We're not there yet.
Make no mistake - this is far from over. If you think that we're in the clear I can assure you with absolute conviction that the financial and health implications of this current situation are far from done.
I've said before that there is a time for swords and time for shields - this is the time for shields.
If you are complacent - you will fall victim.
If you want to survive through this time I can offer the below:
?? Personal Debt has to go. Credit cards/Personal Loans etc. I cannot overstate this. If you have the capacity to eradicate this debt. Consider it seriously.
?? Avoid Zip Pay/After Pay etc.
?? Get your personal household expenditure in check. We have a 3 month cashflow budget designed for this purpose and you can have it for free... just please use it.
?? Make sure you know what assets you have inside and outside your Super. Don't panic and don't sell any of these down without getting advice.
?? Keep communication open with people you owe money to - banks etc. It's important that you don't ignore correspondence. Let them know your situation and where you're at. Avoid debt collection actions at all costs.
?? If you're self-employed and/or run a business, contact your accountant and see that any PAYG offsets/Government support has been received and applied to your account.
?? If you're self-employed and/or run a business take this time to work with people who owe you money and work on making these recoveries as efficiently as possible... BUT... BE KIND. Now is not the time to be ruthless - but it is the time to be prudent. We're all in this together and if there is a way that you can work with someone for a mutually beneficial outcome... do it.
?? Take responsibility for your self. It's easy to jump on the band-wagon of social outrage and it is intellectually lazy to hide behind negative comments on social media. If you want to thrive through this time - focus on your immediate circle and how you can improve your families life and the life of those who depend on you.
"If you want to change the world...start by making your bed"... William H McRaven said it and I cannot agree more. This crisis won't be solved for you at a personal level solely on the back of government policy. Do what it takes to build personal resilience and you will find that this resistance will make you much more likely to survive the aftershocks.
This is far from over. There are a number of financial aftershocks that are going to occur EVEN IF THERE ARE NO FURTHER INFECTIONS. This is only half time - the championship minutes are yet to come.
How you act now will determine where you're standing in 3, 6 and 12 months from now. I hope you're standing with us.