coronavirus / money management / saving

Don’t Panic: Make These 3 Money Moves to cope with Coronavirus

The Wirecutter recommends:

1. Get your debt in order

If you don’t pay in full each month: Lower interest payments on your credit cards. Call your card companies and negotiate a lower rate.
Refinance your mortgage
Use federal student loan protection

2. Shore up your cash

 Save the money you would’ve otherwise spent. You’re not eating out commuting to work, getting your hair cut, etc.

Budget for a month. Use your prolonged indoor time to create a budget.

3. Ignore your losers

stocks go down, often dramatically, and the value of your 401(k) may drop along with them. That’s part of the risk you take when you put your money into the stock market: You get higher returns than with bonds and you need those higher returns to grow your nest egg.

Get the details:
Source: Financial Planning for Women