Ways to Overcome Financial Stress Post Covid-19

Madniaftab
3 min readMay 21, 2022
Photo by Morgan Housel on Unsplash

Covid-19 has made us realize a lot of things from now on there is a lot of difference between ‘Pre’ and ‘Post’ Covid-19 situations. For instance, the world has recognized a lot of innovation;

How one could scale-up through technology and overcome a financial crisis post Covid-19?

Adapting Technology:

Today’s World is dependent on Technology and Innovation, Until Covid-19 Situation arises, We have witnessed how the World come under influence of Technology: People Started Online Meetings on Zoom, Worked from home got recognition, also many Businesses adapted Technology to Showcase their products on online forums, More restaurants have started their delivery services online, Digitization has become a more reliable source to work like; Online learning and up-scaling, remote jobs, digital marketing, etc. One of the things to overcome a financial crisis is Adapting technology.

1. A Flexible Source of Income:

Having a Flexible Source of income provides more efficiency rather than a static income. But, How? Here is an Example of Covid-19, those businesses, jobs, studies, etc. That has a static plan and depended on only one source of Costumers, offices, learning, etc. They got resistance from the situation and they could not cope with the situation. Having dual ways to perform a certain task provides easiness and an effective way to gain customers, work, or learn. Depending on only a single thing could be unwise in the World of Flexibility.

3. Investment:

Investing time, money, and energy to learn a skill, establish a new business, checking thoroughly where to invest and how to invest; whether it stocks, crypto, real state, or whatever investment it is, is beneficial for long-term/ future purposes. I am quoting from the “Rich dad or poor dad” book by Robert Kiyosaki; which Explains ‘Active Source of Income’ & ‘Passive Source of Income’. He said; always have two ways of income one is “Active Income” is you are doing a job there you get a salary at the end of the month, and “Passive Income” is you have invested in something for the long purpose.

Warren Buffet the fifth richest man with an estimated net worth of $118 million according to Forbes Magazine, States “Never depend on a single income. Make investment to create a second source.” ― Warren Buffett.

4. A Healthy Immune System:

A balanced and healthy lifestyle has a great impact in every case of Life; Caring for oneself by having;

  • Healthy and balanced diet.
  • Regular Exercise.
  • Engaging in healthful activities.

To overcome any crises in the world you need to have good health and a functional mind. Studies and scientific research have claimed that for those who have a low immune system Covid has impacted them more than those who have a healthy immune system.

Conclusion:

Covid-19 has impacted our lives in both ways Negatively & Positively. We will discuss here some of the impacts,

Negative Impacts:

The world was in chaos; Numerous people died of the virus, People lost their jobs, Businesses were ruined, Economical crisis and a toxic environment of precautions were created.

Although Covid-19 has,

Positive Impacts:

Covid-19 has helped the world in a certain way, Quarantine has made us realize that we have forgotten to spend time with ourselves and our families this made a strong bond with our families, A lot of people discovered themselves; indulged in new hobbies or work, Working from home become common and research claimed that “Employees’ productivity increased by working from home as they are more comfortable with their space and time”

“I realized that no matter how much time we think we have; at the end of the day, what I came to appreciate was that we simply don’t spend enough quality time with our families,” says Tomislav.

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