When things are uncertain, it can be easy to feel a little overwhelmed. Recent global events have shown to us all just how quickly things can change, and when something leads to intense market volatility, then really, it comes as no surprise that so many of us can feel overwhelmed and even anxious.

Employment, finances, and other aspects can worry us, but things don’t have to be as out of control as they might first seem, when times are uncertain. It doesn’t have to be a health crisis that occurs that can have an impact, but other uncertain situations can arise too. However, there are some particular things that we can do to make sure that we protect ourselves, and protect our finances. 

Just holding on when a crisis occurs can leave you feeling in a more tricky and anxious situation than before, which is why taking some steps to improve things, and taking some action now will help you to be better prepared for what could come in the future.

As a result, those anxieties can be reduced, and you’ll feel power and strength as you are more in control of things. So start now, and then you can be ready financially should anything like this happen again.

Connect With a Money Mindset

You might be familiar with the concept of having a money mindset, or perhaps you’re a little more convinced that money is simple and there are no grey areas within it. But even for some of us who are the most financially-savvy, things like our emotions, as well as feelings of self-worth, and a sense of safety, can have a really huge impact on how we see money, as well as how we interact with money.

When there are times like this that are quite charged with emotions, then money sham can be something that can rear its head, which isn’t going to be a positive thing for you.

That is why one of the first steps to making healthy choices with money, as well as improving the mindset around money, is making sure that you have time to connect with your thoughts.

If you are getting mad at yourself wondering why you didn’t build up an emergency fund a while ago, or if you are thinking about a big change in career and wondering why you chose to do it, then it can all lead to negative feelings which isn’t going to help. One important thing is that you shouldn’t dismiss your feelings, however, you should give them a little space.

When you do this, it means that they can help you remember what you want to achieve, and then you can go from there. If you look to develop a positive mindset with money, then it can help you to feel more at peace with things, and more able to move forward. Small steps at a time can make a difference. 

Check Your Emergency Fund

Having an emergency fund is one of those things that we all know about, but how many of us have them and put it into practice? But really, it is for those uncertain times in our life, that we really need to have them.

It can vary from person to person, as some can have several month’s worth of money saved up, whereas others can hardly get together some cash. But really, whether or not you have any savings, it is now an important time to check what you have, and see how far it would be able to stretch if needed. 

If You Currently Have An Emergency Fund

If you already have some savings, then do you know the precise amount? How much do you have, and how much does that amount relate to the expenses that you have each month? As a rule, it is a good idea to have at least three months worth of cash in savings, for the things that can come up in life. Things like job losses, health problems and hospital bills, as well as other emergencies can all help when there is something saved up. 

If You Don’t Have An Emergency Fund

There will be another group of people who don’t have anything saved up at all. But first of all, it is important to refer back to the original point and give yourself a little bit of grace, as you connect with a positive mindset around money, as you can’t go back and change things; you need to focus on the present.

There are still some options for you, though. If you have got a job that is somewhat stable, then it can be a good idea to start thinking about what you can put aside each month in order to save. A little bit each month can really add up, and a small emergency fund is going to be better than nothing. 

For extra peace of mind, it is important to make sure that at a time like this, you keep getting on with your work. When you work from home, possibly with children around, it can be pretty understandable that things will be hard to juggle.

But when there are uncertain situations, you will want to make sure that you are doing all that you can for your employer and making sure that you’re a vital part of the team. 

Diversify

It is important, if you want to look after your finances, to have diverse control over what your money looks like and where it all is. Having one job is one thing, but how safe is it?

If you can look to diversify what you do, perhaps with a side hustle or two as well, then it can help to build up an emergency fund, or help to provide the finances when things are so uncertain. You could look to get started trading binary options, for instance, as that is something that can be done from home, and can be lucrative.

You could also look into other investments, such as property or investing in small businesses, if you have some up-front cash, or the ability to get it. There are a number of things that you could do from home, though, all depending on what you want to do, and how much time you would be able to commit to it.

For a number of people who invest money, they tend to have some pretty decent emergency funds. However, volatility is something that makes us want to make a change or do something new. Yet, often, one of the only things that you can do is keep steady with things.

That is why if you are looking to invest, you should review the goals that you have, as well as assess your tolerance to risk. When things are uncertain, and this is a path that you have chosen to go down, the proportion of stocks or bonds that you might have may have changed a little because of the climate. 

If you do start to feel a little more stable financially, with some cash savings, then you could look to increase your investments a little. Of course, this can change, but seizing opportunity is important when it comes to investing.

It is important if investing is what you choose to do, that you don’t try to guess the market and what things will look like, because panic is what can cause you to lose money. Focus on the goals that you have, and then it can be a sound decision for your investments and your financial future when things can be uncertain. 

Review Your Budget

In situations like we’re facing right now, you have to think about, more than ever, where your spending is and where your money is going.

How much money do you really spend each month and what is it all being spent on? What kind of spending could you cut down on? This is where having a budget really is a vital part of life and being in control of finances. Budgeting is associated with being so dull and not much fun at all, but of course, it doesn’t need to be that way at all.

It is just making you much more aware of what you are doing, and much more aware of how much you are spending. Then you can be intentional with your spending, and you can keep the cash for the vital things that you need in uncertain times, rather than in being spent on things that are non-essential. 

To get started with your budget, whether writing one from scratch or simply reviewing one, then you need to know exactly what money you have coming in, and be precise. The same goes for spending.

Take the last few months statements from the bank and go through them; where are the similarities and where are the differences? From there you can start to track your expenses, helping you to be much more mindful of your cash flow, as well as your spending choices.