07/04/2020
A few days ago I woke up craving hugs and handshakes, for real.
COVID 19 lockdown, a moment of stillness which is both malevolent and benevolent. From a Finances point of view. Malevolent because of limited movement, inability to buy what we like, not being productive and earning income. Businesses and personal income have been negatively affected with minimal to zero income to most but, debts and expenses to deal with.
Benevolent as we have time to reconstruct ourselves and how we do things during and after COVID 19. With limited generation activities, isn’t it now time to re look how our income generation activities evolve to adapt to the current situation and beyond? Its amazing how much of the ‘usual expenses’ have fallen off and we are still OK! e.g how much fuel have you saved since lockdown? No travelling to meetings and paying for coffee, no random visits etc. Fewer unnecessary spending like eating out.
Colour Accounting teaches us practical double entry of transactions. Degenerating value (expenses) in order to generate more value (income generation activities).
In practical sense, such transactions continue to occur with good lessons. Mine are beauty of ZOOM meetings, not eating out and can now do virtual hugs!
What have you learnt that you will normalise?
