1 year ago






Sonic Career Series. Surviving COVID: Budgeting

Sonic Career Series. Surviving COVID: Budgeting

Hey guys ๐Ÿ™‹โ€โ™€๏ธ welcome to chapter 1 of our Surviving COVID series: Budgeting.

So far, the U.K. has seen over 190,000 redundancies. With the furlough scheme set to end in October, there are likely more to come.

Some of you may already be unemployed, so we want to help you manage your money as carefully as possible during this difficult time.

Step 1: Download mobile banking. Itโ€™s healthy to get in the habit of looking at your account often, and knowing exactly how much money is in there on any given day.

Step 2: Work out your monthly expenses. Hereโ€™s a list of some of the things youโ€™ll need to take into account:

๐Ÿ‘‰ Rent/mortgage

๐Ÿ‘‰ Phone bills

๐Ÿ‘‰ Car insurance

๐Ÿ‘‰ Subscriptions like Netflix, Spotify, gym membership

๐Ÿ‘‰ Council tax

๐Ÿ‘‰ Gas, electricity, water, wifi

Step 3: Where can you make savings? Perhaps youโ€™re eligible to reduce your phone bill, or maybe you can cancel some direct debits. They may seem like small savings, but they all add up.

Step 4: Whatโ€™s your budget? Set a weekly budget to spend on food, transport and any other unexpected expenses. 

Step 5: Make extra cash. What items in your home could you sell on Facebook marketplace? Here are a few ideas:

๐Ÿ‘‰ Clothing

๐Ÿ‘‰ Furniture

๐Ÿ‘‰ Kitchen items

๐Ÿ‘‰ Garden furniture

๐Ÿ‘‰ Tools

Whether youโ€™re unemployed or not, itโ€™s essential you get your finances in check to prepare for any unforeseen circumstances.

Good luck with your budgets! Iโ€™ll see you over in chapter 2 where weโ€™ll be examining new job opportunities you could consider ๐Ÿ’ฅ