How to Corona-Proof Your Finances

How to Corona proof your finances. So, what happened overnight, soon as the whole lockdown and everything kicked off, many people realize their situation. And the fact is, it was precarious, almost like walking on a tightrope. I created this meme, which resonated with a lot of people, because I got a lot of likes, comments and reshares. And I bought COVID-19 has taught us the importance of having more than one way to get paid. So if one source of income dries up, you have over, you have another option. And here you can see multiple streams of income. And there’s something coming in through at least one stream, my little drip there, got nothing from others. So many people. And this seems to be lacking overnight realization. People just will at all haven’t got any money. And I think what it is, is that people need a safety net. So a lot of people, and I was listening to the radio at the time that were phoning up, they have no savings or a little bit of savings, which will be depleted in maybe two, three weeks. Some people had family that they could rely upon, they could ask for help and support. But many people had nothing. They said, I’ve got nothing, which is a little bit worrying. Because if you think you know, you’ve been working hard all these years all your life. If your money was to stop instantly, how long would it would you be able to survive without? You know? Like, how long would you be able to survive? And for many people, it seemed to be well, to the end of the week, and then that’s it. So one realization for me was just it would seem the extent or the amount of people who were living paycheck to paycheck. Now fortunately, in the UK, and in other Western economies, we have a safety net, to catch us should we fall in the in the form of the government and benefits and handouts that they can provide, as with in the UK, the the benefit is called Universal Credit. So it’s this idea that I think what they now do is they wrap up the employment allowance, maybe the Housing Benefit into one sort of payment, and that’s supposed to just cover your living costs and how you manage. But the government did start a campaign in October, called saying that it was time to rethink. And the campaign is rethink rescale reboot. And then there was some spoofs off from that some spin offs. Were here it says Elizabeth next job could be in crime scene photography. She just doesn’t know it yet. We think we skill reboot. And then you’ve got Boris’s. next job could be anywhere else, we’d all be better off. We think remove reboot. So that was a bit of a spin for those. But what the government are trying to do is to get people to think about whatever it is that you’re doing. Now, you may have to rethink that because maybe your industry is collapsed. The jobs are disappearing. Think about re skilling. What What else would you like to do? What other skills could you learn? And then that might be a better way forward, instead of waiting for your industry to come back. Don’t worry about what I think about rescaling because the jobs are changing. And again, as mentioned before, if this virus is like any other pandemic, you look at the Black Death, look at look at any of the previous pop viruses that have killed hundreds of millions or millions, at least, such as the Spanish flu, this, these these things tend to come in waves, they always say the second wave kills more than the first wave. And that the key thing is that you it doesn’t go overnight. It doesn’t disappear overnight is with you for years. So think about how if your job has been paused or stopped or you’ve been made redundant, maybe your job is going to disappear. So for example, if you were air hostess, or part the cabin crew on an airline, a lot of airlines have been grounded. Yeah, there’ll be a few flights here and there, but nowhere near as many as before. Can you rethink what you You might want to do rescale and reboot