Share on LinkedInShare on PinterestShare on InstagramShare on Youtube

I created this page in regards to the recent events with Coronavirus because I wanted it to be really easy for people to access financial knowledge that will help them during this time.  

I will be adding updates to this page as things continue to unfold, so please check back for updates. 

It’s so important to me that people feel financially safe and secure and to offer any sense of financial peace of mind during this time, so I wanted to share some tips with you to help you beef up your emergency fund savings right now.  

I also want to preface this with, you don’t have to manage your finances this way over the long term, but making some of these changes temporarily right now can help you to feel more prepared. We want you to have more flexibility and cash on hand right now. 

No one is sure how long things are going to be like this or how long until life returns back to normal, but having a little more flexibility with your money can help during this time. Then when life returns back to normal, you can go back to achieving your other financial goals and any money you had stockpiled, you can put it towards those goals you were previously working on.

*DISCLAIMER: The ideas, concepts and opinions expressed here are intended as education, self-help, motivation, personal-improvement, and informational tools. As such, this free resource is provided with the understanding that the author and publisher is not not rendering any financial advice and is not intended to be a replacement for a mathematics, finance or business education, such as that received by a university, CPA, CFP, or MBA program. This resource should not be relied upon or used as the sole basis for making decisions regarding business, finances, law, real estate, insurance, or any other specialized area without consulting primary, more accurate, more complete or more timely sources of information.* 

I would be so grateful if you SHARED this page with others to help provide this information to them to help them to succeed financially as well, thank would mean the world to me!!


Sit down and take the time to really go through your finances and figure out where you are at financially. That clarity will actually help you, not make you feel worse. Knowing how much your expenses truly are and what you currently have saved, will let you know how long your money would last you, if things were to get worse. 

This is not the time to bury your head in the sand, this is the time to step up to the plate and take control over your finances by focusing on and taking action on what IS within your control. But if you don’t have financial clarity, it’s hard to know what to take action on and what adjustments to make, for your specific finances.

I have a FREE budget template you can download to start punching your numbers in to help you evaluate your financial situation.

Click HERE to receive it.

Make sure you take into account YOUR specific financial situation as you read these suggestions and figure out what will work best for you based on:  

  • Your job stability (and/or your partners)  
  • If you will still earn an income while at home (if you need to self quarantine)  
  • How much liquid cash you have access to (emergency fund, savings, etc - I’m NOT referring to your investments here). Do you have $1000 in emergency savings? Do you have 1 months worth of expenses? 3 months? More? 
  • Your expenses  
  • Your feelings of financial safety, security & stability, taking into account your mental and emotional health  
  • Your current health  
  • The number of people who depend on you financially  


1) Subscriptions The first thing I suggest is to go through your subscriptions and see which ones you can reduce or cancel. Look at your Apple iTunes account to see which ones come out, look at your credit card and bank statements and cancel the ones you don’t need right now. We are in a time where these little expenses WILL make a difference.

2) Pause Extra Debt Payoff If you’ve been working on paying down consumer debt (such as credit cards, lines of credit, etc), I’m really proud of you, but for right now in this moment, maybe just pump the brakes for a minute while we are figuring out what is all going on right now. Take the money that you would have been putting as extra towards your debt, and put it into your emergency savings. Keep making your minimum payments right now, but just hold onto the extra money you would have put towards it. 

3) Look Into Your Mortgage Interest Rate If you have a mortgage and your interest rate is over 3%, it may be be worth it for you to I speak with your mortgage broker to see if refinancing would be an option for you as interest rates have dropped. This can help to reduce your payments and save you money!

3) Groceries & Eating Out Consider how much you spend approximately on groceries and eating out as this is one of the biggest variable areas that are within our control to tighten up. 

4) Pause Children’s Education Fund Contributions This type of contribution I normally wouldn’t just recommend to pause, but it’s also not a normal time that we are in and there isn’t as much time to build up your emergency savings, so hear me out. Maybe consider pushing pause on what you are contributing to your kid’s education funds for the next little while. You can always start contributing again to it later, but that little extra money for you to have on hand right now, can definitely help. This does NOT make you a bad parent if you decide to pause it at this time, you are doing what you need to do right now and there is no reason to feel shame or guilt about that.

5) Get Creative, Resourceful & Increase Your Income Figuring out what you can do to bring in extra money, now is your time to get really creative. Figure out how you can help other people. See what you can do online from home to increase your income. There are so many ways you can make money in unconventional ways, now is the time to take action and get another income source rolling in. Use the time that you have, to start doing some research and start a side hustle.  



Really dive into your finances right now and have clarity in your TOTAL financial situation and where you currently are at and how long your savings, emergency fund or liquid cash would last you. If you have investments, don’t pull them out [sell them for a loss] (unless you absolutely and I mean absolutely, need to).  

If you pull them out right now when things are down, you will see a really big loss in your investments. If you leave them in there, they will likely come back up when the stock market and economy stabilizes again as the markets do go fluctuate. They do go up and they do go down. Really think about your decisions you are making in the short term, that can seriously affect not just you, but your family for decades to come.  

During times of uncertainty, it is easy for us to allow our emotions to take over, but often this ends up hurting us and many of our loved ones, over the long term. If you pull your money out of your investments right now, that can have a huge impact on your partner and your children or future children, not just financially but mentally and emotionally. Make sure to take a step back before making really big decisions that can have major long lasting consequences.  

If you are feeling really worried about your investments or retirement, maybe don’t be tracking any stocks or the stock market right now, if there’s a chance you will get emotional and pull your money out. My investments have all taken a toll as well, but I am not going to be pulling them out and taking a loss, I am leaving them to weather the storm.  

Here are some graphs to show the historical trends and ups and downs of the stock market over the past 90 years.



The IRS has announced that the tax filing and payment deadline is extended to July 15, 2020 for FEDERAL payments. You still need to check with your STATE for the specifics as this is in regard to your FEDERAL filing date and payment. If you are to receive a refund, get your taxed filed as quickly as possible!

In the US, the Quarter 1 estimated tax payments have also been pushed back to July 15th, 2020.


The CRA has announced that the tax FILING deadline has been extended from April 30, 2020 to June 1, 2020. If you owe money, the deadline to pay is also extended until August 31, 2020. If you are to receive a refund, get your taxed filed as quickly as possible! You can read more here.


The IRS has extended the 2019 IRA contribution deadline to contribute to your IRA to July 15, 2020.


Here is where you can have your employees file for EI and the time frame of waiting for EI to come through is claiming to be reduced according to the Government of Canada website, you can read more about it here.

Business Development Bank is offering support to entrepreneurs who are impacted by COVID-19 and offering small business loans and working capital. You can read more about that here.



During difficult times it is common to see an increase in personal identification fraud and financial fraud. Hackers, online fraud and identity theft are more common than you think and if these things happen to you, they have a huge affect on your financial situation and your credit.


Find out what your credit score approximately is and monitor it on a monthly basis. Depending on your specific financial situation and how you manage your money during this time, it can affect your credit score. That's not why I am sharing to monitor it. I am sharing to monitor it in case you see it drops off and you didn't miss a payment, you didn't take out any new credit or anything that you know would cause it to lower, you can look into it (pull your credit report) to make sure that someone else didn't take out credit in your name. Also - YOU can check your credit score without negatively impacting it. It is only when someone else checks it that it can negatively impact it.

If you are Canadian, I recommend using this free resource to find out your credit score.

If you are American, I recommend using this free resource to find out your credit score.


If you have a simple password for any of your important accounts such as: 

  • Banking, credit cards, investments, etc 
  • CRA, IRS, etc 
  • Social media accounts 

You can be putting yourself at a much greater risk of having something happen to you. So what I recommend to do, is to update and improve your passwords. 

How to make stronger passwords: 

  • Each password to be unique, don’t use the same password for multiple logins 
  • Use numbers and symbols 
  • Upper and lower case letters 
  • Have a longer password  





This is a great time to listen to podcasts right now. I have been very open about my money anxiety and my journey to overcome it and feel financially safe and secure. Here are some great podcast episodes where I have been interviewed in regards to overcoming money anxiety and improving your money midset.

Money, Finances & Our Emotions Around It on the Mindful Impact Podcast - This episode is great for those in relationships or with families.


  • Stop for a minute and just breath. Really. 
  • Use some essential oils to help calm your body down. Personally I like wild orange and bergamot. 
  • Move your body. When we are feeling panic and worries, it gets stuck in our body. Do something to help move that energy through you, go for a walk, do a homework (Youtube has so many awesome home workouts) or do some yoga (Yoga with Adrienne on Youtube is fantastic). 
  • Journal on what you are feeling. When you keep your worries and fears inside of you, your mind doesn’t want to forget it so it can put it on replay over and over again, causing you to feel anxious. Journal out what you are feeling right now to get it off repeat. 
  • Take some quiet time and read a book. 
  • Take a bath, light a candle and put on some calming and grounding music. 
  • Anything that helps to calm your nervous system right now will be beneficial for you. 
  • Take action on what IS within your control to do, to prepare and support your financial well being.  

I hope you've found these resources helpful. If you want some more in-depth assistance with your finances, I also want to help you to weather this storm and to feel financially safe and secure. You can book in for a free 20-min call with me here to discuss the best option for you.

Mandyy Thomas Online Financial Coach Website: Email: Instagram: @mandyythomas