She Strengthens

Taking Control of My Finances

As I reflect on my journey towards financial responsibility, I realize that it wasn’t until the COVID-19 pandemic hit that I truly understood the importance of making smart financial decisions. Prior to that, I was stuck in a cycle of procrastination, telling myself that I had plenty of time to get my finances in order.

The Wake-Up Call

When the pandemic struck, I was forced to confront the harsh reality of my financial situation. I was lucky to still have a full-time job, but the significant pay cut was a rude awakening. It was then that I realized I needed to take drastic measures to ensure my financial stability.

Building an Emergency Fund

One of the most critical lessons I learned was the importance of having an emergency fund. I had always known it was essential, but I never made it a priority. During the pandemic, I set up biweekly automatic payments to my high-yield savings account, and I’ve since managed to save three months’ worth of expenses.

Diversifying My Income

The pandemic also taught me the value of having multiple streams of income. When my salary was cut, I realized how vulnerable I was to financial shocks. I decided to pursue freelance writing, which not only helped me feel more financially secure but also became a creative outlet during a stressful time.

Cutting Unnecessary Expenses

Quarantine forced me to reevaluate my spending habits, and I was shocked by how much I was wasting on unnecessary expenses. By making simple changes like brewing my own coffee and cooking at home, I’ve been able to save hundreds of dollars each month.

Reducing Credit Card Debt

Another bad habit I had to break was relying on credit cards as an extension of my income. By reducing my credit card limit and paying down debt, I’ve been able to free myself from the cycle of overspending.

Building Financial Literacy

Finally, I’ve been using my spare time to learn more about personal finance and good financial planning. By setting aside time each week to read, listen, and watch content about money, I’ve been able to improve my financial literacy and make positive changes in my life.

The Biggest Lesson

The pandemic has taught me that financial emergencies can strike at any time, and it’s essential to be prepared. I’ve learned that procrastination can have severe consequences, and taking control of my finances is crucial for my future well-being. Although it took a global pandemic for me to learn this lesson, I’m grateful for the wake-up call, and my financial life has been forever changed for the better.