Introducing the Uber Frugal Week: How to Manage Your Money in the Time Of Pandemic and Recession
The economic impact of the coronavirus is not good. Many businesses are shuttered for the foreseeable future. Last month a record-breaking number of people filed for unemployment in the United States. We’re barreling into a recession and I don’t think it’s going to be a short one either. I won’t sugarcoat this: the economy is bad and likely to get worse as isolation slows both the spread of the virus and the economy.
With that as cheerful backdrop, I’m launching a new series titled “Uber Frugal Month, Except In One Week Because We’re In A Pandemic Headed For A Recession: Oh Crap.” Rolls right off the tongue. Just kidding, we’ll call it the Uber Frugal Week, even though it’s going to be eight days long. Time has lost all meaning, so I figure eight-day weeks are next. The Uber Frugal Week is a condensed, pandemic/recession-focused version of my infamous Uber Frugal Month program.
The main difference is that the Uber Frugal Week dispenses with most of the psychology and background that the Uber Frugal Month addresses. The Uber Frugal Week is quick, dirty and designed with one goal in mind: to help you save more money right away and organize your finances in preparation for/response to a pandemic recession. If you have the time and would like to pursue a more holistic re-framing of your relationship with money, I encourage you to take the full 31-day Uber Frugal Month Challenge.
Help Others If You Can
Listen, I know not everyone needs to save money right now and if you’re financially able, please consider ways that you can support your community and local economy. Check out this post for ideas: How We Can Help Out During A Global Pandemic: Resources, Ideas, and Encouragement.
However, if you find yourself suddenly unemployed or at risk of losing your job, now’s the time to save like you’ve never saved before. If you don’t have an emergency fund, now’s the time to build one. If you don’t know how little you can live on every month, now’s the time to find out.
The Uber Frugal Week Is FREE
This program will be free because the last thing I want to do is charge people money during a time when they need to save money. While the Uber Frugal Month is an email program, the Uber Frugal Week will appear right here on the blog in a series of posts.
I’m rolling it out in this format because I think it’ll be easier for everyone to access and discuss in the comments section. Please share the series with friends or family members who might find them useful.
I will publish the Uber Frugal Week posts as quickly as I can, but in all honesty, I haven’t written all of them yet because pandemic means both of my kids are home all the time and my husband and I are both working from home.
Below is the table of contents as I envision it. I will link to each post as it is published. If you want to make sure you get a heads-up when each post publishes, sign-up for my email list in the box below (you’ll get an email every time a new Frugalwoods post goes live).
Uber Frugal Week Table of Contents (and yes, it’s 8 days long. Whoops.)
I’ll link to each Day as it is published:
Day 2: What to do if you’ve lost your job. How to navigate pandemic-related benefits and services, such as unemployment, health insurance through the Affordable Care Act (ACA), loan forbearance programs, what the new CARES Act and coronavirus stimulus checks mean for you, and more.
Day 7: Occurs to me we should probably talk about retirement investments at some point in here.
Day 8: Finding a balance between spending and saving in a time of uncertainty. There’s a human tendency to buy more when we’re stressed or depressed; how do we square that impulse with the very real fact that a recession is coming (or already here) and there’s a very real chance many of us will lose our jobs.
A Disclaimer About Me
I am not a trained financial professional and I encourage people not to make serious financial decisions based solely on what one person on the internet advises. I encourage everyone to do their own research to determine the best course of action for their finances. I am not a financial advisor and I am not your financial advisor.
Send Me Your Questions
Since we’re in an ever-evolving climate of fear and uncertainty, please feel free to send me questions you’d like me to address in this series. I can’t promise I’ll cover everything, but it’s helpful for me to know what you would like to read about. I will try to update and adjust the posts as your questions and responses roll in. You can comment on this post with your questions (that’s your best bet) or email me: firstname.lastname@example.org. Day One will publish later this week! Be on the lookout.
What topics would you like me to address in this new series?
Go here to start with Day 1 of the series
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