Today I’m going to show you exactly why you need to have a feasible financial budget to prepare for any kind of natural disaster or pandemic.
The Covid-19 pandemic, for example, has left so many Americans stranded this year 2020 – 2021, and with the below stated out reasons, you’ll be able to understand the risks involved if this issue’s not treated carefully.
5 Good Reasons to Prepare a Financial Budget for Natural Disasters and Pandemics
The world at large has suffered several pandemics, some more deadly than others, depending on the means of spread and believe it or not – our level of preparedness.
The Ebola virus for example started in the rural areas of southeastern Guinea and later spread to the urban settings.
Looking at the more recent Covid-19 Virus that started out in China – it is definitely no news that by reason of this disease, there was state and country lockdown all over the globe.
A lot of workers were let go of their work; Hotels and companies were forced to close down due to the strictness of the lockdown and measures taken to reduce the spread of the virus. The private sector of the economy suffered a great loss during this lockdown.
Natural disasters on the other hand wouldn’t be what they are if anybody could stop them.
These are occurrences that are beyond our control. The only thing we can do about them is to learn to predict them and prepare for them as best as we possibly can.
For example, in 2006, Hawaii experienced 30 days of torrential rainfall which resulted in the flood.
Flood and many other natural disasters are a natural occurrence which comes at different velocities and still hits hard every time because people don’t have the monetary backing to face it.
The following reasons will help you better understand the need to prepare financially for natural disasters and pandemics:
#1: To Reduce Fear
Fear indeed can complicate issues, especially when it comes to organizing one’s financial budget with the event of a natural disaster or pandemic.
Being afraid and anxious can also lead to one making irrational decisions that could harm their finances the more.
Fear in a way can also prevent you from making unwise decisions in the event of a natural disaster or pandemic, but it’s better still that you are prepared than using fear as a metric for making financial decisions in situations like this.
It is a powerful weapon that hinders one’s freedom to make decisions wisely.
#2: To Ease the Burdens
Preparing a well set out financial budget for these types of events goes a long way in helping to ease whatever burden you may encounter when the time comes.
For example, by keeping up with updates on natural disasters that happen on a regular basis around you, and creating a well-planned out financial budget to sustain you during that period, you won’t have to go through the burden of maxing out your credit card in order to do some emergency grocery shopping that’d sustain you throughout that period.
Preparing financially for events like this will make you structure your daily spending in a way that it won’t affect you negatively at the time of the crisis.
#3: To Protect your Mental and Physical Health
Lack of money is a major and disheartening factor in diminishing one’s mental health. Constant contemplation and stress on the mind take a toll on the mental health of a person and in turn, the physical health.
According to the WHOs status report of non-communicable diseases, 2010: 46% of adults from the ages 25 and above suffer hypertension and rise in blood pressure. One of the causes of high blood pressure is mental stress.
#4: To Reduce the After Effects
Pandemics leave a sour taste on the lives of everyone affected.
People lose loved ones, properties, jobs and it’s important to at least have a safe landing when all this is over.
The world hasn’t recovered from the Covid-19 virus pandemic yet which threw so many countries into a state of pandemonium. We all have to get used to the new normal.
We walk on the streets and we see people wearing nose masks like its second skin, showing no signs of discomfort whatsoever.
People have to live with the absence of a family member and research shows that 70% of the aggrieved mourn mostly because of lack of funds to foot a fitting funeral service worthy of the ones they’ve lost.
People have to adjust to the state of unemployment having lost their jobs during the state of emergency. Having a financial budget set aside to take care of the things pandemics leave behind is definitely in your best interest.
#5: To Prevent any Further Family Hazard
Natural disasters can cause family hazards.
Having to relocate under such horrid conditions with a family consisting of children could result in loss of lives, irreversible ailments and mental stress if not properly prepared for.
Having a financial budget takes care of the problem of accommodation (in cases of flood, earthquake etc.), feeding in an unfamiliar place and many more problems that may arise. It goes a long way in managing an unavoidable situation.
Take the necessary action today to plan properly for unavoidable disasters that can be managed with the right budget.
Financial Solutions for Natural Disasters and Pandemics
Now, you’re probably thinking –
But I don’t earn enough to draw out a proper financial budget? Saving for emergencies will eat up all my earnings; hopefully, there won’t be another pandemic till I am financially stable, these things come once in a while right…
The truth’s that, all these are actually really valid thoughts, but also ask yourself – is this a risk worth taking?
As discussed earlier, the world is evolving and we must move with it in order to survive.
One of the best financial solutions to leverage on in periods like this is a payday loan.
It also solves the problem of low earnings too!
With this development, it is possible to have a solid financial budget no matter how much you earn.
We are here to assist you in finding a reliable moneylender to solve your financial troubles without much hassle. Using our experience in the field, we will provide you the required guidance to apply and get a personal payday loan in less than 24 hours.
Short term loans are emergency credit loans that have been designed for short term financial issues. The loan amount is small and limited to a fixed upper limit. The loans are exclusively created for the short term and will become expensive burdens when extended and used for long-term purposes.
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