GETTING BACK TO NORMAL…
By Demetrica “Meechie” Jefferis
It appears that the world is returning to business as usual after the undeniably hard-hitting effects of the pandemic. With the breakthrough of a vaccination, millions are receiving vaccinations daily. States lifting restriction bans in restaurants, the “one way” arrows have been removed from grocery store aisles. Traveling restrictions have been lifted in most countries, and daily commuting has increased…I must say the increase in traffic is NOT a welcomed level of normalcy!
And even though most of the world has eased back into the normal flow of daily living, the Coronavirus still has a strong global presence. From traveling to employment, many people are mentally preparing themselves to be in large crowds again. Many are adjusting to returning to their place of employment, after teleworking and involuntarily homeschooling from the comforts of home for more than a year.
As we shift back to normal living, there is also a financial shift. Especially in the Stock market. In the midst of a global lockdown, the Dow industrial average dropped 10%, which was the biggest drop in 33 years. And with the significant drops in the market, those who were not financially prepared are still feeling the financial pressure and in a state of rebuilding.
As people are working to build their financial foundation, the below list shares the most important things to do with your money even in the face of hope and the Coronavirus:
- According to CNBC’s article “The Most Important Things To Do With Your Money During The Coronavirus Outbreak”, by Alicia Adamcyzk, DO NOT MOVE YOUR INVESTMENTS. Christine Benz also stated, “You must be willing to tolerate some uncertainty and risk…if you want to outearn the inflation rate.”
- Reassess your goals. Life happens and goals change. Whether you plan to purchase a home, or need to make adjust your retirement plan, now is a good time to assess where you are and strategies to achieve your goals.
- INCREASE EMERGENCY FUNDS! This should be your TOP priority to build an emergency fund of 3-6 months worth in case of job loss, sickness, etc.
- Support others financially, if you’re able. Continue to patronize reputable businesses, including an extra generous tip for your server.
Additionally, start on a financial protection plan today! It is NEVER too late to start! And now is the time to start again.
For more assistance with your debt and wealth strategies, contact Meechie today for your free financial analysis, and free educational sources. Contact info:
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