Cheers to a Financially Stable Future

Cheers to a Financially Stable Future

Over four million people died because of Covid-19. But at the same time, almost five million vaccine doses have been given. This number shows that we are already rounding the curb. But when it comes to finances, we still have a long way to go.

The economist tried to quantify the loss. They reiterated what the World Bank said that the global economy shrank by 4.3%. Regular folks might not understand the intricacies of GDP or GNP. But we feel its effect.

The pandemic taught us that we could never be prepared enough for the future. With this said, we should review our financial standing and rethink our retirement plans.


You might have heard that the price of bitcoin is $47,527.76. The rate might entice you to invest in it. But you have to do a little research before you jump on board.

Al Jazeera reported that bitcoin’s bullish growth might soon fade. This uncertainty is a trademark characteristic of cryptocurrency because no government guarantees its value. It is why you should think twice when investing a substantial amount of money in cryptocurrencies.

When it comes to cryptocurrency, it would be wiser to collect tokens for free. Several companies offer this. Yahoo enumerates several options where you can capitalize on cryptocurrency with lesser risk. You can even download apps that give free tokens if you play their games. But be wary when downloading these apps or entering these sites.

Emergency Funds

Earlier this year, the World Economic Forum published an article about lost working hours. The lockdown was the main culprit behind this. But it was necessary to avoid the further spread of the virus. The government was trying to protect its citizens.

This situation made us realize how financially unprepared most of us are. With this said, it is time for us to set up our emergency funds. You do not need any fancy degree to do this. You have to look for the best bank to open a savings account.

When you finally open one, you need to establish at least 3-6 months’ worth of living expenses. It seems to be a substantial amount. But remember what happened last year. It was not only our compatriots who lost their jobs. It was a global catastrophe.

We must consider the fact that we have recently detected our first case of the lambda variant. Another factor that we have to acknowledge is the recent lockdown mandates. With these two, we cannot afford to be casual with our financial well-being.

Banks offer low interest rates for this type of financial product. But bear in mind that you are merely looking for a safe place to keep your money. You are not trying to establish a retirement fund.



Filipinos became more aware of their financial vulnerability because of the pandemic. CNN pointed this phenomenon out in an article recently published. But why not pour our extra money on the emergency fund?

Remember that the emergency fund is only a short-term solution. It gives you peace of mind, knowing that if a disaster falls, you will not leave your loved ones in a lurch. At the very least, they will have the funds to take care of the funeral expenses.

This investment is necessary for those who have little kids. Without insurance, your children will not have any means to take care of themselves. You surely do not want that to happen, do you?

Financial Instruments

If you are looking for another long term-solution, you should purchase stocks or bonds. This investment can set your loved ones for life. It can continue to pay interest to future generations for as long as your family is a stockholder.

Forbes published an article about the myth of buying in a bear market. The columnist pointed out that no one can truly predict the movement of the stock market. But people will be in a better financial position if they study the company’s comparative financial statements.

Doing this will give you a better glimpse of an entity’s financial stability and profitability. You must review at least five years. For example, Company A received a contract with the government. This deal will make it appear lucrative. But that arrangement might be the only profitable transaction.

If you study Company A’s comparative financial statements, you will see that this is the case. You can also compare it with other entities.

It is better to be prepared. If not for yourself, think about your loved ones. Your current financial health might not necessarily equate to future stability. Again, we can only prepare for it.

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