raaman
Valued Contributor
Financial decisions in difficult times.
If you are unemployed, here are a few recommendations to adjust your finances. The health crisis caused by COVID-19 has not only had health consequences, but also economic ones. Derived from the confinements, there was an increase in the number of people who were left without a job or, in the least of cases, saw their salary reduced.
According to the International Labor Organization (ILO), in the year of pandemic, lots and lots of people lost their jobs. Losing the job is one of the biggest worries for most people, since they have to face difficult situations such as not able to pay their financial commitments, day-to-day expenses, their own, and family, and not having a fixed income.
Here are some financial recommendations that may help you in difficult situations like the recent pandemic:
1. If you are unemployed, you must adjust your expenses to make your life move on.
2. Analyze the situation, and determine the amount of money available with you, either saved or received through severance pay.
3. Estimate the amount of your debts.
4. Determine the fixed expenses to be made.
5. If you have unemployment insurance, you can seek guidance on applying for this benefit.
Organize your finances:
Prepare a new budget or modify the existing one to fit your current situation and that of your family, if you live with them.
Evaluate the time that you will be able to maintain the new standard of living with the income that you have available in hand to deal with your debts.
If you are unemployed, here are a few recommendations to adjust your finances. The health crisis caused by COVID-19 has not only had health consequences, but also economic ones. Derived from the confinements, there was an increase in the number of people who were left without a job or, in the least of cases, saw their salary reduced.
According to the International Labor Organization (ILO), in the year of pandemic, lots and lots of people lost their jobs. Losing the job is one of the biggest worries for most people, since they have to face difficult situations such as not able to pay their financial commitments, day-to-day expenses, their own, and family, and not having a fixed income.
Here are some financial recommendations that may help you in difficult situations like the recent pandemic:
1. If you are unemployed, you must adjust your expenses to make your life move on.
2. Analyze the situation, and determine the amount of money available with you, either saved or received through severance pay.
3. Estimate the amount of your debts.
4. Determine the fixed expenses to be made.
5. If you have unemployment insurance, you can seek guidance on applying for this benefit.
Organize your finances:
Prepare a new budget or modify the existing one to fit your current situation and that of your family, if you live with them.
Evaluate the time that you will be able to maintain the new standard of living with the income that you have available in hand to deal with your debts.
