Uncertain Times during Covid-19
Category News
So much has been written about the COVID-19 pandemic and how it is affecting people throughout the world in some or other way. The current uncertain times are extremely trying and weighing heavily on everyone, be it health or financial concerns. At this time I am reminded of the words of Aristotle: "It is during our darkest moments that we must focus to see the light".
The lockdown declared by President Cyril Ramaphosa is a harsh but necessary measure instituted by the South African government. Fortunately this was implemented much earlier in relation to the national infection rate compared to other governments in similar situations.
This measure should hopefully "flatten the curve" to alleviate a looming medical crisis. South Africa is fortunate in that the data obtained from other countries can be used in order to plan and adapt the approach to handling the virus. The lockdown rules need to be adhered to and contact should be limited between people. The government and health workers must be commended and supported with their efforts. All South Africans should stand together in these challenging times.
Impact and Government Measures
When the government took the decision to announce the lockdown it was probably a difficult decision and not taken lightly considering the impact of such a measure on small business, the informal sector and the economy in general. However weighed up against the rampant spread of the disease, it is the lesser of two evils.
The government has announced several initiatives and schemes to mitigate the impact of the virus and the lockdown on the most vulnerable. Still a rocky road lies ahead as the world economy is suffering and especially emerging economies, as is evident from the volatility of the rand.
Financial Concerns
In these uncertain times it is easy to fall into the trap of negative self talk. If one is experiencing financial difficulties or can see looming financial problems ahead as a result of the pandemic, do not feel alone or ashamed. The virus is affecting everyone. Do speak up. If renting, speak to the landlord or estate agent or if owning a property with repayments due, speak to the bank. The banks have debt relief programmes available but one needs to act now, do not wait.
Hope
There will be a time when there is a vaccine for the virus. When the financial markets have improved. When the world is optimistic and positive again. When unemployment levels are down and small businesses are thriving again. This might not happen tomorrow but there is hope. Take each day as it comes. Do not overthink and try not to focus on worse-case scenarios. No one is alone, if struggling for any reason at all, reach out for assistance. Better days will return.
Remember: "It is during our darkest moments that we must focus to see the light".
Author: Ikonic Real Estate