As you already know, for some time now, in the community event of February 20, the disease of Covid-19 has spread rapidly from day to day, causing great concern to the people of Cambodia. Many businesses have been temporarily suspended, which has reduced the income of many parents and siblings. For this reason, the Red Sparrow has come up with a simple money management rule to share with you to help solve the problem of money during the spread of Covid-19, including the following:
1. Increase the source of income as much as possible:
When your income is declining due to the spread of Covid-19 but you do not let yourself or your family have money problems, you must try to increase the sources of income as much as possible, do not expect a single salary. You can create a source of income by looking for a part-time job that has a lot of knowledge, skills, and experience of each person to earn extra income to meet their own expenses and family out of debt Or spend the rest of the day.
2. Develop yourself:
No matter what your circumstances, if you want to earn a lot of money, you must know how to develop or strengthen your knowledge and skills more every day, every week, every month, and every year. Red sparrows, torrential Mr. Kosal said
"when your knowledge, skills, increase your income is up to them"
3. Do not spend according to desire:
There is a saying that "desire is equal to money" at this point, if you can not control your desires, it will make you spend the money wasted according to desire. His hobbies are: buying new clothes, expensive shoes, or spending money on things that do not require too much daily use. I do not want you to not spend money, but during this time, if you can reduce unnecessary expenses, it is good not only that, it will help you have some money left over and take The rest of the money is used to pay for things that need to be used daily.
4. In a crisis, there are always opportunities (learning to invest):
The above three points can not help you become rich or financially free, it only makes you a prosperous or decent life as long as You can still work, but if you stop working, your life may be in trouble. So to push yourself away from money problems or to become rich and financially free in the future is only an investment. Even if you sleep, money works for you, and your cash flows into many bank accounts day and night.
Investing You also need to understand the investment opportunities, what amount of money you have in hand can invest in? And what are the investment opportunities in the Cambodian market? Among the investment opportunities that you can look at today are stock markets, international currency markets (Forex), investment in start-ups, and investment in real estate.
Also, before deciding to invest in any field, you must first study and understand to understand what you intend to invest first. To avoid investing in the right direction, you will fail more than succeed.
For small business start-ups, you can look at businesses that have a market and spend less capital. There are, of course, many small businesses you can start your own or invest in with others. Examples of small businesses are: selling sugar cane juice, stalls selling drinks or street food, selling products made online, or importing goods from abroad to market.
In short, all of the above are just some ideas or knowledge to show parents and siblings who are experiencing declining income, and others who have completely lost their income due to the spread of Kovid 19 can be considered Be clear, if you think these ideas are good, you can try to implement them, but if any ideas do not suit you, please give them up.
Of course, you do not have to accept everything that others say or say, but give yourself a chance. Read openly, and if you think it is right, try to apply it, but if it is not right, give it up.
Author: Lii
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