Economic covid lesson for Everybody now

target

legendary

Activity: 2282

Merit: 1041

Financial leteracy is not taught well in hgih school nor college. A person who has a degree of banking and finance isn't even well aware of forex and stock market. And this because these stuff are not taught in detail in school.

They just discuss demand and supply and all related to business but not currency trading. You'll only going to learn this if you really are willing to go deep into it and watch youtube channels. The pandemic sure will force individuals to learn new skills just to survive and since the pandemic may still continue up to 2025, its yet not too late to learn another skill.

dunfida

legendary

Activity: 3122

Merit: 1140

This would really be an eye opener for those who dont really save up something for emergency or allocating some savings in times like this.You wouldnt
know on what would happen next or in tomorrow which you would definitely need up some money for you to survive and if you dont save up then youre fucked up.
This is indeed a lesson because you will really be a on a hard situation specially if you dont have savings or money to spent to sustain your living
and if you do fully rely with your work and doesnt have able to save up while you are still earning then you are really making some regrets now.

teosanru

hero member

Activity: 2114

Merit: 619

Quote from: cryptoboss2020 on January 20, 2021, 08:51:17 AM

Even you are not interested about:
(Money, banking, investment, federql reserve, inflation, deflation, trading, Economics, repo, Central banks, financial Rules and regulations.)
The covid 19 shows you exacly that those who was prepared did more well Finacilly then others.

Only way out of financial troubles are to learn financial and money.

Even those who say bitcoin is not for them well If they would learn how to use it right it can help a lot.

Lesson learned for the next crisis be prepared or Cry like a Baby

I think some people misinterpret financial independence. They think Financial independence is all about earning profits on their investments but what most of the people fail to realise is that profits are not the only thing investors should seek there must also be adequate liquidity along with profitablility. In time of such crisis liquidity become really important. Think like this if you have acres of land but can't find a seller for it quickly to meet your needs and end up selling it at discount this will at the end will hamper the profitability too. So investor must maintain atleast around 1 year of their living expenses as liquid investments. This is one of the very important lessons I have learnt from Pandemic.

bassbity

sr. member

Activity: 1092

Merit: 284

Quote from: hugeblack on January 20, 2021, 09:50:37 AM

Poor financial literacy education is one of the deficiencies in many educational curricula and thus the cause of many peoples suffering.
The middle class needs more education about money and investment and not looking for safe investments that may not benefit many of them.
The pandemic clearly demonstrated the necessity of putting in enough money if a problem occurs, avoiding unnecessary spending and increasing the financial education to diversify investment instead of saving.

Quote

There are several studies that have found evidence that individual attitudes toward finances are related to their spending habits, financial practices, and behavior (Hayhoe, Leach, & Turner, Xiao, Noring, & Anderson).

Based on this, coupled with the condition of COVID-19, people often feel identical to habits that tend to be consumptive and have a habit of shopping and allocating their money to store goods with long-term supplies. given the government's policy that still considers the pandemic to continue until mid-2021.

Gozie51

hero member

Activity: 2660

Merit: 630

Vave.com - Crypto Casino

The financial lesson of covid-19 is important for all of us. Just as it affected many unprepared governments, it also affected the individuals. About the government, it obstructed the financial year and running budgets , making the government to cut off many fiscal plans both capital projects and recurrent expenses. This led to heavy lose of jobs and this is where the individual beard their own burden of it.
Now, the lesson therefore is that we all have to learn how to save for the rainy day. The rainy day is meaning the time of lack, scarcity or hardship.

These are few steps to save:

1. Avoid spending or buying unnecessary things you don't need at that time.
2. Every little change matters, don't treat it as small because a little drop of water can make an ocean (as they say)
3.Have a priority
4.Make saving a habit
5. Spend less but save more

GeorgeJohn

hero member

Activity: 1498

Merit: 711

Enjoy 500% bonus + 70 FS

Corona virus is an evidence that shows people in different country that we have to reserve in every aspect of life, these passed knowledge across the nations, because it try to educate us that finance have to be channeled to a proper way, is very clear that mismanagement of fund's or finance will always generate issues in terms these situation of corona virus, spending of money is not all about educational achievement or kind of knowledge impact in higher institutions, I find out it's base on our wants and our needs only.

hugeblack

legendary

Activity: 2702

Merit: 4002

Poor financial literacy education is one of the deficiencies in many educational curricula and thus the cause of many peoples suffering.
The middle class needs more education about money and investment and not looking for safe investments that may not benefit many of them.
The pandemic clearly demonstrated the necessity of putting in enough money if a problem occurs, avoiding unnecessary spending and increasing the financial education to diversify investment instead of saving.

cryptoboss2020

member

Activity: 322

Merit: 14

Even you are not interested about:
(Money, banking, investment, federql reserve, inflation, deflation, trading, Economics, repo, Central banks, financial Rules and regulations.)
The covid 19 shows you exacly that those who was prepared did more well Finacilly then others.

Only way out of financial troubles are to learn financial and money.

Even those who say bitcoin is not for them well If they would learn how to use it right it can help a lot.

Lesson learned for the next crisis be prepared or Cry like a Baby

Topic: Economic covid lesson for Everybody now (Read 131 times)