Do Not Use Up Your Entire Emergency Fund
Even though the pandemic is an emergency, this is a long-term one that might go on for months. You should avoid using up your emergency funds on Tylenol and toilet paper, especially if you are at risk of getting sacked. David Carlson, a certified financial planner, says that it is a good idea to have an emergency fund that can cover living expenses for six months. If you do not have an emergency savings account, this might be the time to open one. He said that even $500 can go a long way.
Do Not Use Up Your Entire Emergency Fund
Do Not Be Tempted By Cheap Plane Tickets
Both the CDC and the European Union are advising against any nonessential travel, both domestic and international. There are only several flights right now, so airlines have offered them at discounted prices. Feel free to go on a holiday if you want to put yourself at risk. You will not only be exposed to the virus, but you might not even be able to go home with all the flight cancellations. CNN said that a lot of travel companies are allowing for more flexibility in terms of reservations. If you booked your flights in advance, you should be able to refund or rebook them.
Do Not Be Tempted By Cheap Plane Tickets
