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Coronas impact on economy(esp. normal people) will really hit in September. Why it will probably happen, and how to prepare for it:
Unemployment checks will end soon (and may be taken out of your tax returns in the future)
Businesses will be less likely to hire, so less money trickles down to the people
Prices *may go higher as businesses try to recover costs (plus printing more money for the stimmy checks may add to inflation)
Some industries will be stigmatized (travel, tourism, theaters etc.)
Don’t panic, PREPARE.
1. Cancel unnecessary subscriptions (it’s July, you don’t need Chegg).
2. Save money. No need to flex for the gram and be broke in a few months.
Now is the time to get that second income (mowing lawns, baking, literally anything).
Spending money in small businesses keeps money being circulated in the community, instead of it disappearing in a corporations bank account in the Cayman Islands.
Where there is crisis there is opportunity
If you think you may not survive, talk to the bank and figure out payment plans NOW. Not when everyone is trying to fix everything.
Sell random stuff you don’t use, the bigger the cushion, the softer the fall.
Better safe than sorry.
Better safe than sorry.
But idk tho (just in case the world economy really recovers from a global pandemic and months of lockdown without more impact on the economy).
