How to Budget: Financial Tips for Managing Your Money Right Now – SELF

5. You might be pleasantly surprised by your unemployment checks.

Obviously, losing your job and having to apply for unemployment benefits can be a devastating, stressful experience—especially in NYC where there are complaints of a complicated procedure and weeks-long wait times. But Liu says that many of her clients have been pleasantly surprised by how much they’re making on unemployment, which is sometimes as much as or even more than they were making at their job. That’s a depressing statement on the service and hospitality industries, but it might be encouraging for those who need those benefits now.

6. Don’t be too anxious to draw on your emergency fund—this is an emergency!

“There is an initial shock or hesitation to start to rely on the savings right now because we don’t know how long this will go on for,” Liu says. And it’s a fine goal to try to rely on those savings as little as possible to try to preserve them for the future, but don’t let it stop you from using what you need. “That’s what it’s there for,” she says. “That’s why we start an emergency fund in the first place.”

7. If you have a 401K, do your best to leave it alone.

If you’re in the fortunate position of having a retirement account like a 401K, try not to obsess over how those investments are changing day-to-day. And despite the
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