So how is everyone coping with the lockdown?
Part of me cannot believe that we are in week 6 (for those who did not have to isolate prior), time feels like it has just flown by! Then other part of me is disappointed that it is only week 6.
Let’s be real; despite the government only giving us our lockdown orders in increments, it is very probable that we will be living this way until at least June. It is unfortunate for us but our government has very little in place, we have only reached a quarter of our daily testing targets, lack PPE and our Prime Minister has only just come out of hiding as to avoid accountability. But I digress…… my direction for this particular blog post is supposed to be a lock-down adventures update.
The above is an interesting picture that was shared via Whats App and this resonated with me on all levels. Its evident that during this lock-down my monthly spending has decreased. I am no longer committed to paying full nursery fees, neither do I to have to facilitate all the boy’s extra curriculum activities, my car is only driven every two weeks to collect groceries that are not easily accessible by foot and my social fund is no longer required. At this time, I should be making a plan to invest, considering ways to multiply my saved wealth and plan for my future. So why is it all these funds seem to have been diverted to my food bill?. Before Covid-19, my food bill was approximately £40 per week including fresh fruit from the market. Amidst the corona my food bill is averaging about £85 per week. I am now responsible for meals at lunch time but surely this does not warrant a £45 increase, I appreciate the price of some foods has risen but even still. I know that I now have to supply all snacks too, but really even with these additional items, where is this money going!?!
In my last blog I wrote about my use of the tuck shop to control snacking, if you missed this post you can read about this here. To update you this is working a treat, the number of snacks they request has decrease substantially and they have finally cottoned on to the fact that buying fruit and vegetables is three times cheaper than the junk. In additional Ru is now attempting to save his money and is very reluctant to spend it on junk; he is always seeking out innovative ways to earn more money – who knew a 5-year-old could get so excited stripping his bed sheets! I am happy to say that the life lessons on economics, budgeting and saving are laying their foundations on him.
I am one of the lucky people that works for a local government and will be receiving a regular salary throughout these times. But I have friends who have been furloughed or are self-employed and have to live off savings or undertake other roles until the government scheme kicks in. I have underestimated the amount of time I would have for myself during this period. I thought that I would be able to use this time to boost my income by finally listing items that I had been holding for eBay. Unfortunately, this has not happened but I have started to build a small share portfolio which I deem a long term investment for myself and the family. I have been a Chairperson for a Share Club for over a year and our shares are all performing well despite the turbulence of the markets, so now I am thinking of branching out on my own as well. I used to think of shares as complex and scary, but being part of the share club has provided me with a safe space to learn with others. I may not become a millionaire, but I am building a legacy through the platform of Etoro and if left to mature long term (10 – 15 years), will be investments that will definitely pay off.
Have you ever considered buying shares? Do you think you can build a legacy via the stock market? Or does this all sound too risky and scary? Let me know by commenting below.
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