Coronavirus Cash Crisis: How Should I Set My Pandemic Budget?

The video tutorial emphasizes the importance of focusing on essential expenses like housing, food, and medical care while eliminating unnecessary costs. It advises documenting all expenses, including housing, transportation, utilities, insurance, medicine, and debt payments. The tutorial suggests paying the bare minimum on everything to preserve cash, especially if income has decreased. It also recommends reviewing credit card and bank statements from the last three months to identify spending patterns and distinguish between necessities and non-essentials.

What role do debt payments play in a budget?

What strategies can be employed to preserve cash during a reduction in income?