When the 2020 COVID-19 lockdown measures were enforced in my country, my day to day life was not affected much. My plans, however, were affected. And since some hoped-for activities couldn’t be done due to the imposed restrictions, the lockdown gave me a lot of free time. I had to find creative ways of using this extra time such as cooking, rejuvenating my commitment to this website, getting insights in to interior design, researching on how to improve on time management and reviewing my financial management skills. My friends, this lockdown taught me three important lesson about financial security. This important lesson is the basis of today’s post.

So this is what happened: COVID-19 happened and everybody’s activities were disrupted. Everybody was forced to be home. Extroverts who had been used to weekend parties now had to spend most of their time in their houses. Some of those who used to enjoy being at their offices and traveling now had to stomach the constant environment which was now their homes. Business people who were always up and about were significantly disrupted; they had to spend more time at home and since most people were home, their revenues also dropped. Everyone was forced to be at home and we were all forced to improve where we stayed. This is the first lesson: don’t ignore your home; wherever you call home needs to be good enough for you to work, relax and socialize moderately.

Do you remember how we all panicked when COVID-19 was declared a global pandemic? I felt like the world was coming to an end and went to shop for items that could keep me for close to six months. I bought rice in large quantities, vinegar in large quantities, tomato sauce in large quantities (fresh tomatoes are perishable), toilet papers in large quantities, stocked asthma management drugs…you name it. Every available space was used to store something I may need in case of an apocalypse. But guess what? Buying large quantities of these items didn’t feel expensive. I was surprised that buying items in large quantities was way cheaper than I expected. And that’s lesson number two: buying household items in large quantities and planning a few months ahead of time can save you money. (Those with families know this too well)

The third important lesson is from the financial consequences of this lockdown: people’s incomes were cut short but they still had to manage their day to day living. I know people who had to be on unpaid leave and people who lost their jobs. It was not easy. They had to borrow to maintain their lifestyles or downgrade a few things here and there, which is always painful. And those who were still working had to chip in one way or the other to support their affected friends. With no regular income, many people were financially stranded. And that brings in the third lesson: regardless of your income, create a simple, sustainable lifestyle you can manage on difficult days. And if possible, always save something that can help you survive on rainy days.

This marks the end of today’s post.

Lead your life to reach your goals; live deliberately.

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