Tevan Asaturi’s Advice on Managing Money in Tough Times

Money problems can be stressful, especially during hard times. Whether it’s a job loss, unexpected expenses, or an economic crisis, managing finances wisely can make a big difference. Tevan Asaturi, a financial expert, shares simple and effective ways to handle money during difficult periods.

1. Create a Realistic Budget

A budget helps you track your income and spending. Tevan Asaturi suggests listing all sources of income and necessary expenses like rent, food, and utilities.

Cut unnecessary expenses – Avoid luxury items and focus on needs.
Use cash instead of credit – This prevents debt from piling up.
Track spending daily – Small purchases add up quickly.

2. Build an Emergency Fund

An emergency fund acts as a safety net. Even saving a small amount each month can help in unexpected situations.

Start with small goals – Even saving $5 to $10 weekly builds up over time.
Keep it separate – Use a different account to avoid spending it accidentally.
Save any extra income – Bonuses, tax refunds, or gifts can go into this fund.

3. Reduce Debt Smartly

Debt can become a huge burden during tough times. Tevan advises tackling it wisely.

Prioritize high-interest debts – Pay off credit cards with high interest first.
Negotiate with lenders – Many companies offer lower payments if you ask.
Avoid new debt – Only borrow money if it’s absolutely necessary.

4. Cut Down on Daily Expenses

Saving money daily can help stretch your budget.

Cook at home – Eating out costs much more than homemade meals.
Cancel unnecessary subscriptions – Streaming services, gym memberships, and unused apps add to expenses.
Use public transport – Save on gas and parking fees.

5. Find Additional Income Sources

Earning extra money can reduce financial stress.

Freelancing – Use skills like writing, graphic design, or tutoring to earn online.
Sell unused items – Old clothes, gadgets, or furniture can bring in extra cash.
Part-time jobs – Even a few hours of extra work each week can help.

6. Make Smart Shopping Choices

Buying wisely helps save money.

Use discount coupons – Look for deals and sales before shopping.
Buy in bulk – Non-perishable items like rice, pasta, and canned goods cost less in large quantities.
Compare prices – Check different stores or online shops for the best deals.

7. Avoid Financial Scams

Scammers take advantage of people struggling with money.

Steer clear of fraudulent investment opportunities and be wary of offers that seem too good to be true.
Protect personal information – Never share bank details or passwords with strangers.
Research before investing – Only trust well-known financial institutions.

8. Plan for the Future

Preparing for the future prevents money problems later.

Invest wisely – Low-risk investments like bonds or retirement funds can secure your future.
Improve skills – Learning new skills can lead to better job opportunities.
Get insurance – Health, home, or car insurance can prevent unexpected financial burdens.

9. Seek Professional Help If Needed

Financial advisors can guide you through tough times.

Debt counseling services – Professionals can help create a repayment plan.
Government assistance programs – Many offer support for housing, food, and medical care.
Community resources – Local charities often provide free financial guidance.

Final Thoughts

Tevan Asaturi believes that financial stability is possible, even in tough times. By budgeting wisely, reducing debt, and making smart choices, you can manage your money better. Making minor adjustments now can result in a more stable financial future.