the ability to work on yourself, even if you’re self-quarantined at home for the foreseeable future.