Ways to Stay Financially Sufficient During Covid

By: MATTHEW SELMAN

Covid has impacted us all. Some in more ways than others, but one thing we can all agree on is earning and saving money is difficult during these confusing times . Whether you have a job or are not working, saving money is important. While for some it is easy to put money away, it can be nearly impossible for others. This pandemic has brought out the best and the worst of people. When Covid-19 hit the United States, people assumed we would be home for a few weeks, and head back to work and school.  Except that’s not the case at all. A general rule of thumb to stay financially stable is to plan into the future. When people around the world started to stay home and lockdown, nobody was expecting to still be struggling an entire year later.  So when you get that paycheck, or that small loan from a parent, try to save it as long as possible, even if you are employed and don’t think your job will get lost. Times are crazy, anything could happen. Many families have invested in stocks during the pandemic. It is a wise decision to research before investing, but stocks can increase your wealth substantially. Stocks aren’t a direct source of income, but it is a great way to help out your future self. Covid-19 has its downs, but for many companies Covid is benefitting their stock more than ever. For instance, investing into a stock that is helpful during covid, like Johnson&Johnson, they have multiple cleaning supplies and hand sanitizers. With the correct research you will be able to differentiate what stocks are good to invest in now, and stocks that are not advised to invest in.  After a year of the pandemic we still haven’t turned the corner, and people are still having a hard time financially. Putting money away is an extremely effective way to keep money. You can imagine having a $100 dollar bill in your wallet, you’re going to want to spend it, even if it is on smoothies over a 4 week period. If that $100 dollar bill was put away into a bank account, or given to your parent to keep safe, that money will not be in sight and you will be able to save it far easier. The world will recover from this pandemic, and so will your bank account. We are all in this together and helping each other out can help greatly.