Protecting Your Personal Economy During A Crisis (Part I)

The COVID-19 Pandemic of 2020 exposed just how vulnerable our personal economies are. As cities and states began to shut down and businesses were forced to close the reality began to sink in.

Millions were suddenly jobless, losing most if not all of their income and were totally dependent on the government for help. Unemployment rates reached record highs and hiring freezes made it nearly impossible to find new jobs.

You may be reading this article right now because you’ve been impacted in some way through no fault of your own by a personal or global crisis. Perhaps, you suddenly lost your job or were unable to perform your work because you got sick or needed to care for a loved one.

You may have even been fortunate enough to continue working but recognize now that you need a safety net. So what options are available for the ordinary American who is already busy working a full time job and caring for family members and loved ones? Is it even possible to protect or even insulate your personal economy in these situations without relying on the government, exhausting your savings or going into debt?

YES, and let me explain why I am qualified to speak on this subject.

There was a life-changing event that impacted my family several years ago, however it was the response to this misfortune that prepared us for what was to come in 2020.

In 2013 my family went through a personal crisis after my wife, Jemima, gave birth to our son. She experienced postpartum complications which ultimately led to a permanent disability. She was only supposed to be on maternity leave for a few weeks, but she never returned back to work.

Suddenly we found ourselves staring at the reality of attempting to raise 3 young children in our new home with only one source of income. We thought we had hit rock bottom, but it was about to get a lot worse.

We quickly went through our little bit of savings and turned to credit cards in order to keep up with our expenses. Before we knew it we were tens of thousands of dollars in debt with no plan on how to repay. The creditors came calling, and the lawsuits were on their way. We were fighting a losing battle. 

So what changed for us? It changed when we started playing by a new set of rules.

It is how we went from crisis to having one of our best financial years in 2020 in the midst of a global pandemic. It is why we are profiting more when the economy is heading into a recession.

Understand you can’t pick the cards that you’re dealt, and you can’t choose what happens to you. You can only choose how you respond - how you respond to adversity - but more importantly how you respond to opportunity.

Which brings us to the present…

If you’re ready to learn how to insulate your personal economy during a crisis without relying on the government, exhausting your savings or going into debt then there are three essential components that you will need in your plan.

Continue to Part II to learn the Three Essential Components