Beautiful Virgin Islands

Wednesday, Sep 17, 2025

PAID ARTICLE: How to manage your finances during times of emergency

During the coronavirus pandemic we cannot let our guard down in terms of safeguarding our physical, emotional, and financial health.

We have been in a pandemic emergency for several months and it’s time to review the family financial plan that we have put in place to see what has worked and what must improve. Finanzas en Tus Manos, Popular’s financial education programme, shares some best practices on managing money during times of emergency.

Review your insurance


Read the conditions on your insurance policies’ contracts, paying attention to the coverage provided by your health plan. If you have questions, call your insurance provider or agent to review the details of your coverage and the items, deductibles and copays that come out of your pocket.

Rationalise your purchases


Buying products can create a sense of security to counter feelings of uncertainty. However, that apparent sense of security can lead us to buy compulsively or fueled by panic, a strategy that we must avoid.

It is important to review your existing supplies so that you buy the essentials. Make sure you have supplies for an adequate period, according to your income.

Check your budget


How has the balance between your income and expenses been during the pandemic? Were you able to cover your expenses? This is a good time to categorise your expenses, dividing them between “necessary” and “optional”, and make adjustments in your budget.

Only essential expenses should fall in the “necessary” category. What about those that you deemed as “optional”? Exclude them from next month’s budget. So now, what would the balance between income and expenses be like next month?

There is no such thing as “small” savings


Be mindful of your savings. Those coins we put in a piggy bank become important when they add up and help you buy medication or food. For people who live paycheck to paycheck, with just enough to cover their expenses, there is an opportunity to learn to save, starting with getting the most out of every penny when making a purchase. It’s time to set a savings goal. There is no such thing as “small” savings; the important thing is to create discipline and maintain a pattern of saving some of your money.

There are some people who rely on their long-term savings and do not have an emergency fund. Be careful when considering withdrawing some of the money you’ve accumulated in your retirement fund. Think about all the years it’s taken you to save for retirement, especially if your retirement is just around the corner. Analyze how long it will take for you to recover the money you withdrew ahead of time, as this could result in you having to postpone your estimated retirement date.

It is possible that you may have had contingency savings, but maybe you were forced to use them during this pandemic. It is important that you establish a plan to replenish your emergency fund in the near future. This way you avoid dipping into your long-term savings later on.

During this pandemic, every household member can contribute to the family savings plan in various ways. Take this opportunity to educate the younger family members about money management and the importance of saving. For more information, go to www.popular.com/en/finanzas-en-tus-manos/.

This article is informative in nature and does not constitute an endorsement or guarantee of its accuracy. Popular nor any of its affiliates, subsidiaries, or related companies, are and will not be liable for any special, direct or indirect, incidental or consequential damages, including, but not limited to, loss of earnings arising from or related to communications, articles, or advice provided by the Finanzas en Tus Manos programme or that may ensue from the information contained in this article, which was not prepared by Popular. Popular is dedicated to providing banking services, so it is not engaged (directly or indirectly) in any type of business-related to what is illustrated in this article. If you require any type of these services, you should seek the advice of a competent professional of your preference. Popular is not responsible in any way for the result of any related initiative if you decide to voluntarily communicate with the Finanzas en Tus Manos programme.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
Kash Patel erupts at ‘buffoon’ Sen. Adam Schiff over Russiagate: ‘You are the biggest fraud’
Homeland Security says Emmy speech ‘fanning the flames of hatred’ after Einbinder’s ‘F— ICE’ remark
Charlie Kirk’s Alleged Assassin Tyler Robinson Faces Death Penalty as Charges Formally Announced
Actor, director, environmentalist Robert Redford dies at 89
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
JD Vance Says There Is “No Unity” with Those Who Celebrate Charlie Kirk’s Killing, and he is right!
Trump sues the 'New York Times' for an astronomical sum of 15 billion dollars
Florida Hospital Welcomes Its Largest-Ever Baby: Annan, Nearly Fourteen Pounds at Birth
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
×