Adjusting My Financing Future For the New Normal of COVID-19
It’s like we’re stuck in the worst Stephen King novel ever. New chapters keep appearing daily and there is no last page.
This horror won’t end.
That’s how I feel about the coronavirus pandemic.
What also seems quite apparent to me is that, whenever this horror ends, we will have a new normality. We may not need to go to facilities that offer covid testing in san francisco, including other states when this has finally calmed down, but for now, they are incredibly important for people to remain safe.
I don’t want to just focus on the horror. Things won’t automatically go back to normal when this is over.
That must include finances as well.
Why focus on that? Over 17 million people lost their jobs over the last 3 weeks.
I’m sure all of those people are focused on their present and future financial stability.
So, why shouldn’t I? I am focused on saving as much money as possible now.
Still, entire business industries are now strategizing how they will conduct businesses post-COVID-19.
For example, how will restaurants reopen and profit the way they did before COVID-19? Many will undoubtedly seat less people at one time to observe social distancing.
Biodegradable and/or disposable one-time use menus, straws, utensils, and masked servers may become the new normal in restaurants. Your bartender or valet my be masked. Ready to dine? I’ll be saving money until I’m ready. It’ll definitely be cheaper by then.
There will undoubtedly be less restaurant workers on hand until new business strategies are implemented.
Also, there will be guidelines on how wait staff interact with diners, meaning less interacting than in the pre-COVID-19 world.
Waiters or bartenders wearing face masks will be the new normal.
The average person spends $3,000 annually on dining out and take-out. That estimate will probably decrease in a post-COVID-19 business world with less restaurants and initially timid consumer demographic.
What does that all mean?
I won’t be wasting money until the new economics of this cruel new world is normalized. There won’t be a concert or sporting event soon, so why worry about it now?
Making more money is my focus.
People are buying and hoarding hand sanitizer or hydroxychloroquine in the hopes of profiting.
I think its better to think about investing in tourism.
Or, strategizing how much money I will save in the burgeoning post-COVID-19 business world.
Post COVID-19 Era Finances
It’s going to take a long time for the new normal to finalize in the cruel new world that settles in the aftermath of COVID-19.
Will people be ready to run out and be public consumers again? I don’t think I will.
When will there be mass gatherings again? Can you imagine going to a crowded movie theater or concert venue and then hearing someone cough or sneeze?
I am not to going to pay to become panicked until businesses work out their business models.
Random coughs and sneezes in public, like in cinemas, restaurants, or concert venues, now have the same emotional impact as a nearby gunshot. Think about that. The new normal of business post-COVID-19 will be beta testing its new business plans. I’ll be saving money until those new plans stabilize.
I plan on investing in the tourism industry because in a few years it will normalize. Still, I won’t be going to a hotel or getting on a plane anytime soon.
The airline industry lost over 96% of its passenger demographic in the first quarter of 2020.
Concert and club owner may lose $9 billion this year. Mass gatherings are illegal now anyway.
Eating out? I don’t know when I will ever go to a restaurant again.
Stephen King couldn’t have written something like this.
My point is that anyone fortunate to still have work should think about how they will be saving money.
That’s what I’ll be doing. There will be so many less, and radically modified, things to do when this is over.
I’m spending my time strategizing how to save money now and for the foreseeable future.
I want the old world. But its gone. And I don’t know what the new world of business will look like.
So, instead of waiting for the club or restaurant to open, I’ll focus on saving money.
I will need more money in this cruel new world
After all, there will be so many less things to do anyway.
Read More
Why I Avoided Cruises long Before COVID-19
I’m Aggressively Saving Money During this COVID-19 Crisis
The COVID-19 Era is the Best Time to Invest in Tourism
How Can Coronavirus Affect Your Credit Score
I’ll Be Damned if I Panic Buy Hydroxychloroquine
Allen Francis is a full-time writer, prolific comic book investor and author of The Casual’s Guide: Why You Should Get Into Comic Book Investing. Allen holds a BA degree from Marymount Manhattan College. Before becoming a writer Allen was an academic advisor, librarian, and college adjunct for many years. Allen is an advocate of best personal financial practices including saving and investing in your own small business.
