Whether you're working from home, working less hours, working more hours or not working at all, it is important for all of us to be proactive about our finances during difficult times (like a global pandemic). That's why we teamed  with Freya Kuka, successful finance blogger at Collecting Cents, to learn about the best financial practices for this tough time--and all the time.

Make Goals and Read Up

We should all be educated on personal finance, but there are so many resources it can be hard to know where to start. Freya suggests thinking through your goals for yourself before diving in--do you want to save? Get out of debt? Bring in more income? Whatever it is, figure out what you need on your finance journey and then start reading and learning as much as you can.

"If you are just starting out on your personal finance journey, a good first step would be to take some time to realize what your financial goals are so you can then narrow down on ways you can achieve them. If you start reading multiple books and blog posts without understanding what your problems are or having a plan of any sort, you are going to come to a point where you feel overwhelmed," said Freya.

Watch Your Utilities

Whether you've lost income or not, in tight times its advisable to make sure you are not wasting money unnecessarily. One of the biggest costs for many American families is utilities. Although it can seem like that is out of your control, there are easy ways to bring your bill down without having to sacrifice your heat or even take shorter showers!

"[An] easy way to bring down your utility bill would be to lower your gas usage. You can do this by making sure your furnace ducts and filters are clean and clear of any blockages that may cause issues. If you make sure to check air vents on a regular basis, it will help keep your heater running smoothly," said Freya.

You can also consider installing low flow showerheads or a programmable thermostat so you know what the temperature of your home is and are more in control.

Use Your Skills And Find a Side Hustle

Even if you still have a job, as the economy continues to struggle due to COVID, it is advisable to make sure you have multiple income streams.  Depending on your skills, this might look like consulting, tutoring, or taking on freelance work in your field.

"I would say the best thing you can do right now is to take yourself online. There are tons of jobs that have survived the pandemic. You could teach kids English online using a platform like VIPKID. If you are a licensed therapist, you could sign up on a platform like TalkSpace that connects clients and therapists virtually...Diversifying your income is more important right now than ever before," said Freya.

Although it might feel like the job market isn't ideal right now, there are actually plenty of roles that have survived, and even grown, during the crisis, especially remote work.

We wish you the best of luck in navigating this challenging time. You can find all our financial posts here!