The quietness lurks in the surrounding, and the well-known busiest centres no longer remain the pivotal points of humdrum and commotions. As the wave of panic borne by the rapidly picking momentum of coronavirus sent a series of nations under lockdown, the individuals experienced a rush of fear and anxiety. While the news all over showed deaths and doom, a silver line persisted in some corners.
The ray of hope emerged as the environment took the shutdown as a chance to replenish itself. Meanwhile, contradictory to the routine nature, human life seems to have stopped revolving around the worldly atmosphere and flashy society as the people look for internal hope and social support. The balloon of the self-centred fashion in which we were ironically living in the social circles has suddenly burst, and the people started craving for real interactions.
The storyline of the earth takes a sudden unsettling turn, and the uncertainty has washed over every individual. The confusions regarding the duration of the epidemic, the likelihood of the infection, and even the destiny of humans together cloud the already devastated mind. Meanwhile, infection cases skyrocket every single day. As per WHO’s situation report on 3 April 2020, the total worldwide confirmed cases of coronavirus reached 972,303, and the death toll moved to 50,322.
Meanwhile, gearing for the enhanced degree of social distancing and quarantine, the New Zealand government has imposed a national emergency shutting down all the emergency services. Although the government is striving through its range of such as relief package, Business Finance Guarantee scheme and wage subsidy, all directed towards bolstering the staggering financial condition and aiding the economy.
However, with the growing turbulence in mind, the uncertainty among the investors is inevitable. Amidst the financial slowdown and predictions circulating another financial crisis, the volatility in the stocks seems to be brimming. The bearish sentiments have taken a surging pace, and many investors have left the Stock Market. The stock market crash with the growing intensity of the epidemic appears to wreak havoc in the financial smoothness of the system.
Amidst such situation, many investors are panicking and experiencing their hopes being crushed by the market movement. However, tightening our holds to the optimism and acting rationally towards both the health and investment come in handy for the future.
Keeping this in mind, here are the five tips that can help investors to stay positive during the economic and financial crisis.
Place barricade for Demotivating Factors
As the state of Covid-19 gets worse, the investors can find themselves in a panicking state. With the downtrends in the stock movement wiping out the long-generated wealth can be highly distressing for the traders. In such a situation, the range of notifications and news highlighting the impending apocalypse can give a severe blow to the last shreds of optimism.
Social media (which may be your source of survival amidst the lockdown) can also cause massive distress as a series of both real and concocted tales flash on your screen. Such information mixed with the rumours can be typically distressing and can also force you to take wrong investment decisions. Besides, they also affect your peace of mind and can cause anxiety and other health problems. Thus, during the economic and financial crisis, it is essential to keep oneself away from the distressing news that can snatch away your peace and sanity of mind.
Set Your Financial Priorities
Many investors amidst the world economic tumbling may find themselves in a worrisome predicament while some remains baffled over the future of state affairs. In such dwindling scenario, starting over from scratch is highly essential. You might need to consider your income, responsibilities, liabilities, future goals and loss bearing capability before you set the financial priorities.
Setting your financial priorities not only regarding the gleaming positive aspects but taking note of the probable financial hardships is exceptionally crucial. By evaluating the contrasting scenario, one is able to gauge one’s risk appetite helping them to move with the future plans.
Look for the silver lining
The news and stock market movement can be worrisome. The high and low tides are part of the market movement. Even though during the depressive economic and financial scenario, the downward movement heavily takes over the positive momentum, it does not mean that the good time is not going to come. History bears the scar of several economic shocks which the human civilisation has faced and has emerged in a better manner. Moreover, there are many other investment options such as dividend stocks and mutual funds which can offer growth amidst the dark times. The light persists, it is just a matter of time when it would shine brightly.
Plan your Financials Ahead
The bad times often teach us the lesson which the good time cannot. As life usually takes the hard way to show a new experience, take it as an opportunity to improve. While you are away from the hush and rush, you can serenely plan your financials. The planning may involve setting a particular proportion of money for the savings or safer investment. Make a practical plan that would align with your long-term future goals. It would also help in sailing smoothly in the current turbulent times when the resilience and hardships clashes against each other.
Do not fret on what you cannot control
Planning your financials and gauging every action is highly essential when moving ahead. However, there might be circumstances that could be out of your hand, despite it having huge financial implications on your pocket. While such a situation may often cause you extreme trouble, worrying over things one which you do not have any control is pointless. Instead, work on the areas through which you can enhance your financial stability. If you placed too much trust of risky investments, its time you might want to ponder on the strategies rather than wailing on some macroeconomic turn of events.