The COVID-19 crisis has caused an economic downturn with businesses being forced to either shut down or implement cost cutting measures that include pay cuts and layoffs. This has many employees living with the fear and anxiety of losing their jobs.
By creating an emergency fund, you’ll be able to financially prepare for any emergencies, such as unemployment, with a safety net to fall back on. Emergency funds can keep you covered during a time of need without having to depend on credit cards or high-interest loans. If you already have debt, this can help prevent you from accumulating more.
Ideally, an emergency fund should cover 6 months of your expenses, but during pressings times like these – here’s how you can start saving right away:
1. Calculate your expenses
It’s important to know where your money is going rather than wondering where every time you check your bank balance. Go through your recent account statements and create a spreadsheet that shows your daily, weekly and monthly expenses. This will help you understand your financial situation better.
2. See what you can cut out
As we’re not encouraged to eat out and saving travel costs by working from home – put aside what you would usually spend instead of using it to shop online (we know how tempting it is!). Find and cancel any unused paid subscriptions, as well as review your current plans, such as cellphone and insurance, to see if there’s a more cost-effective alternative.
3. Create a savings account
It’s easier to see, and not touch, your savings when it’s kept separately from what you spend. Open a savings account at the same bank or one that has a higher interest rate – it needs to be accessible in case of an emergency.
4. Set a savings goal
Moving forward, set a target for you to save daily, weekly and monthly to get into the habit of saving regularly. You’ll be able to see that even saving RM5 a day can amount to almost RM2,000 at the end of the year! This makes it more encouraging and easier to do.
It’s become more essential to start an emergency fund for both your financial stability and peace of mind. All you need are the right goals and a realistic plan to match!
During a time of social distancing and restricted movement, we find ourselves physically isolated – but that doesn’t mean we can’t connect with each other. It’s actually essential that we do so during times like these because now, more than ever, we need each other the most!
The rise in coronavirus cases has evolved into another national crisis that’s called for us to support our own communities. If you’ve been struggling to deal with problems on your own – self-care isn’t enough to get you through this pandemic. With community care, you’ll be provided the support needed during these hard times, making collective care key to getting through this.
But what exactly is community care? It’s the compassion we show others, whether one or many, and the actions we take to do so – regardless of the size. Here are a few ways you can practice community care during the CMCO:
- Support small businesses
During the first lockdown, small businesses took a big hit – seeing the closure of many stores and restaurants across the nation. The other remaining enterprises have been struggling to stay afloat, which is why it would really help to order from home-based food businesses, buy groceries from local farmers, and shop local products from home-grown brands.
2. Check in on your family, friends and colleagues
The uncertainty has made it a stressful and anxiety-inducing time for us all, so if you have the mental capacity to do so – check in on others and let them know you’re there for them. Even if you’re unable to, show that you still care by sending them an emoji or even a song!
3. Help those in need
You don’t always have to donate money to help, you can also volunteer your time and skills. Start a fundraising campaign, help raise funds by sharing an existing campaign, or go through your belongings to find things you can donate.
4. Check for facts and fake news
This is important for everyone’s mental health and wellbeing as the spread of fake news and rumours have caused many to feel anxious and overwhelmed. Stay informed and double check any news you receive before sharing it – make sure it comes from a reputable source!
5. Be more eco-friendly
For hygiene reasons, the use of disposable plastic products has rapidly grown – causing the pandemic to have a negative effect on the environment as well. Make the effort to minimise your single-use plastic waste by switching to reusable bottles, cutlery and containers. Don’t forget to sanitize!
Community care isn’t here to replace self-care, it’s a necessary addition to it. Take care of yourself and others during this time – the only way we can curb COVID-19 again is by working together!
Can you believe it’s almost been a year since the COVID-19 outbreak? As much as we want it to end by 2021, The Johns Hopkins Coronavirus Resource Center shows that there is an increasing rate of infections coming from countries who were thought to be controlling their outbreaks.
We’ve experienced lockdowns, travel restrictions, strict guidelines, and just when we were getting used to the new normal – we now find ourselves preparing for another wave. If you’ve started to feel stressed and anxious again from all the fear and uncertainty, here’s how you can cope with those difficult thoughts:
- Acknowledge what you’re feeling
The World Health Organization puts it best – when we are unaware of our thoughts and feelings, we get hooked on them. Start noticing what you’re thinking and how it makes you feel. By understanding your feelings, you’ll be able to avoid getting consumed by your thoughts.
- Practice grounding yourself
When you start to feel overwhelmed and distracted, you need to slow down and refocus your attention to the present. Start by focusing on your breathing and then move on to your surroundings. When you worry about the future, your thoughts begin to race so you need to remind yourself that you are in the present.
- Educate yourself
The Centers For Disease Control and Prevention has advised that we get to know the facts about the coronavirus to help reduce the stress from fake news and rumours. Discuss your concerns with a doctor and prepare yourself by finding out where and how to seek treatment.
- Take care of your body
Stress can also affect your physical health, so it is important to eat healthy food, exercise regularly and get enough sleep. Although there are no foods or dietary supplements that can prevent or cure COVID-19 infection, these are healthy ways to strengthen your immune system.
- Connect with others
If you’re feeling lonely or isolated, share how you’re feeling with someone you trust or talk to a mental health professional. You can socialise with your family and friends to help distract your mind from stressful thoughts.
Remember, it is normal to feel anxious and you don’t always have to be positive – your emotions are valid. Make sure you’re aware of what you’re feeling, and find reassurance in knowing that there are plenty of resources and welcoming arms to help you.
Let’s take care of ourselves and each other during these trying times!