There’s a virus on the rampage, multiple governments have gone to lock, do people are scared the markets are volatile? It’s the apocalypse you’re probably wondering how do I live during these times?
In this article I’ll be showing you how to survive during these times and perhaps even thrive both now and in the future after all this channel is by living the Hansen life which includes living during bad times.
Money
Let’s get started, the immediate thing you should get straight is your finances, this is one of the most important things to have because money is literally power, just ask Bruce Wayne about it.
With the money, you’ll be able to purchase items necessary to survive.
The first thing to do is reduce your spending as much as you can
basically spend on items and services that are mandatory like food for nutrition, medicine for health, toilet paper to clean yourself
Cut out the unnecessary stuff like unused streaming subscriptions Starbucks coffee etc.
I have always said to be frugal regardless of any political or economical situations because frugality always guarantees having a decent amount of wealth
you should also try to pay off any bills or debt you have so you won’t have any credit defects marked against you, this is especially important if the debt has a high interest rate
After spending on necessities, you will have leftover money that leftover money is for your emergency fund.
This emergency fund is for emergency situations that require mandatory payment, so think of it as like insurance
if you’ll need immediate access soon you’ll want to put your money in a high-interest savings account there are multiple banks like First Foundation Bank , CFG Bank, Citi, MutualOne Bank.
if you do not need immediate access you should put your money in a CD account what are the interest is higher and at a fixed rate.
Try to load up enough money and these type of assets to where you can live off of them for six to twelve months if needed.
While you’re saving up you should have extra money
Now you should not be utilizing your emergency fund for investing, instead use the extra money after the six twelve months of your emergency fund have been achieved during recessions and depressions the stock prices are down and will continue to do.
So, it will be scary to invest but trust me it will bomb out and the prices will go back up again
This means buy low now then sell later for a high price and profit, or you could buy different stocks on sale and get that nice past income
Know that no one will know when the market will go up or down, so just dollar cost average in also avoid risky and shady acids that can go under during depression.
Depressions are generally when the weak businesses go bankrupt, so you’ll lose that money forever if you invest in them, go for more safer assets instead.
If you do not have a brokerage account, sign up for one, there are many out there like Robin Hood Schwab fidelity and more.
I recommend Robin Hood as I use as my personal brokerage because they offer Commission free trading and fractional shares not many individual stocks and ETFs they also offer options trading and cryptocurrencies.
While you’re waiting to trade, you can let your cash sit in the account and they will generate interest for you using the cash management system.
With all these tips in mind, you’ll need to try to keep your job, keeping a good relationship with your co-workers, and boss.
While improving your skills is important majority of your money comes from your job, you should also look in starting side hustles.
This can be flipping items for profit uber driving starting a YouTube channel or an Instagram page etc.
The more money you can bring in the better stability is key
Health
Another important thing to focus on is your health, being unhealthy is detrimental to your wallet and life during a pandemic or depression special emphasis on pandemic.
The first step to protect your health is a clean diet finding good food can be expensive but then again so is being unhealthy, so buy some fresh produce and then store them in the refrigerator or freezer to defer them from perishing.
That way when there’s a scarcity, you’ll have something with other types of food like packaged ones.
Avoid ones with dangerous ingredients like aspartame sucralose parabens etc.
Make sure you have fresh clean water preferably well water.
The next step is to practice good hygiene that means wash your hands with soap, cleaning your living habitat and keeping your distance from people during flu season this is especially important during a pandemic.
Finally, you should try to stay fit, a fit body will allow you to interact with your environment better then an unfit person especially when strong physicality is required
The thing is to not go overboard because you’ll need some fat when you cannot consume much food because fat is storage it may be ugly buds back up once the crisis is over you can burn off.
finally after say up all that stuff, it’s time to protect yourself with some security during these times, some people may go a little crazy which means they may harm you and even kill you, so you must protect yourself even if you won’t get harmed.
It’s better to have some insurance, the first order of security measure is to keep your valuables safe and hidden and revealed less about yourself and your wealth.
Most people won’t care that is until a point when something goes wrong in their life and they start to become jealous, usually they’ll just become verbally abusive or Delta sin themselves from you, but if the situation is dire it may be more especially with mental illness on the rise hence, why you should keep your distance from some people during bad times.
You’ll also want to worry about people stealing your stuff during a depression or pandemic, things have become scarce so people may take desperate measures and thus you’ll want to keep things hidden special emphasis on rare and expensive items.
You should also learn to protect yourself, this can be martial arts weapons mental manipulations and more some of this is controversial and extreme but if you look at the news and compare it to the news from many years ago, we’re not living in normal times anymore, either you protect yourself by preparing or you die.
It’s that simple, these are my tips and tricks on how to survive your recession depression and pandemic, basically focus on finance health and security and you’ll mostly be all set and perhaps even thrive so do you prepare for bad times like these?
