I read the headlines every morning when I wake up. It’s really not a great way to start the day. The pandemic news, along with stories about our struggling economy, has made me feel a little uneasy about the future. The seeds of fear have been planted, and my brain wants to prepare for these uncertain times by saving money.
Last pay period, we were able to save $1,000. In case you’re wondering, that is $750 more than we planned to save. But with all the kids’ activities cancelled, coupled with the fact that we never leave the house, we definitely have more money in our checking account right now. We could invest it or donate to charity, but my gut tells me to hoard all the cash. And I am a firm believer in listening to gut instincts.
I have no idea how long New Jersey will be on lockdown. Until this whole situation is over, I intend to sock away as much money as possible. Taking steps to increase our emergency fund during this time has definitely helped ease my anxiety. Saving money is probably just giving me a false sense of control during these uncertain times. But at least I am hoarding money, instead of hand sanitizer and toilet paper. That’s got to be a better way to prepare my family in the long run.
What about you? Are you taking precautions to prepare your family for the long term consequences of the pandemic? We would love to hear how you’re weathering these unpredictable times.