If you’ve been laid off due to the coronavirus pandemic, you’re not alone. Over 40 million people across the U.S. are facing this harsh reality. The pressure of caring for children while searching for a new job is overwhelming. Daily expenses rise as kids need food, clothes, and care. Yet, there are steps you can take to ease the burden during this tough time. This post will explore practical ways to manage stress and manage your finances during the coronavirus pandemic.
Prioritize Your Health
You are of no use to your children if you’re in poor physical or mental health. Times may be rough at the moment, but you must continue to prioritize your health. Eat three nutritious meals a day, stay hydrated with plenty of water, exercise for at least 30 minutes to an hour five days a week, and get at least 7-9 hours of sleep each night.
As for your mental health, learn how to cope with the sometimes overwhelming emotions you feel. It’s completely normal to feel stressed about your finances and the well-being of your family during these uncertain times.
Suppressing your feelings and using unhealthy coping mechanisms (food, drugs, alcohol, etc), however, can lead to mental illness and addiction. If you believe you’re showing signs there is mental health treatment in Santa Barbara and across the nation, you can reach out to for assistance.
File for Unemployment
The first thing you want to do is file for unemployment. Though some states are slow to payout, it’s better to have your information in the system than to procrastinate. Due to the coronavirus pandemic, many unemployment claims are getting approved a lot faster. It won’t be the full amount of your normal paychecks, but it can be enough to help support your family.
Apply for Assistance
Whether you’re qualified for unemployment or not, there are other government-funded programs that you may qualify for to make life easier. This can include financial assistance, food stamps, free or affordable health insurance, rental assistance, utility assistance, and more.
Dip Into Emergency Savings
If you’ve been setting aside money for a rainy day, now would be a good time to fall back on it. Use your emergency savings to pay for things your family needs that your unemployment income and/or financial assistance programs won’t cover. Make note of how much you take from your emergency savings account so that you can create a plan to replenish it in the future.
Find Ways to Make Money
As you embark on your job search journey, start looking into other avenues that can make you some extra money. Do you know fact that there are many ways compiled on https://businessfinancearticles.org/ to make money with your home without doing any physical work. You can answer surveys, write reviews, sell products online, start a blog, become a freelance writer, manage social media accounts for businesses, and much more. If you have a particular skill that you believe could prove beneficial, teach others for a fee. You can tutor children online, teach music lessons, start an online exercise class, or create online courses for business management, accounting, etc.
Cherish These Times
Not everything about the coronavirus pandemic has to be negative. For instance, families have more time than ever to spend with each other. Cherish this time that you have with your children before distractions like school and work return. If your children are struggling in school due to remote learning consider hiring a tutor. You can find tutors in every subject such as math, English and even a Science Tutor.
Plan fun yet free or affordable things to do with the kids. Ride bikes in the park, have a picnic on the back porch, do arts and crafts, perform science projects, or just sit around and watch a good movie together. This helps to ease the stress both you and your children are likely under right now.
Job security is not guaranteed for anyone. That’s why financial experts advise us to have more than one income source. Be that as it may, no one could have predicted or planned for something like a virus to turn their finances upside down. If you find that you’re under a great deal of financial and emotional stress, take comfort in knowing that there are some solutions that can help ease your frustrations.
As the coronavirus pandemic continues, managing your finances is more important than ever. By tracking your spending, creating a budget, and looking for new income sources, you can take control of your financial situation. Remember to prioritize your needs and plan for the future. Stay informed and adapt to changes as they come. Take charge of your finances today for a more secure tomorrow.
