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?
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.
Translation by Abbie Sims: https://www.linkedin.com/in/acsims/
Last Updated on June 11, 2020 by Coach Danny