How to face life head-on in a post-pandemic world
You can never predict the future but you can always plan for it. The same is true about managing your finances. Your Manulife policy is a good step towards a solid financial plan, a plan that would hopefully allow you to manage your income, cash flow, and provide for yourself and your family, all while preparing for unforeseen circumstances and investing in longer-term goals. It’s a concrete way to balance your present and future needs, especially as we navigate through life post-pandemic.
Here are other tips on how you can financially prepare for life in the new, and hopefully better, normal:
1. Look at your current spending habits
The pandemic has surely changed many aspects of our daily lives, especially our spending habits. We’ve become more dependent on ordering everything online and many of us have tried new hobbies to cope. While these are perfectly okay and even expected, it’s now time to take a step back and review your spending habits compared to your current income and your bank account balances.
2. Expand your income
We have no idea if our current income will serve us well into our post-pandemic reality, so now’s a good time to consider ways to expand your income. Turn a hobby into a side business, start an online shop for your pre-owned clothes, or better yet, ask for a raise.
3. Anticipate changes to your current spending
If you’ve been on a temporary work-from-home arrangement with your company, you should anticipate going back into the office soon. And if you have school-aged children, you should also be preparing for their face-to-face classes anytime now. Factor in how these shifts in your current setup will affect your spending and slowly begin adjusting so you can easily make the transition once the inevitable comes.
4. Review your current insurance policies
Now’s the perfect time to reassess your goals for the future. Check your insurance policies and make sure your coverage is still active. You can always view and access your policy, download your premium notices and official receipts, and pay your premiums anytime, anywhere via . And while you’re at it, review your coverage and see whether there’s any need for adjustments, based on your current financial needs and your goals.
Having an insurance plan as your safety net puts you at an advantage both when planning for major life milestones and preparing for financial emergencies. Now that you have the right one in place, you’ll feel more secure and confident, even amidst curveballs and unfortunate events that life may throw your way, and even as you step out in an uncertain post-pandemic world.
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