Have Your Personal Finances Been Hit by the Pandemic? Apply These 6 Tips! (Part 1)

The coronavirus pandemic has changed many things, from lifestyles and work patterns to the global economic situation. An article in The Washington Post dated March 26, 2020 stated that 3.3 million Americans are now unemployed. This is due to the large number of businesses that have been shut down as an effort to prevent the spread of the outbreak. Economists are even concerned that the number will reach 40 million people in April. 

A similar trend is also happening in our country, Indonesia. Perhaps you are one of those affected economically by the virus pandemic coronavirus. Perhaps your income / business turnover has declined, your salary has been reduced, or you have had to lose your job.

So, what can we do to overcome the economic hardship caused by the pandemic? Follow these tips:

1. Keep Praying and Reading the Word

Your financial condition may be weakening, but do not let your faith also grow weak. There are many openings for you to lose heart in these difficult times. Yet your relationship with God is something you must not compromise. Always keep your relationship with God close by reading the Word and praying. 

Do not worry about anything, but in everything make your requests known to God through prayer and supplication with thanksgiving. And the peace of God, which surpasses all understanding, will guard your hearts and minds in Christ Jesus. – Philippians 4:6-7

God says we do not need to worry, and that we can bring our desires to Him with thanksgiving. Pour out your heart to the Lord, whether it is about needs, fears, hopes, or your difficult financial situation. Whatever it is, pray specifically, and keep praying in faith. If you have lived righteously and prayed for what is good, surely God will hear your prayers. 

2. Tighten Your Budget and Set Priorities

Why do you spend money on what is not bread, and your wages on what does not satisfy? Listen to Me, and you will eat what is good, and you will delight in the richest food. - Isaiah 55:2

One concrete step to overcome a personal economic crisis is to tighten your living budget. If all this time you have often reached into your wallet for things that are not too important, a cup of coffee, buying something for a big cashback offer, or simply because your eyes were tempted, now is the time to manage your finances more wisely. 

Use your money to buy what you truly need , not what you want. Resist the urge to shop merely for pleasure. Think again about the most basic things you need, such as paying bills, tuition fees, ongoing installments, groceries, and the like, then draw up a budget based on that order of priority.

3. Ask for Help

Then the word of the LORD came to Elijah: “Get up, go to Zarephath in the region of Sidon, and stay there. Know that I have commanded a widow there to provide food for you.” 

So he got up and went to Zarephath. When he came to the entrance of the city, there was a widow gathering firewood. He called to the woman and said, “Please bring me a little water in a jar, so that I may drink.” -1 Kings 17:8-10

During a drought, the prophet Elijah asked one poor widow in Zarephath for something to drink (1 Kings 17:7-16). Strangely, this was the Lord’s own command. If we were Elijah, we might feel embarrassed. A servant of God asking a poor widow for water and food? Yet rather than being preoccupied with ego and pride, Elijah did what was his part. 

When your financial condition worsens, perhaps you think, “How embarrassing to ask other people for help.” No, there is no need to be embarrassed. If you need help, ask for help. Just tell a relative or a friend you trust about your condition. Perhaps they can help by lending money or daily necessities. In fact, who knows, they may be able to give job referrals or business opportunities as an alternative source of income for you. 

In addition, referring back to point 2, also ask for advice from a mentor or a friend who is more knowledgeable about financial matters on how to manage your personal budget. Do not just stay still, but take proactive steps so that you avoid an even worse financial disaster. 

There are still three other things you can apply to overcome a difficult economic situation. Continue to this page!

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