When you have to hold on.

I lis­te­ned to this while wri­ting this post, try it while you read :o)

We are cur­rent­ly going through an unpre­ce­den­ted per­iod, the best advice I can give us is: Let’s hold on.

It’s easier said than done, isn’t it? It may chal­lenge some of the concepts we had for­got­ten. Main­tai­ning cash flow, for example. Having access to an emer­gen­cy fund, for emer­gen­cies, is an extra­or­di­na­ry invest­ment. It’s a bit like a reverse invest­ment where the funds, which must be acces­sible on-demand and without limi­ta­tion, will prevent us from having to bor­row in the worst-case sce­na­rio. Of course, we can count on our good govern­ment to come to our rescue, but why not be a lit­tle more independent?

Ano­ther aspect that we will put for­ward is to have a contin­gen­cy plan. A real contin­gen­cy plan. For example, no mat­ter which orga­ni­sa­tion you work for, ima­gine that the main source of income can no lon­ger be gene­ra­ted. Many would say that is unthin­kable, but ima­gine all those res­tau­rants that have had to close. All those public places that have had to close their doors. All those pro­jects that had to stop their agree­ment with seve­ral orga­ni­sa­tions that depend on them.

Having a plan and an emer­gen­cy fund makes people laugh when eve­ry­thing has been going well for decades, but who wouldn’t want to use it in these more fru­gal times?

-Dan­ny

I’m Dan­ny (aka Coa­ch­Dan­ny). I have a pas­sion: humans. Come with me and take this minute eve­ry day to explore what’s going on today and why is it tren­ding. Click here to get your dai­ly thought right on time for break­fast.

Sources: https://solomotivation.com

Trans­la­tion by Abbie Sims: https://www.linkedin.com/in/acsims/

Last Upda­ted on June 11, 2020 by Coach Dan­ny