Post-Pandemic Money Moves

Restaurants are opening again and life is starting to get back to normal! Here are some forward-thinking money moves to make as you adjust to post-pandemic life.

Review and adjust your budget

Pandemic budget rules were unique, as people cut down on costs, like dining out and updating work wardrobes, but spent more on things like at-home entertainment. Others may have had to adjust their spending to help them coast during a stint of unemployment. The pandemic may have also shifted something in people’s mental list of needs and wants, as they found they can live with a lot less than they’d thought.

As you adjust to post-pandemic life, take some time to review and tweak your monthly budget. Be sure to incorporate any changes in income, as well as a readjustment to pre-pandemic spending or changed priorities.

Rebuild your savings

If you are one of the many Americans who were forced to dip into savings, or even to fully drain them, during the pandemic, create a plan to get your savings back on track. Tighten your spending in one area until you’ve built up an emergency fund that can keep you going for 3-6 months without an income, or use a windfall, such as a work bonus or tax refund, to get the bulk of your emergency fund in place.

Once your emergency fund is up and running again, continue to practice basic saving habits, such as setting aside 20% of your monthly income for savings, or whichever approach you prefer.

Rethink your long-term and short-term financial goals

The pandemic has prompted lots of people to reevaluate their goals. Take some time to rethink your long-term and short-term financial goals, then adjust your savings and budget accordingly.

As you move through this step, be sure to consider any long-term goals you may have put on hold during the pandemic. Have you stalled your contributions to your retirement accounts? Have you been making only the minimum payments on your credit cards? If any of these apply to you, be sure to revert your savings and debt payments back to pre-pandemic levels as soon as you can.

Spend with caution

It’s perfectly fine to enjoy a shopping spree in celebration of a return to pre-pandemic norms but spend with caution.

You may be eager to make up for lost time, but no number of nights out on the town will bring back the months you spent at home. To avoid irrational overspending, set up a budget before you hit the shops or invest in a credit card that offers low rates and valuable benefits. Check out our Special Visa Balance Transfer Offer with a rate of 1.99% APR* for up to 12 months. Available for a limited time, the offer gives you an unbeatable combination of low rates along with these valuable benefits:

• No annual fee
• Interest-free grace period on purchases when the balance is paid in full by the due date
• Extended Warranty Protection on purchases
• Acceptance at millions of merchants worldwide
• Automatic payments from a We Florida Financial savings or checking account

For more details, visit: https://www.wefloridafinancial.com/visa-balance-transfer

*APR=Annual Percentage Rate.
**Existing Cards: Offer valid for Visa Platinum only (not Secured or Credit Rebuilders) for Accounts open prior to 1/15/2021 for balance transfers initiated between 1/15/2021 and 12/31/2021. 1.99% APR is valid for 12 billing cycles from the date of the transaction with a 1.00% fee on the transaction amount (minimum $10.00). After 12 billing cycles, the balance of the transaction reverts to the standard variable APR 8.90% to 18.90% based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Multiple transfers will be treated individually and expire individually. There will be a message on the statement one month prior to the rate expiration - Please be advised your 1.99% rate will end XX/XX/XX. New Cards: Offer valid for Visa Platinum only (not Secured or Credit Rebuilders) for Accounts open between 1/15/2021 and 12/31/2021. 1.99% APR is valid on all purchases, cash advances, and balance transfers for 12 billing cycles from the account opening date. A 1.00% fee will be charged on cash advances and balance transfers (minimum $10.00). After the promotional period, the entire balance on the card converts to the standard variable APR 8.90% to 18.90% based on your creditworthiness. This APR will vary with the market based on the Prime Rate. There will be a message on the statement one month prior to the rate expiration - Please be advised your 1.99% rate will end XX/XX/XX.

We Florida Financial membership is required. Membership is open to individuals who live or work in select counties from Key West to Jacksonville. Members must maintain a savings account with a minimum balance of $5 for the duration of their membership.