Managing Money in a Crisis
Welcome to our Hoyes Michalos Debt Free Digest where we round up personal finance topics from around the web to help you live, and remain, debt free.
At some point we all deal with a money crisis. What are the dos and don’ts and how can you stay hopeful in a tough situation? That’s the focus this month.
How to Manage When Money Gets Tight
…It happens when you least expect it!
Tune in to this discussion with Maureen Parent and Doug Hoyes to get practical advice for navigating events like job loss, high living expenses and bill payments, recession fears, and so much more!
Good Reads From Around the Web
How to Cope with Financial Stress
Dealing with a money crisis is stressful. The key is to acknowledge the worry you face and take steps to help you cope.
This post by Elizabeth Scott helps you understand financial stress and effective strategies to deal with it.
7 Money Tips to Remember in a Crisis
- Don’t panic. While you may feel overwhelmed, take a deep breath and approach the situation with a clear head.
- Prioritize your spending and focus on the essentials.
- Don’t balance your budget with credit.
- Look for ways to save money, whether that means researching budget-friendly recipes or shopping sales, or cutting back on discretionary spending.
- Think way ahead – know what expenses are coming up & plan for them so you avoid surprises.
- Don’t rely on quick fixes. Be wary of promises that offer an easy solution for your finances, as these can come with hidden risks and high fees.
- Stay positive and focus on what you can control. Seek out help. Talk to friends. Remember that this too shall pass.
$50 Esso Gift Card Giveaway
Enter for your chance to WIN 1 of 10 free $50 Esso gift cards!
Gas prices are still high. This month you could save on spending by entering our $50 Esso gift card giveaway.
Enter soon. Giveaway ends February 23, 2023 at 11:59 p.m.
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