Planning for financial stability is difficult in and of itself; planning financially post-COVID19 for the unknown may be an even more daunting task. The past few months have rocked us to the core financially and now is the time to get back on our feet. Looking forward, we can see what mistakes we made in the past financially and now is the time to reflect on how to correct those errors. We need to plan for the time when our jobs are put on hold or if we are laid off. There are many ways to accomplish this task.
Seek Guidance.
Ask a financial advisor what he/she advises and stick to the plan created. I know you are thinking that must be expensive but as a military member, you have access to free financial planning through a few sources: USAA, 1st Command, Navy Federal, and Military One Source to list a few.
Know your Worth.
Take inventory of what you have in all your debits and investments; credit cards, loans, and bank accounts, that will help you decide what you have and what you are spending.
Planning for the Unknown
Written By: Misty Henderson