Making it work

Money Magazine Australia|June 2020

Making it work
Lockdown has encouraged us to discover new skills and revive old ones
Julia Newbould

Living in the time of coronavirus is like nothing we’ve known before. Although the lessons we’re learning during this time are ones we’ve heard many times before.

For instance, we’ve experienced first-hand why it’s important to set up that rainy day fund and have three months of expenses set aside. We’ve discovered why it’s a good idea to use the three-bucket method of investing: short term, medium-term and long term. If we’d had money in each, our long-term investments might have remained untouched in these tougher times.

Reuse, recycle, and conserve – three more wise lessons. Not only do they make good financial sense, they also benefit the planet and our future.

In homes everywhere, wardrobes, bookshelves, and cupboards have been decluttered, with hopefully more than a few unwanted items sold online. Even our gardens have drawn renewed interest, with many of us finding ourselves elbow-deep in soil, planting leafy greens, and other edibles.

It’s not unlike post-war society, when our parents and grandparents had to learn the hard way to make better use of what was available to them.

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June 2020