Patrick Swindale dives deeper into finances while observing social distancing.
Many people are struggling with their finances due to the way the COVID-19 pandemic has affected them. Although people have been laid off and are sitting at home, Patrick Swindale sees this as an opportunity to help many with understanding finance.
According to Patrick Swindale, many people don’t have sufficient money in savings. This has been exacerbated by the pandemic with many losing their jobs due to the social distancing regulations in place.
Patrick Swindale continues to share statistics from the US Treasury and WalletHub regarding the minimal amount of savings that Americans have. Swindale suggests that everyone focuses on obtaining at least $500 in savings to prepare for an emergency. With many now at home, Swindale is also providing more regular advice on his blog.
Although Americans cannot sit down with an accountant or a financial planner at the moment, Patrick Swindale says that the time can be used for people to examine their finances. This starts with identifying all of the expenses that occur on a monthly basis. Swindale suggests that it can be eye-opening for people to print off a few months’ worth of bank statements and use a highlighter on any “non-essential” purchase. Doing this can show people what expenses they need to cut, according to Patrick Swindale.
Patrick Swindale Continues
Additionally, Patrick Swindale recommends that people take the time to build a budget. Those with budgets in place are more likely to pay closer attention to when and where they spend money. Swindale has suggested a variety of resources for people to use for budgeting assistance, including Quicken and Dave Ramsey. Swindale has also provided lists of apps for those in his community to use to make it easier to track expenses on the go.
Swindale has acknowledged that the government is providing financial assistance to those who need it throughout the pandemic. He has warned not to depend on the stimulus check, however, as it can take some people weeks or even months to see the money. Instead, he suggests for people to file for unemployment if they have lost their job and to immediately tighten spending.
Patrick Swindale continues to share tips on how to budget and reduce expenses as people look to busy themselves during times of social distancing.
More About Patrick Swindale
Patrick Swindale has proven his tenacity in all that he has done. He has worked with a number of individuals throughout his community to help with everything from finance to logistics. He was an Eagle Scout and a Boy Scout leader. He will be graduating from Washington State University with a Masters of Science in International Logistics and is studying to become a Licensed Customs Broker.