I shared with you the possibility of WWIII happening very soon, or the fact that it might all end soon as well. My prayer is for the latter.
However, whether we are at the bring of another World War or not, it is important to protect your personal economy because your government will not do it for you.
So, here are a few ways in which you can do just that:
- Take stock of what you have and calculate your personal and/or household Networth. Your networth is your total assets minus your total liabilities.
Assets are simply things that put money in your pocket (A job, business, books, cars in Uber, Rented apartments that you own etc).
Liabilities are things that take money away from your pocket (your house rent, house upkeep, your car, bills, loan repayments etc).
- Have a budget. And stick to it. Now is not the time to be winging it and just spending money as it comes. A budget allows you the ability to forecast your spending.
- Increase your earning power. Start a business, raise your fees and prices, create and sell more products.
- Create Passive Income Streams. Invest in dividend earning stocks. Invest in other people’s businesses, start and monetize a YouTube Channel. Write and publish a book. Create digital products.
- Invest in legit, stable markets and assets like EFTs. Think longterm when investing. Long term means at least 3-5 years minimum.
- Do not be greedy. Do not gamble your money away with unusual risky investment schemes that promise ridiculously high returns in a very short period of time.
- Educate yourself. Personal development is a must-have in these times. You cannot afford to have someone dictate the direction of your life.
- Get your passport ASAP. So many people are stranded on the borders of Ukraine now because they do not have passports. Your passport is your identity outside your own country.
- Save aggressively. Be cash rich in this time. Have emergency savings enough to be able to get you and your family out of the country overnight, to a safer place, should things escalate.
- Educate yourself on recent happenings. Get your news from actual, trusted news sources, not from the Twitter feeds of celebrities and random people who may or may not have their own agenda, which may cause them to skew the truth and give their own opinions, rather than share what is really happening.
- Avoid political debates online and offline. The internet is forever. You don’t know who is secretly recording you or taking screen shots of your posts for future reference.
When in the heat of the moment, and without adequate facts, you say something that is wrong, you cannot go back and say sorry when the damage has been done. Resist the urge to say something.
- Want to do something? Donate to relief efforts. Let your actions speak for you. You do not have to post the screenshots of your donations to prove something to anybody. Take your sceenshots and save them to your phone for yourself.
- Call your loved ones and tell them you love them. We often under estimate the power of hearing those words until the people we wish to hear them from, or say them to, are no more. Normalise telling people you love them.
- Finally, practice empathy. People are going through horror all over the world and it is hard to keep track of all the conflicts. It’s even harder to be constantly embroiled in them because it can take a mental toll.
But in these times, be kind to people. You don’t know what each person is going through. Share a smile, a hug if you can, do a kind deed and be understanding.
- If you are religiously inclined, pray. Pray for yourself. Pray for your family and loved ones. Pray for your country and your leaders. Pray for Ukraine and the people of Russia who want no part of this. Pray for peace. God bless you.
