Personal Money Service — Rita Cheng shares “Practical Financial Tips to Help You Survive the COVID-19 Crisis”
September 7, 2020 — Personal Money Service reporters explain in today’s issue: “The current economic crisis across the world due to the COVID-19 pandemic has already changed our reality. Plenty of people have lost their jobs temporarily or permanently and thousands of citizens are still scared of how things might change in the nearest future because of the pay cuts.
“It is scary and devastating to live in the new world with no stability at all. Many employers who paid their employees for the first months of lockdown have become reluctant to continue the payments. It is understandable as businesses don’t have profits as consumers don’t spend money anymore. As a result, people started changing their financial habits in order to adapt to new rules and survive.”
Reporters turned to CPF® Marguerita Cheng for practical tips to apply during the current crisis that can be useful for improving your personal finances and stability. She knows: “Nobody likes to necessarily plan for the unexpected because it can be unpleasant, intimidating, overwhelming, and frightening. I think financial planning helps folks feel more prepared to weather the volatility and uncertainty.”