• SHOP
  • SITES
  • NEWSLETTER
  • CEO HACKS
  • GLOBAL SEARCH
  • WEB SUPPORT
  • CONTACT
Rescue a CEO
  • Advice
    20 Entrepreneurs Reveal The Best Way to Learn Leadership

    20 Entrepreneurs Reveal The Best Way to Learn Leadership

    18 Entrepreneurs Share Some of The Best Leadership CEO Hacks and Resources

    18 Entrepreneurs Share Some of The Best Leadership CEO Hacks and Resources

    8 Entrepreneurs and Business Owners Explain How Coaching Has Affected Their Leadership Style

    8 Entrepreneurs and Business Owners Explain How Coaching Has Affected Their Leadership Style

    16 Entrepreneurs Reveal How They Market Their Business During the Slower Months

    16 Entrepreneurs Reveal How They Market Their Business During the Slower Months

    21 Entrepreneurs Share Advice on Building a Team

    30 Entrepreneurs Share Advice on Building a Team

    7 Entrepreneurs Share How They Approach Tax Planning

    7 Entrepreneurs Share How They Approach Tax Planning

    8 Entrepreneurs Share Advice on Securing Venture Capital

    8 Entrepreneurs Share Advice on Securing Venture Capital

    30 Entrepreneurs Share How they Find, Recruit and Attract Talent

    30 Entrepreneurs Share How they Find, Recruit and Attract Talent

    30 Entrepreneurs Share Their Best Delegation Tips

    30 Entrepreneurs Share Their Best Delegation Tips

  • Productivity
    16 Entrepreneurs Share How They Focus

    16 Entrepreneurs Share How They Focus

    30 Entrepreneurs Explain the Best Ways to Get Out of One’s Comfort Zone

    30 Entrepreneurs Explain the Best Ways to Get Out of One’s Comfort Zone

    30 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

    30 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

    30 Entrepreneurs Share Their Thoughts on The Future Impact of Coworking

    30 Entrepreneurs Share Their Thoughts on The Future Impact of Coworking

    29 Entrepreneurs Explain Why They Have OR Don’t Have A Virtual Assistant

    29 Entrepreneurs Explain Why They Have OR Don’t Have A Virtual Assistant

    30 Entrepreneurs Explain How They Maintain Balance as CEOs

    30 Entrepreneurs Explain How They Maintain Balance as CEOs

    25 Entrepreneurs Explain The Best Ways to Get Out of One’s Comfort Zone

    25 Entrepreneurs Explain The Best Ways to Get Out of One’s Comfort Zone

    Teaching an Old Dog New Tricks – How Working From Home is Cultivating a Creativity Revolution

    Becoming Productive: Finding Your Balance

    20 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

    20 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

  • Answers
    30 Entrepreneurs Explain How They Use Their Blog for Business

    23 Entrepreneurs Explain How They Use Their Blog for Business

    17 Entrepreneurs Explain How They Keep Track of Their Numbers

    17 Entrepreneurs Explain How They Keep Track of Their Numbers

    30 Entrepreneurs Explain How They Retain Top Talent

    30 Entrepreneurs Explain How They Retain Top Talent

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Share How the Workplace Has Changed

    30 Entrepreneurs Share How the Workplace Has Changed

    30 Entrepreneurs Share What They Had to Pivot and Shift Within Their Business During the Digital Migration

    30 Entrepreneurs Share What They Had to Pivot and Shift Within Their Business During the Digital Migration

    30 Entrepreneurs Share How They Stop Burnout from Happening

    30 Entrepreneurs Share How They Stop Burnout from Happening

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

  • Marketing
    30 Entrepreneurs Explain How They Use Their Blog for Business

    23 Entrepreneurs Explain How They Use Their Blog for Business

    25 Entrepreneurs Share Their Thoughts on SEO and Its Future

    25 Entrepreneurs Share Their Thoughts on SEO and Its Future

    11 Entrepreneurs Explain How They Use Their Podcast for Business

    11 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    29 Entrepreneurs Explain How They Use Their Podcast for Business

    29 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

  • Blog
  • MORE
    • START
    • FAQ
    • NEWSLETTER
    • HACKS
    • ABOUT
    • SITES
    • GUEST POSTS
    • WEBSITE SUPPORT SERVICES
  • Community
    • FREE CBNation Buzz Newsletter
    • Premium CEO Hack Buzz Newsletter
No Result
View All Result
Rescue a CEO
  • Advice
    20 Entrepreneurs Reveal The Best Way to Learn Leadership

    20 Entrepreneurs Reveal The Best Way to Learn Leadership

    18 Entrepreneurs Share Some of The Best Leadership CEO Hacks and Resources

    18 Entrepreneurs Share Some of The Best Leadership CEO Hacks and Resources

    8 Entrepreneurs and Business Owners Explain How Coaching Has Affected Their Leadership Style

    8 Entrepreneurs and Business Owners Explain How Coaching Has Affected Their Leadership Style

    16 Entrepreneurs Reveal How They Market Their Business During the Slower Months

    16 Entrepreneurs Reveal How They Market Their Business During the Slower Months

    21 Entrepreneurs Share Advice on Building a Team

    30 Entrepreneurs Share Advice on Building a Team

    7 Entrepreneurs Share How They Approach Tax Planning

    7 Entrepreneurs Share How They Approach Tax Planning

    8 Entrepreneurs Share Advice on Securing Venture Capital

    8 Entrepreneurs Share Advice on Securing Venture Capital

    30 Entrepreneurs Share How they Find, Recruit and Attract Talent

    30 Entrepreneurs Share How they Find, Recruit and Attract Talent

    30 Entrepreneurs Share Their Best Delegation Tips

    30 Entrepreneurs Share Their Best Delegation Tips

  • Productivity
    16 Entrepreneurs Share How They Focus

    16 Entrepreneurs Share How They Focus

    30 Entrepreneurs Explain the Best Ways to Get Out of One’s Comfort Zone

    30 Entrepreneurs Explain the Best Ways to Get Out of One’s Comfort Zone

    30 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

    30 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

    30 Entrepreneurs Share Their Thoughts on The Future Impact of Coworking

    30 Entrepreneurs Share Their Thoughts on The Future Impact of Coworking

    29 Entrepreneurs Explain Why They Have OR Don’t Have A Virtual Assistant

    29 Entrepreneurs Explain Why They Have OR Don’t Have A Virtual Assistant

    30 Entrepreneurs Explain How They Maintain Balance as CEOs

    30 Entrepreneurs Explain How They Maintain Balance as CEOs

    25 Entrepreneurs Explain The Best Ways to Get Out of One’s Comfort Zone

    25 Entrepreneurs Explain The Best Ways to Get Out of One’s Comfort Zone

    Teaching an Old Dog New Tricks – How Working From Home is Cultivating a Creativity Revolution

    Becoming Productive: Finding Your Balance

    20 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

    20 Entrepreneurs Explain the Best Ways to Encourage a Team to be Disruptive

  • Answers
    30 Entrepreneurs Explain How They Use Their Blog for Business

    23 Entrepreneurs Explain How They Use Their Blog for Business

    17 Entrepreneurs Explain How They Keep Track of Their Numbers

    17 Entrepreneurs Explain How They Keep Track of Their Numbers

    30 Entrepreneurs Explain How They Retain Top Talent

    30 Entrepreneurs Explain How They Retain Top Talent

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Share How the Workplace Has Changed

    30 Entrepreneurs Share How the Workplace Has Changed

    30 Entrepreneurs Share What They Had to Pivot and Shift Within Their Business During the Digital Migration

    30 Entrepreneurs Share What They Had to Pivot and Shift Within Their Business During the Digital Migration

    30 Entrepreneurs Share How They Stop Burnout from Happening

    30 Entrepreneurs Share How They Stop Burnout from Happening

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

  • Marketing
    30 Entrepreneurs Explain How They Use Their Blog for Business

    23 Entrepreneurs Explain How They Use Their Blog for Business

    25 Entrepreneurs Share Their Thoughts on SEO and Its Future

    25 Entrepreneurs Share Their Thoughts on SEO and Its Future

    11 Entrepreneurs Explain How They Use Their Podcast for Business

    11 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    29 Entrepreneurs Explain How They Use Their Podcast for Business

    29 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Blog for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

    30 Entrepreneurs Explain How They Use Their Podcast for Business

  • Blog
  • MORE
    • START
    • FAQ
    • NEWSLETTER
    • HACKS
    • ABOUT
    • SITES
    • GUEST POSTS
    • WEBSITE SUPPORT SERVICES
  • Community
    • FREE CBNation Buzz Newsletter
    • Premium CEO Hack Buzz Newsletter
No Result
View All Result
Rescue a CEO
No Result
View All Result

How Businesses Can Adjust Their Expenses for Coronavirus

in Advice
Reading Time: 2 mins read
How Businesses Can Adjust Their Expenses for Coronavirus

Coronavirus is already straining health systems around the world, and this is an unpredictable time for everyone regardless of their personal circumstances. However, the pandemic has also had a massive impact on the world economy, and workers in a variety of industries are facing an uncertain future.

In this article, we’ll highlight three of the best ways to update your budget in response to COVID-19 cash flow constraints that could be putting pressure on your business. These tips will help you get your money in order no matter where your finances are right now.

RelatedPosts

20 Entrepreneurs Reveal The Best Way to Learn Leadership

18 Entrepreneurs Share Some of The Best Leadership CEO Hacks and Resources

8 Entrepreneurs and Business Owners Explain How Coaching Has Affected Their Leadership Style

Start with Your Income

If you’ve been laid off or lost hours due to coronavirus, your first priority should be changing your budget to match your new income. Keep in mind that you can take advantage of additional unemployment benefits if you’ve recently lost work.

For example, if unemployment will only cover 75% of what you were earning, you’ll need to start spending 25% less in order to balance your budget.

You may want to save an even greater percentage of your income than usual. Increasing your savings rate will give you more money to fall back on in case you’re out of work for an extended period of time.

Reduce Unnecessary Spending

Once you’ve identified your spending target, you can start making more specific adjustments in order to reach that goal. Day to day necessities like food and medicine should always come first—never put your health or safety at risk for the sake of your creditors.

See also  Ways To Grow Your Business Inventory Capacity

It should be easier to cut back on transportation, eating out, shopping, and other common expenses, especially if you’re staying home during the outbreak. Try to stick to your new spending habits rather than immediately readjusting when things go back to normal.

Plan to Pay Off Debt

You should always try to make at least the minimum payment toward all debts in order to maximize your credit score and avoid as much interest as possible. That said, there’s nothing wrong with trying to make other arrangements when you’re dealing with financial hardship.

If you’re struggling financially, contact creditors as soon as possible to work out a payment plan. You may be eligible for relief for credit card balances, mortgages, student loans, and other types of debt. Short-term relief will make your budget last longer if you’ve lost your source of income.

Coronavirus is affecting everyone differently, but anyone can improve their financial situation by taking these three steps. Even if you haven’t been personally affected by coronavirus, this is a good reminder that it’s important to be financially prepared for any situation.

 

Guest post courtesy of Luke Hayward

Tags: adapting to crisisCoronavirus effect
Previous Post

3 Steps to Use Telemarketing to Grow Your Business

Next Post

Preparing Your Business for the Global Recession Today

Related Posts

20 Entrepreneurs Reveal The Best Way to Learn Leadership
Advice

20 Entrepreneurs Reveal The Best Way to Learn Leadership

Leadership is a multifaceted skill that plays a pivotal role in personal and professional success. It's a quality that can...

18 Entrepreneurs Share Some of The Best Leadership CEO Hacks and Resources
Advice

18 Entrepreneurs Share Some of The Best Leadership CEO Hacks and Resources

To be an entrepreneur and business owner, you have to understand leadership and be excellent at it. There are numerous...

8 Entrepreneurs and Business Owners Explain How Coaching Has Affected Their Leadership Style
Advice

8 Entrepreneurs and Business Owners Explain How Coaching Has Affected Their Leadership Style

The evolution of leadership style has been profoundly influenced by the dynamic and enlightening journey of coaching. This process of...

16 Entrepreneurs Reveal How They Market Their Business During the Slower Months
Advice

16 Entrepreneurs Reveal How They Market Their Business During the Slower Months

Slowing sales can be a foreboding sign that a business is failing to retain customers and attract new ones. During...

Next Post
Preparing Your Business for the Global Recession Today

Preparing Your Business for the Global Recession Today

Bullet Journaling Benefits for Your Business

Bullet Journaling Benefits for Your Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join CBNation Buzz

Name(Required)
Email(Required)
This field is for validation purposes and should be left unchanged.

Welcome to CBNation Welcome to CBNation powered by Blue16 Media (Web Design & SEO). We are a B2B brand that is exists to help over 1M business owners succeed. Our philosophy and foundation is based on resources, visibility & connections (Visibility + Resources x Connections = Success). We are focused on being the #1 business resource for CEOs, entrepreneurs and business owners.

We hope you enjoy this site, and please let us know if we can be of any help!

Please note in the sake of transparency our sites do contain affiliate links that pay us a small commission at no extra cost to you. Read our Affiliate Disclaimer.
CBNation Library
CEO Hacks
I AM CEO Volume 3

RSS Our Latest CBNation Content:

  • IAM1871 – Fintech Founder Helps Entrepreneurs Access Competitive Financing Fast
  • 21 Entrepreneurs Share Views on Whether Leaders are Born or Made
  • IAM1870 – Coach Helps Leaders in Making Sustainable Changes in their Thinking, Behaviors and Actions
  • IAM1869 – Law Firm Founding Member Offers High Mission of Service to Clients
  • Monday Motivation: Discipline Yourself – BEST Motivational Video (ft. Eric Thomas)
  • IAM1868 – Author Helps Leaders Achieve Success as Individuals and in Teams

Our Sponsors

Subscribe

Join thousands of subscribers & be the first to get new freebies.

Name(Required)
Email(Required)
This field is for validation purposes and should be left unchanged.

What is CBNation?

We're like a Global Business Chamber but with content...
LOTS OF IT

CBNation includes a library of blogs, podcasts, videos and more helping CEOs, entrepreneurs and business owners level up

CBNation is a community of niche sites for CEOs, entrepreneurs and business owners through blogs, podcasts and video content. Started in much the same way as most small businesses, CBNation captures the essence of entrepreneurship by allowing entrepreneurs and business owners to have a voice.

CBNation curates content and provides news, information, events and even startup business tips for entrepreneurs, startups and business owners to succeed.

+ Mission: Increasing the success rate of CEOs, entrepreneurs and business owners.

+ Vision: The media of choice for CEOs, entrepreneurs and business owners.

+ Philosophy: We love CEOs, entrepreneurs and business owners and everything we do is driven by that. We highlight, capture and support entrepreneurship and start-ups through our niche blog sites.

Visit CBNation

RSS Our Latest Content:

  • IAM1871 – Fintech Founder Helps Entrepreneurs Access Competitive Financing Fast
  • 21 Entrepreneurs Share Views on Whether Leaders are Born or Made
  • IAM1870 – Coach Helps Leaders in Making Sustainable Changes in their Thinking, Behaviors and Actions
  • IAM1869 – Law Firm Founding Member Offers High Mission of Service to Clients
  • Monday Motivation: Discipline Yourself – BEST Motivational Video (ft. Eric Thomas)
  • IAM1868 – Author Helps Leaders Achieve Success as Individuals and in Teams
  • Leader Works on Strategic Fundraising Communications
  • Attorney Runs Digital Agency Focused on the Legal Sector
  • 20 Entrepreneurs Reveal The Best Way to Learn Leadership
  • IAM1867 – Coach Helps Sales Marketers Create Repeatable Patterns of Success

©2023 CBNation | Powered by CEO Blog Nation & Blue16 Media | Terms of Service | Privacy Policy | Affiliate Disclaimer | Website Support Services

No Result
View All Result
  • Advice
  • Productivity
  • Answers
  • Marketing
  • Blog
  • MORE
    • START
    • FAQ
    • NEWSLETTER
    • HACKS
    • ABOUT
    • SITES
    • GUEST POSTS
    • WEBSITE SUPPORT SERVICES
  • Community
    • FREE CBNation Buzz Newsletter
    • Premium CEO Hack Buzz Newsletter
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
SettingsAccept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
 Share This
 Facebook