(813) 259-0022 | www.distasiofirm.com LIFE & THE LAW
How Our Current State Can Teach Us to Prepare for Our Future
This positive outlook can help solve short-term problems like how to make a meal with limited options by getting creative with the food you have in your pantry. But what about finding solutions for more difficult problems? What if your work hours have been cut, or, worse, you’ve been let go from your job due to the current situation? What solutions are there then? This is when preparedness is key. We may not know how long this pandemic will last, but we do know that this isn’t likely the last time something of this magnitude will happen. So what we need to learn this time around is to prepare ourselves financially for the future. The key to this preparedness is having a solid approach to savings. And I’d recommend starting by establishing multiple savings accounts. Put 50% of your take-home pay into a primary savings account, and use this money to pay your monthly bills. Then put 20% of your income in a separate savings account and/or investments for your future. Next, create what I call a “crisis account,” and put about 5% of your monthly income into this account until you have at least three months’ worth of living expenses saved, which you can use to live on in times of crisis. The last 25% of your income is for discretionary spending. This is the money you’ll use to buy things or do activities that help you have some fun and keep that positive outlook mentioned earlier.
As of writing this newsletter, the state of the world is troublesome. The pandemic we’re experiencing is still on the upswing, and we don’t really know what to expect in the weeks or months to come. But just because we can’t see the future doesn’t mean we shouldn’t do what we can to prepare for it. When a crisis happens, it can take a toll on people in many different ways. This has already become apparent as we look at the health, financial stability, and mental well-being of those around us. As most of us stay in our homes and wait hopefully for things to settle down, the resulting sense of isolation and boredom can induce a lot of negative thinking that we should try to avoid. If you focus on the negative all the time, then you open yourself up to even more worry and fear than you’re already experiencing. That’s why it’s so important to focus on positive things and try to find solutions to problems instead of focusing on the problems themselves. There’s a saying that goes, “What you focus on, you get more of,” and I think this can guide us in our attitudes toward problem-solving. The idea is that if you focus only on how a problem is affecting you, then you’ll only experience stress and negativity. But when you focus instead on finding solutions to those problems, then positivity can bloom, and your outlook and attitude are uplifted.
But in trying times, you have to do what makes the most sense for you. Please know that I am not your guru, and I realize that. I just hope to offer some tips that have served me well in my preparedness planning. I learned them from reputable sources I trust, and you should create methods and practices that work for your situation by finding reputable sources you trust that resonate with you. Then, don’t be afraid to share them with others who might need advice. We can get through these tough times if we work together.
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