HOODS TAX
  • Home
  • The Hoods Family
  • Services
    • Tax Preparation
    • Bookkeeping / Payroll
    • Quickbooks Services
  • 2021 Tax Prep Checklist
  • Contact
  • Blog
  • Login
  • Home
  • The Hoods Family
  • Services
    • Tax Preparation
    • Bookkeeping / Payroll
    • Quickbooks Services
  • 2021 Tax Prep Checklist
  • Contact
  • Blog
  • Login

​Hoods Tax &
Accounting Blog


​​​THE INFORMATION IN THIS BLOG IS INTENDED TO PROVIDE GENERALIZED INFORMATION DESIGNED FOR A BROAD SEGMENT OF THE PUBLIC; IT IS NOT PERSONALIZED TAX, INVESTMENT, LEGAL OR OTHER BUSINESS AND PROFESSIONAL ADVICE. YOU SHOULD ALWAYS SEEK THE ASSISTANCE OF A PROFESSIONAL WHO KNOWS YOUR PARTICULAR SITUATION FOR ADVICE ON YOUR TAXES, YOUR INVESTMENTS, THE LAW OR ANY OTHER BUSINESS AND PROFESSIONAL MATTERS THAT AFFECT YOU AND/OR YOUR BUSINESS. ​

What The Pandemic Taught Us About Finances

6/15/2021

0 Comments

 
Picture
​Hi there readers and welcome back to Hoods Tax’ blog! We’re so grateful to have you here, and we’re excited to share with you some helpful information to make your wallet (and savings account) happier. Now that the world is opening back up and life is seemingly more normal now than the previous year, it’s a good time to reflect on the lessons the pandemic taught us in ways to be frugal and thoughtful with our finances.

It’s about to be the heat of the summertime! Weather is warming up, water parks and beaches are preparing for the oncoming waves of tourists and locals seeking refuge from the heat, and more families are spending time together as schools let out and vacation time sets in! It’s our favorite part of the year, but for our budgets it can get pretty tight. It’s easy to spend money when you’re having a good time, so we want to make sure to remind you of a few lessons to hold on to from the pandemic itself that would be wise to carry over into the summertime activities!

Plan For Your Future
During the pandemic, 1 in 5 people started investing and planning with the stock market and savings. With time to spend online and seeking for something to take it up, many saw an opportunity to learn about something that seemed exclusive to specific crowds of the elite business minded: Stocks. Though fluctuations did occur because of both the ‘temporary crowd’ and those who were genuinely educating themselves on the stock market’s methods, more and more people started to stick around. The education and knowledge focused on investing and planning for the future made an impact. 

The pandemic showed up and disrupted all of our lives for over a year and a half, and many experts say that our concept of normalcy has been entirely shifted because of it. The same occurred with the Spanish Flu during 1918; our civilizations concept of normalcy shifted then as people became aware of how easily airborne illnesses could spread, and ways to limit exposure were discussed while a vaccine was created. As a simplified summary of one of the change reactions that occurred during the pandemic, as the public were recommended to quarantine and limit exposure with the ‘outside world’ businesses saw fewer customers. With fewer customers, job security became unstable as businesses started to ‘cinch their belts’ when funding became too tight. This instability opened many people’s eyes to the realization that anything can happen in our lives, and the importance of having a savings or investments account became significant. Saving and investing in your future is incredibly important, and is one of our highest recommendations for your financial success. 

How are you planning for your or your family’s future? Do you have a savings or investments account with your bank? Or are you learning more about stocks to be active in the market? These are things we want you to consider as a well learned and reminded lesson from the pandemic itself!
Explore the Outdoors and Low Cost Activities
Okay, we hear you. People have been saying ‘go outside and enjoy nature’ for years, but there’s a reason for it! Spending weekends or vacations at attractions around town can really add up to make a decent hole in your pocket. Museums, aquariums, movie theaters, shopping malls, vacation trips, waterparks, and other types of business set activities are definitely fun highlights for the summer but if done often you’re going to run out of budget fast. So, why not enjoy what’s at your disposal and within arms reach on a typical day? Local parks, beaches, outdoor performances, bookshops or libraries, and even just a sunny walk through town are great ways to spend a day with a low budget.  You may find something new and exciting to take note of for another day trip, or develop a new hobby to satisfy your free time! 

During the pandemic, many people resorted to outdoor activities or things that operated on a smaller crowd scale to limit exposure. Social distancing took into effect and many chose to reconnect with their own piece of nature at home in their back or front yards, or local resources such as parks or beaches. We want readers like you to keep that connection because it’s not just healthy for your mind and body, but helpful for your wallet! Keep up those behaviors and explore the outdoors and your local activities with your friends and family to give yourself a low cost option when money gets tight.
 
Do you have a favorite outdoor activity or local, low cost activity you’d like to share with our readers? Feel free to comment below and share the information with us!
Meal Prepping
Home cooked meals are always known to be generally healthier than eating out, but we all certainly did a LOT of it during the pandemic. Some prioritized orders through delivery apps like Uber Eats or Grubhub, but that option only lasts for as long as your funds do- and those delivery fees add up quickly! To save yourself some extra cash, keep the practice of meal prepping and preparing your next day’s lunch ahead of time! You’ll find that not only will your health and energy typically improve, but you’ll be more adept at retaining your budget and applying your funds wherever they’re best suited. A great way to start meal prepping is to start small by cooking an additional meal with your dinner the night before. Pack up that extra meal for your lunch the next day and set it ready to go within your fridge! Take that lunchbox with you to work or your daily adventures in the morning and you’ll be less likely to purchase food out and dig into your wallet! 

Some people may prefer to meal prep an entire weeks worth of meals ahead of time, but everyone is different! If you’re looking to cut down on your ordering in or eating out, we highly recommend doing a bit of research into popular meal prep methods to save you the extra cash.

Did one of these ‘pandemic’ financial lessons make an impact with you and your planning for the upcoming week? We really hope they helped!

We know that the pandemic changed many things for our lives and the way we live them, and now that things seem to be levelling out more in public as the vaccines take effect and people become more conscious, we wanted to give you some food for thought about your money spending habits. It doesn’t hurt to look back at how we handled money or were caught by surprise with a lack thereof when things changed, so be prepared and thoughtful with your funds! Either of these three methods are guaranteed to help you rearrange your budget a bit more, and the end result will leave you feeling more confident and responsible! 

What did the pandemic teach you about your finances? Do you have any words for the wise you’d like to share? Feel free to comment below and let us know someway the pandemic shifted your focus on money. We'd love to hear from you!

Until next time readers, we hope you have a wonderful week and you’re being thoughtful of your funds! If you need any assistance with your taxes or accounting, be sure to contact Hoods Tax and Accounting of Goose Creek today, we’re here for you!

0 Comments



Leave a Reply.

    Author

    Write something about yourself. No need to be fancy, just an overview.

    Archives

    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    January 2018
    November 2017
    October 2017
    May 2017

    Categories

    All
    1040
    1040-sr
    2019 Taxes
    2020 Tax Bill
    2020 Taxes
    2020 Tax Extension
    2020 Tax Return
    2020 Tax Season
    2021 Taxes
    2021 Tax Season
    2022 Tax Day
    401(k)
    529
    529 College Account
    529 Saving Plan
    Accountant
    Accounting
    Accounting Goose Creek
    Accounting Principles
    Accounting Services Goose Creek
    Agoraplaus
    April 15 2021
    April 15th
    Asama
    ATM
    Back To School
    Bankruptcy
    Basecamp
    Basics Of Accounting
    Black Shopping Alternatives
    Bookkeeping
    Bookkeeping Basics
    Bookkeeping Goose Creek
    Bookkeeping Goose Creek Sc
    Budgeting
    Buffer
    Building A Business
    Business
    Business Consulting Goose Creek
    CARES Act
    CARES Act 2020
    College Loans
    College Planning
    College Saving
    Common Questions
    Common Tax Mistakes
    Consulting Goose Creek
    Contact Hoods Tax And Accounting Goose Creek Sc
    Contact Hoods Tax Goose Creek Sc
    Coronavirus
    COVID 19
    COVID-19
    Cryptocurrency
    Cutting Costs
    Cutting Costs At Thanksgiving
    Cybersecurity
    Debt
    Deductions
    Digital Currency
    Documenting Your Taxes
    Donations To Your 401(K)
    Economic Impact Payment
    Effects Of A Global Pandemic
    Estate Taxes
    Evernote
    Expense Tracking
    Facebook Creator Studio
    Fake Covid Scams
    Fake Emails
    Fake Phone Calls
    Fake Text Messages
    FASFA
    Filing Taxes
    Financial Aid
    Financial Preparedness
    Financial Recovery
    First Time Tax Payer
    Getting Ready For Tax Season
    Gift Taxes
    GoDaddy
    Google
    Goose Creek
    Grants
    Hidden Tax Write Off
    Hidden Tax Write-off
    Home Owner
    Home Ownership
    Hoods Tax & Accounting
    Hoods Tax And Accounting Service
    HootSuite
    How To Claim Unpaid Stimulus Money On Your 2020 Tax Return
    How To Save Money At Thanksgiving
    How To Spend Your Tax Return
    How To Stay Safe At Thanksgiving 2020
    How To Stay Safe This Thanksgiving
    Hurricane
    Hurricane Fund
    Hurricane Plan
    Important Dates
    Important Documents
    Impulse Spending
    Income
    IRS
    Itemized Tax Deduction
    Jumpstart Your Day
    Last Minute Tax Deductions
    Last Will And Testament
    Lowcountry
    Lowering Your Tax Bill
    MailChimp
    Make Donations To Your HSA Account
    May 17th Tax Extension
    Medical Expenses
    National Podcast Day
    Online Scams
    Organization
    Owning A Business
    Pandemic
    Paying Your Tax Bill
    Payroll Services Goose Creek Sc
    Pension
    Phishing Scams
    Phishing Schemes
    Phone Call Scams
    Podcast
    Preparing For 2020 Taxes
    Preparing For Your 2020 Taxes
    Preparing For Your Taxes
    Productivity
    Productivity Tools
    Protecting Yourself From Stimulus Fraud
    Protecting Yourself From Tax Fraud
    Quickbooks
    Quickbooks Services Goose Creek Sc
    Quickbooks Small Business
    Quickbooks Training Goose Creek
    Quickbooks Training Goose Creek Sc
    Recovery Rebate Credit
    ResueTime
    Retirment Taxes
    Save Money
    Saving For College
    Saving Money
    Saving Money For Thanksgiving 2020
    Savings
    SC
    Scam Emails
    Scams
    Scam Text Messages
    Scholarships
    School Shopping
    Security
    Senior Taxes
    Senior Tax Filer
    Senior Tax Payer
    Small Business
    Small Businesses
    Social Security
    Social Security Administration
    Social Security Scam
    Spending Your Tax Return
    Squarespace
    SSI Benefits
    Standard Tax Deduction
    Stimulus Check
    Stimulus Payments
    Stiumuls Scams
    Strained Finances
    Student Loans
    Summer
    Tax Brackets
    Tax Credit
    Tax Day
    Tax Deductible
    Taxes
    Tax Extension
    Tax Fraud
    Tax Implications
    Tax Info
    Taxpayer
    Tax Payer
    Tax Paying Citizens
    Tax Planning
    Tax Preparation
    Tax Preparation Goose Cree
    Tax Preparation Goose Creek
    Tax Professional
    Tax Refund
    Tax Return
    Tax Season
    Tax Season 2020
    Taxtaxes
    Tax Tips
    Tax Write Off
    Thanksgiving
    Thanksgiving 2020
    The Dangers Of Stiumuls Scams
    Third-party Reporting
    Tips
    Tips For Financial Recovery
    Tips For Saving Money
    Todist
    Toggl
    Trello
    Tsheets
    Unable To Pay Tax Bill
    Unable To Pay Your Taxes
    Unemployment
    Unemployment Tips
    Unknown Tax Facts
    What Not To Spend Your Tax Return On
    What To Spend Your Tax Return On
    Will
    Will And Testament
    WordPress
    Working From Home
    Wunderlist

    RSS Feed

Hoods Tax & Accounting Service, LLC.
​105 Etling Ave, Goose Creek, SC 29445

Phone: 
(843) 797-5153
Email: admin@hoodstax.com
Site created by Creative Consulting
Site powered by
MadeSimply
quickbooks desktop certified proadvisor logo
online quickbooks certified proadvisor logo
Hoods Tax and Accounting service logo
Hoods Tax & Accounting Service, LLC.