4 things to prepare before we face the next crisis.

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The Movement Control Order (MCO) came suddenly, many people say. I think if we look back now, it came at the right time. Just another week of delay would have been disastrous for Malaysia. Some countries prefer more freedom… do take a look at their numbers today where infections are concerned yeah. As at yesterday (16th May 2020), our recovery rate for infected patients have reached 80%. This proves again that our medical professionals and facilities are really top notch too. I am grateful for that.

#1 – Do we already have savings? Now we come to this important question. MCO is now continued with Conditional MCO until 9th June 2020. How long could we survive financially if we do not have salaries during this period? Typical advice most personal finance people will give is that we should have at least 6 months in our Fixed Deposits. This is just in case we lose jobs and we needed time to find the next one. We have 6 months to do so and not fall into financial difficulty because even when salary stops, we still have bills to pay. So, do you already have 6 months saved under FD?

#2 – Do we really know other options? Do we know of some job opportunities which we could do on a part-time and continuous basis? It does not matter if it gives much lower pay than our main job. Question is, do we have that option for some funds if we lost our job today. This could be tuition teacher 3 nights out of 7 days in a week. This could be driving GRAB during the weekends. This could also be part-time accounting clerk with a few small SMEs who does not need full-time staffs. Have we started? Are we starting soon?

#3 – How quickly could we tell the world we need a new job? In fact this could even be moving quickly into a profession which is still hiring; real estate negotiator (REN) or even to quickly tidy up the resume and use our network to find another role. Erm… did we build up this network earlier? By the way, it does not even have to be some MLM or Networking clubs. It could even be Toastmasters where one learns Leadership and Communication and gets so many friends from different specialisations and industries.

#4 – How about learning and working harder? Learning how to bake a cheesecakes is easy. Getting customers should not be too hard by starting with your friends. However, one would need to work hard to bake and deliver and come back to bake and go out to deliver again. Assuming it’s a profit margin of RM10 per delivery, if we are able to just bake 8 and deliver all of them within a day, that’s still RM2,400 per month. It will not make you a millionaire but it will help you survive the tough times.

The choices are aplenty. The extra earnings; money is not considered easy. However, if we are willing to put a little more effort, the result will be a positive one, definitely. Google can be a friend. You can get advise / tips on almost anything you think you want to start. Your friends (if you really do have real friends), will be able to help you too. Yes, I do have friends who moved very quickly into using social media as a source of new income.

It’s not easy but we still have to start somewhere. A journey of a thousand miles as they say will usually start with the first step. We cannot change the wind but we can adjust our sail. In Malay, it’s Hendak Seribu Daya, Tidak Seribu Dalih. The choice is yours. Happy choosing but more importantly, take the first action.

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