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Coping With Money Problems During the Pandemic

Getting Started

Many people are worried about money during the pandemic. Some people have lost jobs, or they aren't working as much. Or funds may be stretched thin because of health problems or other expenses. Here are some ideas on how to cope with unexpected money problems.

  • Be kind to yourself.

    It's normal to be concerned right now. Allow yourself time to have those feelings. Try not to get upset with yourself when you worry more than usual. But set limits on how much you think about your situation. When unwanted thoughts come up, tell yourself "not now." Use your "worry time" to focus on looking for ways to solve your money problems.

  • Figure out what you can control or change.

    It might help to make a list of the expenses that worry you the most. Then make a list of things you can do to reduce some of those costs. For example, you might have a library nearby where you can borrow movies, music, games, and books instead of paying for those things.

  • Look for support.

    During this time, you may be concerned about how you're going to pay the house payment or rent, or pay for food. Check to see if you are eligible for income supports through the Alberta and Federal Government. Many communities have non-profit services to help with things like debt consolidation. You may also be able to find a community food bank if you need help feeding your family. Check for community programs and services that can help you with transportation, and housing if needed. In Alberta contact 211 or community agencies near you. Some companies will work with you to create a payment plan if you're having trouble keeping up with expenses. You may also find that emotional or spiritual support will help when you're worried.

  • Celebrate your wins.

    Find small ways to celebrate your successes. When you're trying to get through money problems, it can be easy to feel discouraged. When you pay off a bill or find a new way to solve a problem, celebrate that success. Choose something that you enjoy doing and has no cost or is in your budget.

Credits

Adaptation Date: 8/13/2021

Adapted By: Alberta Health Services

Adaptation Reviewed By: Alberta Health Services

Adapted with permission from copyrighted materials from Healthwise, Incorporated (Healthwise). This information does not replace the advice of a doctor. Healthwise disclaims any warranty and is not responsible or liable for your use of this information. Your use of this information means that you agree to the Terms of Use. How this information was developed to help you make better health decisions.