The lockdown because of COVID-19 has impacted the world economy very much and so individuals are suffering too. Here are 7 financial lessons the COVID-19 crisis has taught us.
1. Overconfidence leads to poor financial decision-making
2. Everyone needs an emergency fund
3. Developing multiple streams of income is more important than we realized
4. Debt stinks
5. Saving for retirement is not for the faint of heart
6. Financial margin is key
7. Generosity changes lives