In a crisis like the the Covid 19 (Corona Virus) pandemic is turning the world upside down. Many ill, a number of people dead, ensuing economic fallout, all over the world stock markets have crashed and are still crashing, schools are being forced to close nationwide, small businesses are shuttering, and countless are losing their paychecks, at least temporarily.
There is alot of misinformation and panic world wide but we got a few tips from the World Health Organisation for you
Concerning Your Finances!!
Your emergency fund is your first line of defence against debt and any further financial ruin.
An Emergency Fund is easily accessible money that can cover a minimum of 3 but up to 1 year of expenses.
If you don't yet have an emergency fund, now is the time to prioritise it.
Not to sound pessimistic but, we don't know how much worse the effect on the financial sector will get, so we need to prepare now.
Finance Tip
Now would be good time to sort out your emergency fund, once that is done look for long term investments.
A lot of investment items are selling at up 50% lower than what they were in recent months.
It’s basically a prolonged Black Friday sale on investment options
In light of this all, please prioritise you and your loved ones health and safety; limit contact for now
Practise social distancing
Practise good hygiene, wash your hands, disinfect your surroundings
Many financial experts say anyone worried about their money should work toward saving a year's worth of bare minimum expenses in an emergency fund .
We can get through this if we all work together.
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