Novel coronavirus is now all over Luzon, our President Rodrigo Roa Duterte issued community quarantine effective on March 17, 2020, at exactly 12 am.
Many workers working in metro manila and other areas are suffering. Not just from the fear of the spread of coronavirus, but fear for lack of funds to buy food for their family.
Most Filipinos whose quite capable are hoarding food for their family’s stock for quite some time. Yet, there are still those on the losing stick.
They are the common Filipino workers that cannot go to their work. It means No work no pay for them. Even those capable to go to work suffer from the travel ban and it means late for work or unavailable to go to work.
Being late and absent will surely impact their take-home pay. Their family would downsize their lifestyle that’s for sure, but how long they can sustain it?
Tendencies are, they will borrow money to sustain their family needs and that’s understandable.
The problem though, this cycle will continue.
History repeated itself.
We must learn to be prepared in times of crisis. So, our family needs can always be taken care of. We really need to have an…
In times like this, it is more noticeable that we are in need of cash to buy food that can last for a month or two, extra cash for other necessary things that we need like face mask and alcohol.
We need to protect ourselves and our family’s well-being.
Having an emergency fund or a fund intended for such an emergency like this is a good contingency plan you can prepare in advance.
You can still provide for your family even you stop working for a few months. The money you save up should be 3-6 months worth of your income.
Think of it, if you have the money you can use in times like this would you feel panic-stricken or would you feel comfortable instead because you know your family needs are taken care of?
Hopefully, if you are one of the less fortunate Filipinos that have yet to start saving up money for an emergency like this. You’ll start saving up once this crisis is over.
Learn from your past mistakes, they will teach you where you are lacking in preparing for future uncertainty.