As the coronavirus has continued to spread and impact the economy, more employees have been laid off or taken a pay cut. This author and her husband fell into this category, taking a combined total of a 30% pay cut so far. While some of these changes are to be expected by now, it is still important to prepare and budget until things go back to normal. The first step when hit with a pay decrease is to cut unnecessary personal spending, such as entertainment and expensive hobbies. Next, look at how much you are saving each month and see if you will need to use any of that during the pay cuts. Also, consider what you will do if the pay cuts increase or you need to dip into your emergency fund or borrow money.