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The year 2020 has been a year of continuous uncertainty and upheaval The novel coronavirus and the resulting lock-down have driven the economy into a recession from which people are only slowly beginning to emerge Many are adapting to unexpected challenges such as pay cuts, furloughs, home schooling, and/or remote work These stressors can take a toll on our daily lives and impact finances Some, however, have found that their expenses have decreased during quarantine Even if you are spending less than you did last year, your financial situation may still be keeping you up at night Folks are feeling financially unstable right now and some seeing a lot of fear Here, tips on how to devise a strategy for managing finances during these difficult times are offered It includes the need to assess cash flow, reducing expenses, creating a plan and leveraging resources
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