Are you worried about the health of your money right now? We live in stressful times and it’s hard not to let money anxiety creep in. There are ways to stay calm in a time of crisis. Here are 5 smart money tips to help during a pandemic. | Smart money tips for emergencies | Smart money tips for a pandemic | pandemic preparedness | pandemic survival

Coronavirus: What To Do (and what NOT to do) With Your Money

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Are you worried about the health of your money right now during this Coronavirus outbreak? We live in stressful times and it’s hard not to let money anxiety creep in. There are ways to stay calm in a time of crisis. Here are 5 smart money tips to help during a pandemic.

These are rough times, y’all. It has been a scary month and we are not yet at the peak of the Coronavirus outbreak.

For someone who has anxiety (i.e. me), and even if you don’t, well I know we are all feeling stressed about our health or money situations on some level. I was calm about the Coronavirus until about two days ago and then I could feel my anxiety creeping in.

Schools are closing for weeks. Stock markets are extremely turbulent. Worries about health and about the Coronavirus and money are pretty natural to have right now. We haven’t been through this before, and we aren’t in control.

Since rational thought is usually a better idea than freaking out and panicking, I wanted to think of the things that are in our control regarding money during this pandemic. 

You might also want to take a look at ideas on the new normal: 6 things we should keep doing even after the pandemic ends.

This post may contain affiliate links. Please read my disclosure for more info. 

5 things I’m doing regarding Coronavirus and money:

These are the things I’m doing about the Coronavirus and money and maybe they will help you too.

1. Try to take the middle ground.

 Don’t panic but don’t bury your head in the sand either. Listen to the experts and follow precautions and protocols. Wash your hands. That shouldn’t be revolutionary.

At the same time, try not to give in to the feeling of wanting to hoard or stockpile supplies. This leaves less for other people, and for hospitals and nursing homes and places that truly need more of these supplies.

2. Hold tight with investments.

Don’t make any sudden moves. Yes it absolutely sucks and yes your investments have gone down, but things WILL recover. It will take months, not weeks, but selling now when stocks are abysmally low is just a recipe for losing money.

It will take a while for the markets to recover, but they always recover, even after very dramatic lows like we’re experiencing. So don’t panic sell.

3. Try to look for the positives.

I understand how hard this can be when there are big not-good things happening world-wide and right in your neighborhood. But I’m trying to find gratitude each day and that helps keep you more level-headed in times of crisis.

What is good in your life right now?

Maybe you’ve always wanted to try working from home and now you get to.

Maybe you have been forced to slow down, and your body will thank you for that.

You might get more time to spend with your kids/spouse/loved ones.

Maybe now you have the time to work on some home repairs or home projects you’ve had in the back of your mind.

It’s inevitable that we’re going to be hearing about the Coronavirus multiple times a day, for many weeks or possibly months still. So combat hearing stressful news, practice gratitude.

4. If you’re stuck at home, learn to make money from home.

If you’re stuck at home, avoiding being in public places, now is a great time to pick up even a temporary side hustle. Increasing your income in times of crisis and fluctuation is never a bad idea and can make you feel calmer knowing you have an alternate source of income.

 Some people are feeling a huge pinch with investments, or health insurance, and although all signs point to things leveling off and increasing again economy-wise, this dip could be longer that people initially thought.

Here are 8 ideas of temporary side hustles:

5. Budget-friendly ways keep the kids entertained while you’re stuck at home

Here are some non-screen activities we have on the go to keep our normally highly social 4-year-old busy while we stay at home more:

And for the adults: 15 Things to do when you’re bored at home

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Are you worried about the health of your money right now? We live in stressful times and it’s hard not to let money anxiety creep in. There are ways to stay calm in a time of crisis. Here are 5 smart money tips to help during a pandemic. | Smart money tips for emergencies | Smart money tips for a pandemic | pandemic preparedness | pandemic survival

Are you worried or staying calm about the Coronavirus and money?


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4 thoughts on “Coronavirus: What To Do (and what NOT to do) With Your Money”

  1. Worried, no, however, I am interested in ideas and ways to make money online. With that said, I won’t pay $495 to learn how to sell on Amazon. Based on pure observation, it seems to me people are actually making money from the courses they create than from the content of the course. I’ll find my way to something that feels right for me. Appreciate your suggestions.

    1. There are so many different ways to make money online these days. I think in that way we are so fortunate that there we have these options to work from home. I can’t imagine how much harder this would be if it was 20 years ago. I hope you’re well and thanks for stopping by Yvonne!

  2. Suchot,
    You always post some awesome content , especially for these trying times. We are spending more money than we probably should, but the pool and landscaping was set up way before this all started. At least we can enjoy it while being at home. Hopefully the pool will be done in about 2 weeks.
    Congratulations, you are being featured at Over The Moon Linky Party. I hope you stop by.
    https://www.eclecticredbarn.com/2020/04/over-moon-linky-party_5.html
    Hugs,
    Bev

    1. Bev, that means so much, you just made my day! <3 Thank you. Your pool will be such a nice respite because this will still be going on for a while. xx

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