Saving money, setting a budget, controlling expenditures, and knowing the tools banks use with us, are some of the lessons we learned from the Corona pandemic. How is that?
Before the Corona pandemic, most of the residents followed their daily routine of going to work, sharing times with family and friends, shopping for credit cards, and other activities, but the virus changed everyone’s life and paralyzed the economy, says a report by the Phenanthas Personals website. Here are the four financial lessons for this pandemic.
1- Be farsighted
Many people were surprised by the quarantine without having any good savings, and Fabio Chavaro, director of Khuriscope Group, says that nowadays we must always save or invest because “this extra money can save us at any time.”
For example, you can save on transportation, dining abroad or whatever you spend on entertainment, travel, clothes and unnecessary goods, and create an emergency account.
If you already have savings and your income is not affected, then it is time to think about investing and find the right financial options to run your money to keep increasing your income.
And we always thought about big expenses only like rent or mortgage, public services, transportation, and loan installments, neglecting other expenses.
The majority of people have now disposed of side expenses such as eating lunch in restaurants, snacks and coffee during business hours, which undoubtedly affects their budget and sometimes leads to the end of the salary before the month ends, but in these circumstances, the budget has become a good solution to know where our money goes Exactly, how much money do we spend per month, and what can we be austere.
2- Knowing the banking services
Quarantine left us no choice but to use technology to conduct various financial transactions, whether online payments or transfers and requests that we were making in person in advance.
3- Enhancing the technological infrastructure
This period is a challenge, because in addition to the options that were already available to us to facilitate the lives of customers, we had to strengthen the technological infrastructure and explain how to use these electronic means.
4- Control of expenses
Our priorities have changed from before the pandemic, as we never imagined a day when we wouldn't be able to go out on the weekend or buy clothes we liked in a store.
Instead, we became concerned with the welfare of the family and were considering how to cover all basic needs without spending much money. And at this moment, we must stop thinking about luxuries.
The director of "Khuriscope Group" stresses the need to learn lessons and take advantage of opportunities to organize our future in the best possible way "and the most important thing is to continue to work hard and take proactive measures."