Over the past few months, we have seen a rollercoaster of a stock market and the numbers of coronavirus cases rising and falling as well. One of the best ways to feel confident in your finances is to budget—the right way. We have put together the top four ways to budget during a time like this. Keep reading to learn about them!
1. Analyze Where Your Money Goes
When it comes to your spending habits, you need to take the time to analyze exactly where your money is going and how much you are spending. There are numerous apps that can help you track your spending, or if you prefer to handwrite down your expenditures, that works, too! Here are some apps you can try in the meantime:
· You Need a Budget (YNAB)
Having a steady list of your wants versus your needs will help you in the long run when it comes to budgeting. Right now, it might be difficult to differentiate between your wants and your needs. Being stuck at home, whether you are working or not, has served to be a great distraction for some. In fact, online purchasing has seen a huge spike since the start of the COVID-19 pandemic. While the sales and lack of indoor shopping can be tempting, remember to consider only what you absolutely need to buy online instead of new things that pop up on your browser.