How to survive in economic crisis?

Anyone can be kept awake at night by the prospect of being hit by a huge negative event that could damage their money.

When you face such as a job loss, illness, a vehicle accident — or a pandemic. However, if you’re well-prepared, the possibility of something costly and out of your control becomes less frightening. Here are ten steps to dealing with a financial crisis.

TAKEAWAYS IMPORTANT

A monthly budget is necessary for keeping track of your financial situation.

Examine your bills to determine whether you’re wasting money you don’t have, and make sure you pay them on time.

Make paying off your credit card debt a priority, and hunt for cards with low interest rates.

Maintain everything from your car to your home.

To avoid costly difficulties down the line, return home to your health.

1. Make the Most of Your Liquid Savings

In a crisis, cash accounts such checking, savings, and money market accounts, as well as certificates of deposit (CDs) and short-term government investments, will be the most helpful. You should start with these resources since, unlike stocks, index funds…