Money (Bond Notes) and Lockdown.

Hey girl hey! 

The world looks so much different now since we’ve been in lockdown, quarantine or social distancing for what seems like forever now. Most of us have started noticing the changes in our lives no I don’t mean those extra pounds that we will hopefully take care of when all of this is over 😏

 I am talking about your finances !! Yup FINANCES girl. On a personal level, I have noticed some significant changes that are nothing short of positive and it has got me thinking if this could possibly be my new normal. I have noticed that lately, I have a bit of money left over and I think it’s mainly because I haven’t been able to go anywhere where I could actually spend it.

I have caught myself asking these questions a lot lately, did I really need to go to those places? Did I really need to buy that meal when I could have packed lunch from home? Did I really need to go to the movies every weekend because well I’m bored and there’s not much to do

Don’t get me wrong though! Now and again it’s good to catch up with friends over drinks but the frequency at which this happens is what I am hoping we all see the light of day on. Girl, you don’t always have to break the bank to meet some of these unrealistic expectations

Now that we all have the realisation that it is possible to have a few coins left over even if they are bond notes, well what’s next?

Due to the unstable nature of our currency, you must preserve and attach a different form of ‘real currency value’ to your RTGS. We all know that the same $100 that could buy 4 loaves of bread last week might be worth 3 loaves today if we are lucky. And I hope like me you do not want to leave anything to chance

How do we preserve value? we can kickoff by giving that bank balance an overhaul, and not one of those failed episodes of plastic surgery where a few things are tucked in. Convert your RTGS earnings into another stable currency. I would say the USD is quite stable but it’s not a one size fits all and you have to be well informed with the activity in the financial markets. Also call some finacially savvy friends for advice. If you have been doing this, great job and more power to you girl. Keep at it!

Let’s delve into real estate. This is the best possible way to preserve your bond notes in my opinion. There’s a few options for you, you can either build, buy or renovate a building. This can be an investment property that you can lease out and get rentals from. That steady inflow of income allows you to save and eventually invest in more properties or launch that business idea that you have been sitting on. Owning property also makes it easier for you to access loans as it can be the surety that you can put down. Like everything else we do,just don’t rush into anything. Research that business venture, payment terms for the loan and other factors that could contribute to your success or failure.

Phew! Now you’re probabaly wondering what to choose or were to put your money? The good news is you don’t have to put all your eggs in one basket. You can diversify and spread out your risk in case things don’t turn out as planned.

Girl, I have barely scrapped the surface of the many ways you can try preserve value, but I hope these few ideas have got your thinking wheels turning. Whatever it is you decide to do, do it whole heartedly. A year from now you will be glad you started when you did. Happy saving 😊 till next time

Rumbidzai Chiome is an accountant who is currently working as a risk consultant. Rumbi is keen to continuously learn especially on finances, she’s a strong advocate for living impactful lives especially in all our spheres of influence. She has recently discovered a love for writing short unpolished articles😊

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