1a. Budgeting all the way. Spend sparingly. We will come out of this. As we plan towards then, plan your life as though there’s another pandemic around the corner. Live your life with purpose. Plan your finances. Spend less. Review your spendings around acceptable benchmarks. - https://twitter.com/Requidapp/status/1253375973204131842">https://twitter.com/Requidapp...
1b. For example, you should keep your cost of rent lower than 30% of your annual income. If you are in the middle class or you are married, that figure should be even much lower. -
2a. Invest in yourself. Re-skill. Review skills that don’t give you value. Take on skills for the future. The future of work is largely remote and e-"something". -
2b. If you work for someone, like many of us do, be indispensable enough to not lose your job easily, but be dispensable enough to qualify for something better. Grow quick. If you are growing your business, invest in a great team and systems. -
3a. Plan for emergencies. Maintain an emergency fund. “Invest” in insurance. Insure your key assets. Take health and life insurance. Design a life continuity plan. Literally, that sounded funny. But you know what I mean: -
3b. Plan what happens to your assets for “when it’s your time”. Write a will. If you run (or own) a business, design your business continuity plan. -
4. Stay home. Stay safe. There’s no better “financial” advice. We hibernate, plan and re-launch when it& #39;s time. END OF THREAD.