A Dad’s Financial Survival Guide to 2020
2020 has brought on a new level of financial stress for everyone. Maybe you lost your job and have to scrape by to make ends meet. Or maybe you’re just struggling to balance all your responsibilities. Whatever your situation, it’s time to talk about the new level of money-saving skills we’re all gonna have to master to survive this year.
Find Your New Work/Life Balance
One survey found that 44% of families said losing child care was the reason they recently lost income. The coronavirus pandemic has brought parents and children home together for work and school. How are you supposed to get anything done with your kids around – let alone teach them anything? These survival tips may smooth out your experience.
Do Cheap or Free Activities Together
We parents need to remember – especially now, when we’re strapped for money and options – that kids really don’t need much to be entertained. Try some dad-approved DIY projects with your kiddos. Enjoy a camping getaway, or just pop a tent in your backyard. Keep things simple, use a little imagination, and create meaningful ways to spend time as a family that cost little to nothing.
Research Before You Buy
Before buying something, do some research to find the best price or value. Purchase seasonal items at the end of a season. Use browser tools to find the best online deals. A little research can ensure you get the healthiest items, too (for instance, did you know that European organic infant formulas are generally held to higher standards than American?).
You Are Your Greatest Asset
Sometimes putting in the time, money, and energy to invest in yourself can pay dividends in the future. If you’re hoping to pursue an education, learn a new skill, or become certified in something, maybe now you have more capacity to do so. Perhaps now’s the best time to take the plunge! 2020 might have sucked in many ways, but it has given us back time that we’d normally spend commuting. Assess the costs, your budget, any financial support you could receive, and the resulting payment increases, to decide if it’s really worth it.
Don’t Forget Rainy Days
Even in the midst of an economic crisis, it’s important to remember to 1) keep a monthly budget and 2) SAVE. Maybe you’re living paycheck to paycheck right now, but as soon as possible, start setting aside a portion every month to save for a rainy day – you never know when you might desperately need the funds.
Hailing from Philadelphia, Sam Jackson writes for Little Bundle, covering everything from parenting to personal finance. He is a dad of three you boys who run him ragged.