How Corona Virus is Affecting Economies and What You Can do to Stay Financially Secure this period

How Corona Virus is Affecting Economies and What You Can do to Stay Financially Secure this period

It’s just the third month of 2020, but the recorded disasters have been enough to spread through 5 years. The year started with the US and Iran going head-on against each other with threats of war following the murder of one of Iran’s top military personnel by the US. A lot of us were beyond certain there will be World War III. There were even several war memes flying around which served as comic relief.

After a while, the heat between both parties cooled, but before we could exhale, we were hit by another news- the Coronavirus. The coronavirus started in Wuhan, Central China’s largest city and has reportedly spread to every continent, excluding Antarctica. Let’s not talk about the death tolls so far or how this has greatly affected the economy of not just China, but several other countries.

The purpose of this article is not to scare you or make you start shouting ‘End time signs!’

No.

The essence of this article is to inform you and prod you to think.

Stock market reports show that ‘Stay at home stocks’ such as Netflix, Peloton, Etsy, Zoom Video are doing well, while ‘Go outside stocks’ such as Uber, Lyft Inc., Madison Square Garden, etc are declining.

In another language, people are going out less and staying indoors more.

Drastic measures have been put in place to curb the spread of the virus.

If you’ve been following world news, you’ll find out that the government of Japan has ordered the shutting down of all elementary, middle and high schools. 

Saudi Arabia has canceled pilgrimage to Mecca. 

Tokyo 2020- 2020 Summer Olympics- is in jeopardy of being canceled or postponed due to the virus. 

The US and South Korea have postponed military drills over the fear of the virus.

In Lagos here, the Governor- Sanwo-Olu- has hinted that gatherings in public places may have to be banned if cases escalate. This comes after the first recorded case of the virus in Nigeria was confirmed in Lagos. It’s been reported that an Italian, who works in Nigeria, is the carrier of the virus.

As part of the preventive measures by the state, the office the Italian man works at has been locked down. This is because the virus can be transmitted by making contact with a contaminated surface, then touching your eyes, nose or mouth.

The purpose of this write up is to put to your consciousness that there are other ways you can make money without having to expose yourself by going out, especially when your expected monthly salary may not be worth the risk.

There are freelance platforms where you can sell your services/ skills for a good price. High-income skills like copywriting, graphics, web design and development are usually in high demand and people are usually willing to pay highly for it. Freelance platforms like Upwork and Fiverr pay in dollars. As freelance platforms, you understand that you can work from the comfort of your home instead of going out, thereby risking yourself.