Digital Exclusive: Budgeting amidst COVID-19

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(YourBasin) – As unemployment sky rockets and some works facing their hours getting cut, it leaves many pondering how to make ends meet.

Two experts, Heather Massey and Mickey Cargile, say it’s time to bring out your bank statements with pen and paper to deem what’s essential and not essential for you.

“So you want to look at the essentials first. Obviously, you have to pay your mortgage, you have your electricity, things like that are essential but what are things that are not essential. So, really take a hard look at your budget and also put a pen to paper. So, you really want to write everything out,” says Heather Massey, Senior Regional Director of the Better Business Bureau.

Massey states that often times when you see and write down the numbers that you find areas in your budget you can cut. She also recommends researching and finding coupons.

Though she states that it is common sense but says a lot of sites are offering great deals on things people use every day.

“So do a little bit of research ahead of time and it could save you a lot of money in the long run,” said Massey.

As millions file unemployment claims it can be frustrating trying to work the website and playing the waiting game for benefits.

“Stay with it. Stay on your computer. Even though you keep getting the failures to get registered on the program make sure you stay with it and get registered,” says Mickey Cargile, Cargile Investment Management, “treat it like that’s your new job.”

While most wait on their stimulus check, Cargile stresses that it isn’t being sent to waste. He says if you receive the check you should set it aside in place of emergency expenses or a rainy day.

“Save that money till you know where you are on your personal income,” says Cargile.

Both Massey and Cargile agree that these times are a great time to teach kids how to budget. Cargile states especially in our local economy of living in a boom or bust town.

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