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Friday, June 19, 2020

5 Wise Financial Learnings during the Covid-19 Lockdown

Hello, Lovely Ladies! 

5 Wise Financial Learnings during the Covid-19 Lockdown by The Graceful Mist ( - Top beauty, fashion, lifestyle and travel blogger in Quezon City, Metro Manila, Philippines - Top Lifestyle Website in the Philippines
5 Wise Financial Learnings during the Covid-19 Lockdown | by The Graceful Mist (

The on-going Pandemic has put a pause on many people`s plans including mine. I was on "no work, no pay" for 2 1/2 months hence the stop of regular financial provision. Thankfully, my company provided some financial assistance as well through conversion of remaining leave credits and prorated 13th month pay. If only I didn`t start saving during the start of the year, I would`ve also been doomed and on a forced diet. Fortunately, that isn`t the case for me though sadly to say many people can`t say the same

Being on the lockdown for more than 2 months has made me truly realize these 5 significant financial moves to do now that I`m back to work again which I would love to share with all of you to make sure that we`ll all never lack financially in the future:

1.) Prioritize Emergency Fund

I can`t stress enough how helpful it has been for me to have the little savings I was able to keep from January to March. I was trying to create an emergency fund good for 3 months first with the plan of saving up for another 3 months (a total of 6 months). Though I wasn`t able to reach the 3 months emergency fund, I`m still glad for what little I have saved up.

I`m so thankful and blessed to be able to eat and sleep without a worry of what will happen tomorrow. Though I don`t have the stability that I long for yet. I`m prayerfully grateful for all that I have and the job I`ll come back to once the lockdown is over.

2.) Besides having emergency fund, stock up on emergency supplies and food that has long shelf-life.

When I went grocery shopping before the lockdown, many affordable goods with long shelf-life are out of stock including canned goods, and noodles. Having at least a month`s worth of basic necessities like toiletries and food would be a great idea.

You may download or take a screenshot of the grocery list and emergency supplies guide below that you might need for about a month depending on how many there are in your family. You may add or remove some items as well  based on your needs.

6 Wise Financial Learnings during the Covid-19 Lockdown | Emergency Supplies | by The Graceful Mist (

3.) Have a sideline.
Because I was not getting paid, I am deeply motivated to look for another source of income that I can do part-time or anytime. Having another source of income during this time is extremely essential.

Here`s a a few part-time jobs or another source of income that you may want to research more about and do:

❀ Online Selling (most specially of essential goods)
 Online Palengke/market
Online English Teaching
❀ Virtual Assistant

You can check more part-time (and full-time) jobs you can do at home here.

4.)  Short-Term and Long-Term Health Insurance is Essential

Now that we`re on a lockdown due to the virus, I can`t help but think, "What if I get sick because of the virus?" *knocks on wood 3x.* Have you heard of the news of the lady who was billed Php 3,000,000 after surviving the Covid-19?  Thankfully, she didn`t pay anything because Philhealth covered everything on her bill. However, they recently released a set amount of coverage depending on the extent of here as well. 

If the lady was admitted after April 15, she would have to pay more than 2 million Philippine Pesos for her hospital bills!

Sadly, my short-term health insurance which is my HMO provided by my company doesn`t cover the Covid-19 unlike other companies` HMO. So what would happen to me then if I contracted the virus and the hospital bill went over the Philhealth coverage? *knocks on wood 3x again*

Having both short-term and long-term health insurance is definitely a must. I`ve been wanting to get Kaiser`s long-term health insurance which also includes life insurance and investment. Does anybody have experience with this health care? I would love to know your thoughts.

Another learning is to have emergency fund not just for the monthly expenses but also for health emergency purposes. There may be times that there may be difficulties using both the short-term and long-term health insurance so having cash on hand for health emergency purposes is a must.

Sometimes, some hospitals and doctors are not credited by your health insurance so you would still need to pay first and get a reimbursement for the medical expenses later on from your provider.

5.) Long-term Financial Provisions

This Coronavirus is definitely scary. We don`t know when or how it`ll be stopped from spreading. One of the main downsides of having this virus present in the community is the damage it`ll have on  the economy. Like me, many people were out jobs during the enhanced community quarantine. Considering the time I should`ve used to work, and incentives to be earned, I definitely lost a lot of money.

This virus hit me so hard how important it is to build your own empire. In the meantime, we can work to build others` empire. In the long run, we must have the vision to be able to run our own. Being financially secure and stable in life are significant but let`s not forget to have faith in the Universe that all will be well soon and that everything happens for a reason. Let today`s hurdles be a motivating factor for us to grow in faith and in our race in life. 

Please stay safe at home. Have a blessed and beautiful day!

Disclaimer: This post isn`t sponsored. All opinions in this post were written with utmost honesty and sincerity. 

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