It's not over.

Our ordeal against the coronavirus pandemic continues as Melbourne rushed to implement a lockdown in hopes of containing, if not flattening the curve. But we're not alone.

Around the world, cities are also being brought back to a lockdown amidst the resurgence of COVID-19 cases dubbed as the 'second wave.' And just like us, world economies are haunted by one question: how will they ever recover?

As the world population continues to age, more people are becoming a part of a population vulnerable to the coronavirus. Despite that, life goes on and the prospect of a comfortable retirement is still something that many is looking forward to. How is our pension plan doing? And how does it compare to the rest of the world?

For investors, the pandemic has posed a real threat when it comes to investments. The impact of the coronavirus is indeed evident as known retailers, hospitality service providers and tourism operators shut down due to declining revenues. So a good question to ask now is: how will your risk tolerance help you during this time?

Just like investors, homeowners also have a decision to make. This time, it has something to do with their home loans. Stimulus money has been released in the previous months, with a goal to spur household spending. And now, banks are on the move in order to encourage customers to continue paying their home loans. Is this a good time to fix your home loan?

With the unemployment issue plaguing the country, many are prompted to revisit their household budgets in order to keep the cash flow stable. As people do that, they look for ways in order to minimise their expenditures, including late fee payments. What can you do to avoid these fees?

Finally, visualising your financial goals is an advantage you have if you are to successfully tide through the pandemic. If you haven't set goals now, you can get started with a vision board. You can learn how to do that in the article below.

As confusion and uncertainty reign, financial literacy is paramount if you are to survive. People who are educated about money have more advantages than those who don't when it comes to keeping their finances in check and being responsive to the impacts of the pandemic. If you ever need help, please do not hesitate to get in touch with me.

In the meantime, you can learn from this month's selection of articles below.

Be financially literate.

Gavin Glozier, AdvFP
CEO & Principal Financial Adviser
P 1300 763 498 • M 0408 155 140
Level 33, 264 George St NSW, Australia
Life the life you want to live.