Aside from the obvious physical health factors that come with living in lockdown, the COVID-19 pandemic has also had an adverse effect on many people’s financial situations, with some unable to work and some losing their jobs altogether.
Learning to keep on top of financial issues and stress will overall give you more confidence coming out of lockdown, and if you’ve got some more time on your hands being stuck inside, then now could be the perfect time to run a tighter ship with regards to money. If you want to cope better with the stresses and financial strains imposed by the COVID-19 pandemic, then read on and you might find some inspiration.
Saving and Investing Your Money
One of the main causes of stress in society unfortunately is money, and the current pandemic that we find ourselves in has certainly exasperated the situation with some people. If you find yourself with some extra time when you’re stuck indoors, then now is perhaps a better time than ever to take a look at your income and your outgoings, and see if you can’t trim the fat a little bit to make your money more stable. If you’re the type that travels to work each day or even buys lunch out, then the chances are that you will have noticed some savings purely from being indoors, and looking to cancel some of your unused subscriptions and monthly payments is a good next step from there in building a rainy day fund for when you come out of the other side of the lockdown tunnel.
Investment is a great option for those that want to protect their money, build up a secondary income on the side, and focus on becoming financially free out of lockdown and into the future. Depending on the amount of money that you have saved away and can comfortably afford, there are a ton of different resources out there on asset classes that you can access for free online — from stocks and shares to something greater. If you’re interested in property investment, for example (which can earn you a consistent secondary income if done in a buy to let format), RWinvest have a ton of different guides, podcasts and even videos on different hotspots that continue to thrive in spite of the pandemic.
Cultivating a Productive Environment
Sat at home with some time on your hands, and want to do everything you can to stay as productive as possible? Why not keep yourself occupied by doing something that you love, and trying to make yourself a little bit more money in the process, too? If you’re a talented artist, for example, or can write well in a range of different formats, then you might decide to put your portfolio up on UpWork or Fiverr, and earn while you hone your craft. If you are skilled in a particular area and feel like you can transfer some of the knowledge you’ve gained over the years, you might decide to do some online tutoring on request, or even write some guides/ebooks.
Got something that you want to make and sell to people outside or your immediate circle of friends, or just general clutter that you want to get rid of within the home? Online sales platforms such as Etsy and Shopify will allow you to create your own little corner shop on the internet from the comfort of your own home, and other sites such as eBay, Gumtree and even the Facebook Market place will let you sell things quickly and easily.
Tip — Being restricted in the amount of time we can spend outside means that many people are not getting the right amount of rest and breaks that they should be from screens, and constant whirring thoughts, worries and concerns that can interrupt your sleeping pattern. It’s extremely important that once in a while, you take some much-needed time to yourself in order to rejuvenate, relax and unwind.
Keeping Your Mind and Body In Check
Aside from taking regular breaks, and making sure to separate work from play while getting things done at home, there are some other things that you might want to try in order to keep your brain active. Reading is a great diversion from screens temporarily, and many are also now talking about the importance of meditation. With apps such as Headspace and Insight Timer, this is easier than ever to get involved with, and it can be an excellent way to start the day by clearing your mind and focusing in on the important stuff.
With regard to physical activity, and keeping up to date with your regular workout routine, it might be a little bit more difficult to exercise when you can’t visit your typical gym or go out for your normal walks/runs. However, if you think creatively, this doesn’t mean that you can’t get things done indoors. If you’ve got the money, then you can try ordering in some equipment and converting space into a personal gym area, or at the very least you could even do some small exercises, using online videos and sessions for reference.