Ever wondered about your spending and whether there are areas you could be cutting back on? Perhaps you have some subscriptions and outgoings you feel may not be essential right now?
Yesterday we had money expert Stacey Lowman, founder of Pachira Money talking all things money, budgeting, saving, investing and what to do during a global pandemic.
For those who missed the live, here are some key takeaways:
Get clear on where you are right now. Look at your assets, what you own, what you have in your banks accounts, what you owe and when you owe it.
Look at your expected income over the next few months and scenario plan, have conversations with your clients, partner, look at what support you can access if you need it and know what you’re entitled to. Don’t put your head in the sand!
Then work out how much time you have each week to monetise your ideas and skills from home, do you have a car and could you offer a delivery service? Do you have a skill or service you could monetise online? What networks are you a part of that you could the promote your services across?
Then ask yourself how much do you actually need? How much would feel ok? How much would feel great? Now is the time to reset, be creative and ask yourself what your values are when it comes to spending. Now is the time to readdress all those companies taking your money and to ask yourself “are they putting my money to good use?” If not, is there a more sustainable, green or impactful business you can be contributing towards?
Investing – are you willing to put your money away for five years and not touch it? If so, there are loads of platforms out there and it’s about doing your research and finding one that works for you. Here are a few we know and love -
And a few inspiring money accounts include:
For Covid-19 financial support head to Stacey’s website which includes all the information, support and resources you need during this time.
Got any suggestions or fave accounts and platforms of your own? Drop them below