4 ways to get financially healthier during (and after) the pandemic

The pandemic has left many Charlotteans in tough financial situations, but luckily there are ways to make your bank account healthy again.

The pros at Bank of America have tons of helpful resources on Better Money Habits to get you back on track no matter what your situation is. Here are a few to check out:

For working from home expenses

Working from home expenses can add up. A Creditcards.com survey found that the average U.S. household is spending about $108 more a month as a result of working from home.

If you’ll still be working from home for the foreseeable future, it might be worth reworking your budget.

Things like meal planning or upgrading items in your home to be more energy efficient are just a few ways to cut down on costs.

Get all of Bank of America’s tips for reworking your work-from-budget.

For overcoming financial stress

Any kind of stress can affect your quality of life in a negative way, but financial stress can be particularly burdensome. Whether you’ve incurred unexpected expenses or are just struggling to pay your bills each month, there are ways to tackle this kind of stress.

Step one: Bank of America’s financial experts recommend writing down your three biggest money challenges so you know what you’re up against.

Read the rest of Bank of America’s tips for confronting your financial stress.

For tips on how to build an emergency fund

If the pandemic has taught us anything, it’s to expect the unexpected. Building an emergency fund is a good way to prepare yourself for life’s surprises.

It’s recommended that you have a few months worth of expenses in your emergency fund. So if your monthly expenses are $2,000, you’d want to have at least $6,000 saved in your fund.

Feel daunting? Try breaking down your emergency fund goal into small chunks. For instance, you could start by saving $100 a month, and by the end of a year, you’d already have $1,200 saved.

Get more tips for jump-starting your emergency fund.

For managing your money after job loss

During the past year, many Charlotteans lost their jobs due to the pandemic. If you’ve found yourself in that boat, there are some money moves you’ll want to make while you’re looking for a new role.

Step one: Make sure you collect any final payments from your employer. You may even be allowed to collect payment for unused, accrued vacation time and sick days.

Read the 10 other money moves to make after job loss.

Want more tips for getting financially healthy? Check out Better Money Habits for advice on everything from paying off debt to saving for retirement.

This content was created in partnership with Bank of America.