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For all the uncertainty that the lockdown has conjured, one of the most valuable lessons to come out of this has to be our relationship with money and how we plan for life’s uncertainties. Now more than ever, the COVID19 pandemic has taught us that we need a new approach to financial planning, or for some us, we need a strict reminder to remain committed to our plans. Use the lessons below to assist with financial planning:

Always have an emergency fund

It’s important not to underestimate the importance of an easily accessible savings account to outmaneuver the uncertainties of life. Whether it’s a short term convenience for paying rent when you lose income, buying data for studying online, or assisting family members when life happens.

Many experts advise having 3-6 months’ worth of living expenses set aside. That kind of saving requires discipline but trust me, you will thank yourself for putting away cash regularly for a rainy day.

Spend money wisely

Before the lockdown, you could have probably easily saved a R1000 a month from eating out less and Ubering. Thanks to locking down of economic activities and reduction of disposable income – preventing us from sitting out at restaurants and going out, this has made us realise how easy it is to save money if we can apply a bit of discipline to things we can do without or less of.

Of course, everyone deserves leisure from time to time, but going overboard may be unhealthy. You must remember that cash in hand does not mean cash to spend. Use this time to reflect and evaluate if some spending can’t be re-directed to a savings account.

Gain clarity about your work contract

Retrenchment and pay-cuts have become a reality for many South Africans. If you are a young professional, sometimes asking questions can become intimidating. But it’s important to always ask the right questions regarding employee rights and benefits in case of retrenchments.

Sometimes we often let the excitement of securing employment overlook the fine print, but if this pandemic has taught us anything, it is important to understand employee benefits and rights should any career storm hit you.

Get a passive income/ side hustle

It is no secret that many businesses were put out of operations during Covid19, leaving millions of people uncertain when they would receive their next salary. On the brighter side of things, this has shone a light on the value of having a passive income or starting a side hustle.

If you have a skill that can be monetized, do it! Do you have a creative flair? Make and sell earrings. Become a paid freelance writer. Invest money and earn interest. Stop making excuses and start that business now. Let go of your fears and put yourself out there.

You’re never too young to budget

Our current economic climate has encouraged a lot of people to start budgeting. But you should not only be budgeting in times of crisis. Make it a part of your life. Remember you’re not too young to start forming these healthy habits.

In fact, it is probably the best time to familiarise yourself with budgeting at an earlier stage so that it becomes second nature when you’re older. Keep track of your income and expenditure and pay of debts. Stay committed to sticking to the budget. Your future self will thank you.

It is always empowering to have control over your finances as opposed to your finances having control over you. Getting real and frank regarding your finances can be quite a daunting experience, but if you are transparent with your money, it makes it easier to avoid financial knocks.

It is mindboggling that the mind is as delicate as it is powerful. That’s part of the reason it is important to have a balanced set of experiences between solitude and social interactions. An interesting factor for many people is that being alone with one’s thoughts, and allowing one space and time to let the mind drift without any interruptions can be quite intimidating. Especially when it hasn’t yet become an ingrained habit. What’s more important though is that the experience of spending time alone doesn’t have to be negative.

And for the sake of your overall well-being, it’s essential to set aside the time to have conversations with yourself. With time and progress, that time can easily become sessions where you get to think through your thoughts, make sense of emotions, and seek to understand why they exist. Spending time alone can also add value to your relationships; boost your creativity and overall confidence. It also helps with learning to deal with emotions much more effectively, which then leads to a stronger handle on things when difficult situations (eventually) arise.

There are a few other ways through which you can reap the benefits of enjoying your own company:

Developing a stronger sense of self

Solitude can provide a chance to learn more about yourself and when it comes to your creative expressions, it can help you rediscover your own voice. The time spent alone can also help with accessing long-forgotten memories, gaining a clearer perspective and finding solutions for the daily challenges you face.

Cultivating a healthy relationship with solitude and making the independent choice to be alone helps with your development, strengthening your sense of self, and determining what your true interests are.

Visiting and analyzing childhood memories

Meditation allows you to constantly renew the mind, and hobbies play a big role here. This way, you get to break free from the world around you and achieve tranquility and be totally present in the moment through a combination of the pastimes you choose to engage in.

Solitude also helps with finding new interests and ideas without having to worry about the opinions of others.

Be inspired to offer more to your relationships

Comfortably spending time alone can also encourage you to form new habits that add value to your relations with other people.

By spending more time with yourself and getting a better understanding of who you are and what you want out of life, you’re likely to make better choices about the type of people you want to hang out with. Also, you may place more value to your relationships after spending time alone.

Relearning details you’ve forgotten

What might also add more depth to your memory is the act of journaling your thoughts, ideas and emotions.

In times of isolation, writing down what goes through your mind can provide a safe space to vent, talk honestly to yourself, and achieve clarity about what you need to do in different situations. And if you happen to have a hard time listening to your thoughts, writing them down can be a good way to sort through and evaluate those thoughts and emotions.

And still on writing things down, another way to improve your self-understanding is making time to read through the notes you might’ve written before. It’s a great way to revisit your thoughts with an objective mind and attitude.

For the fact that we’re human beings, our ability to face ourselves without being intimidated or unsettled is the first step in seeking and maintaining contentment. Spending time alone can ultimately help you gain a stronger control of your emotions and improve your mental and emotional health.

To close it off, an excerpt from Paulo Coelho’s Like The Flowing River perfectly captures the significance of solitude:  “A return to paradise is guaranteed to anyone who recognizes his or her reflection in the water and feels no fear”.