I know many people are desperate for the familiarity of societal life in 2019 to return.
Who doesn’t want to go to a concert, sports event, café, or the beach? Don’t you miss shaking hand or hugging?
Do you really think that in a month or two we’ll all just live life the way we did in 2019? (2019 feels like a century ago, doesn’t it?)
Are you in a hurry to go to the local hospital? I’m not. I’d set my own broken leg before I go to the hospital.
Many people, like anti-shutdown protesters, seem to think that COVID-19 is a political ploy, a hoax.
It isn’t.
The effects of COVID-19 on a macro and micro economic level must not be trivialized.
I’m so done with self-imposed apartment exile. But I’m in no hurry to run outside.
I am in no hurry to run out and pretend to be a 2019 consumer unencumbered by social distancing tenets.
Many anti-shutdown protesters and some state governors are in such a hurry.
Numerous states, including Georgia and South Carolina, will begin reopening their state economies this week.
The president’s task force guidelines on COVID-19 suggests that states experience 14-day declines in infections before considering reopening.
No state can claim such a feat yet.
People and governments are in a hurry to get past COVID-19.
I am in a hurry only to save money and protect my health. So, I won’t be going out until Dr. Fauci or some science authority says it’s OK.
Time to Save Money, Not Nostalgia
As I write this, over 42,000 Americans have died from COVID-19.
Over 80% of those deaths occurred in the past 7 days.
About 22 million Americans have lost their jobs in the past 4 weeks.
People are lining up in their cars for miles to access food banks.
The economic havoc caused by COVID-19 won’t be solved anytime soon.
No, we can’t stay inside forever.
Still, rushing out and pretending this crisis is imaginary will cause infection spikes and waste the gains created by previous lockdowns.
I am not risking my health.
Not yet.
I don’t have enough money in my bank account, and I don’t have enough money saved.
I’m fortunate enough to telecommute. If I go out and get sick, no one is going to pay my bills or my medical bills.
So, I’ll continue working and saving money.
The only thing scarier than COVID-19 are the unemployment and poverty crises it’s creating.
There can be no economy if everyone is sick, contagious, or dying.
I’m protecting my health and back account until COVID-19 is no longer a threat. Science determines that, not politics.
That is the cruel new world economic reality of 2020.
The normalcy of 2019 is not coming back, no matter how much we miss it.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.