Covid-19 was announced to the world just before Chinese New Year. At that time, no many people would care much about it as it was happening in Wuhan, China. But as it spread to other countries, many starts to take notice but there are still many that are ignorant about the severity of Covid-19, even up to today.
Below are some lessons that I have learned from this Covid-19 pandemic:
We need to prepare in advance
It never hurts to get ready when everything is still normal. Stocking up non-perishable items even just a little bit won't hurt much. It may take up some space but the relief it brings in a time of disaster is totally worth it.
Emergency Fund
Why stocking up non-perishable items is good, we must also prepare the same financially. This is where an emergency fund comes in. This is especially true for those with irregular incomes. The fund will help to mitigate the time you are not able to generate income. You can read more about Emergency Fund here
Investing precautions
Only invest with Ringgit that you do not need in the coming 5 years. Given how low the shares market has tumble down and with no end in sight, many people would be experiencing financial Armageddon. This is just paper loss until you really sold off the shares. That's when you are experiencing real loss. But if you are investing with Ringgit that you don't need now, you can wait and ride through the storm and be much tougher.
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