COVID-19 has been tough on people all over the world, not just us Kiwis. I know of many people that have lost their jobs and undergone financial difficulties. But worrying too much about unemployment and money problems can impact your well-being and mental health in a big way.
And with poor mental health, it becomes even harder to manage your finances. Additionally, being stressed over money issues can only worsen your mental health. For this reason, it is incredibly important to take steps while it is early. In this article, we share with you 8 things that if you do, will help you to be more in charge of your situation. We also suggest using an app called payaid to ease your financial worries. It is a payday advance app that enables you to get a portion of your salary in advance without any interest. You only have to pay a $5 fee and that’s all. Read on to learn our tips for coping financially in these difficult times.
Create a budget
One of the most effective ways of managing money worries is to create a budget. A budget has several benefits like helping you know how your money is being spent, identifying where to save, and enabling you to know what you can afford.
It is advisable to set a time every week during which you look at your bills and your other spending. This helps to prevent things from piling up. It also ensures you only withdraw the money that you need for the week.
Payaid has an intuitive budgeting tool called BudgetBud. This budgeting tool is a lot easier to use as it doesn’t require you to manually enter transactions. It records and groups transactions automatically and creates a budget.
Seek Financial Help
Do not be afraid to seek financial help. If you are a salaried employee and you experience difficulties, there are certain ways you can get help. But Kiwis don’t always have to take out expensive payday loans. Payaid is a revolutionary app that enables you to access a portion of your paycheck in advance. You will only pay a 5% fee but not interest. It means that, if you take $200, you repay $210 only.
Get free debt counseling
If you are steeped in piles of debt or have financial problems, you might think that it’s the end of the world. However, there are several organizations you can reach out to for advice on how to create a plan to help you feel more in charge.
Many people think that avoiding tackling your debts head-on is a good way to deal with them. However, you are best off facing your fears earlier and getting help. This way, you will overcome your problems sooner.
It can be tempting to avoid tackling debt head-on – but the sooner you face your fears and get help, the sooner you can start getting back on top of things.
Speak about how feeling
They say that a problem shared is a problem half-solved. Find someone you trust, like a close family member, friend, or colleague, and tell them about your situation. They can be of support to you, and even help you create a plan about what to do.
Remember that failing to open up and trying to soak up the pressure can even lead to depression. Covid-19 hit millions of people. So don’t think you are the only one. Talk to people and you will feel less pressure.
Don’t be too Harsh on yourself
If you are undergoing financial difficulties or have just lost your job, it is most likely not due to your personal actions. That is why you should not be too hard on yourself and start blaming yourself. The most important thing is to remember that your situation is only temporary.
If you have feelings of uncertainty, accept the fact that not everything is within your control. Try to focus your energy and time on what you can control.
Maintain a routine
You may no longer be working after losing your job. However, it is still important to maintain a routine. It gives your day structure that’s important in avoiding bad habits. Also, a routine boosts your mood and gives you a feeling of purpose.
Granted, this can be difficult if you feel low. We advise starting with easier activities which will improve your mood with time.
Have the same time of the day that you go to sleep and wake up. It’s even better if you can create a weekly plan for yourself. Have your day filled with positive activities like exercise, cooking, cleaning, as well as meaningful activities, for example reading.
And since you have the whole time you used to work, you can put it to good use by looking for a new job.
Look after your health
How we feel mentally and emotionally is linked to the state of physical health that we lead. During low times like these, the temptation to form unhealthy habits is strong. But this can only aggravate the problem.
Below are suggestions you can try:
Eat well- eat a healthy and balanced diet and make sure you drink enough water
- Keep active- perform exercises to make sure you are in shape
- Check your alcohol intake
- Quit smoking
Clear your mind
It is important to find time for relaxing your mind. A relaxed mind can help you better deal with worries and emotions, as well as improve your wellbeing. Learning relaxation techniques will also help you to tackle feelings of anxiety.
Another way to feel calmer is to take time to pause and concentrate on your breathing. Also, taking a couple of deep breaths can help, and so is learning mindful breathing exercises.
We are living in unprecedented times. Even before the pandemic, the world economy had already taken a beating. As a result millions of New Zealanders are going through difficult times. Fortunately, the Payaid app has been created to help ease the financial burden. With this app, you can access a fraction of your salary in advance at no interest fees. The app lets you access payday advance at no extra cost.