One thing that this whole experience has made me realize is all the things that we take for granted. A lot of us don’t take the time to appreciate our lives, our loved ones, our jobs, our health care and the other little things that bring us joy every day. Being in quarantine has given me a chance to reflect on the things that I miss now and the things that I think I’m going to continue to miss in the coming months.
- My wife and kids – Counting down the days until we are together again
- My family and friends – We all live hectic lives, but being in here makes you appreciate that you can normally just go hang out with your tribe
- Basketball (and sports in general) – Not only is there not any basketball on TV right now, I suspect the upcoming rec league I play in will be cancelled as well. No telling when I will get to play again.
- Driving a car- This sounds simple, but I drive a lot for work and I miss just being in the car and listening to the radio/music
- Human Interaction at work – I’m still accomplishing a lot remotely, but some things are just easier when you can review in person
- Home Improvement Projects – I’ve got tons of things I want to do around the house, itching to get started again
- Stability – It might all be in my head but things just feel so unstable in the world now
How to get through it
As this blog will eventually be much more focused on your financial journey, I think this is a good time to look at how we should be handling an event like this with our finances. We are all going be affected in some way financially over the coming weeks or months, but here is my plan to weather this storm.
First, focus on the necessities. You have to prioritize food, water, housing, and electricity over anything else. By ensuring these four things, you are making sure you are investing in the most important thing that you have; you and your family’s health and safety.
Secondly, minimize any frivolous spending. Now is not the time to go out and spend money on things that really don’t matter to your day to day survival. (I’m looking at you Air Pods! I’ll do another post on the cost/value of Air Pods at some point.) I’m not advocating not spending any money at all, just be mindful on what you are spending your money on in the coming days. Netflix and takeout may be key to keeping our sanity in the coming months.
Thirdly, I would start to save money. If you are currently paying off debt by using a proven financial strategy (Dave Ramsey’s debt snow ball is a good one), I would stop making those extra payments at this time. Instead take every single dime that was being allocated to extra debt payments and place it into a savings account. We don’t know how this is going to affect our personal finances over the coming weeks, but having extra cash stashed away will make any unforeseen issues much easier to deal with. If this thing blows over in a few weeks, feel free to sock that extra money right back into your debt snowball.
Finally, if you are investing in the market, pick a simple investment strategy and just stick with it. That could mean simply not changing what you are doing, continuing to buy on the way down, and on the way back up. That could mean parking your investment money until the market recovers. The one thing that will surely add to your stress level in the coming weeks is trying to “time” the market recovery.
- Get 8 Hours of Sleep- Check, Up bright an early for work today.
- Eat Healthy- Neutral?, Fried Some Bacon! for breakfast, sandwich for lunch, cereal and fruit for dinner
- Exercise Everyday – Check, Day 6 of 6. What else am I going to do?
- Still be productive- Check
- Virtually date my wife (and talk to the kids)- Check. Some quality Face Time with the wife!
- Launch the blog –Complete, day 6 of 6 posting!
- Read more – Check
- Minimize TV/Internet/Video Games –Check, trying to find comedies to watch to keep my mood up
- Relax- Becoming routine?
Is the current world making you nervous about your money? What are your plans to weather the financial storm? Drop me a note in the comments!