In moments of great uncertainty, we often wonder about the security of our assets and the financial health of our households. As part of a lineage of jewelers who have been in business since The Civil War, we at Diamocycle know that times of turmoil can create much emotional instability and financial insecurity. With that in mind, we offer you the following framework to help you assess the financial health of your family and the best steps to take to ensure a successful few months during this unprecedented time.
Step One: Assess Your Financial Situation
Many companies and workers are beginning to work from home. If this is a luxury that is afforded to you, it is likely that your business and your livelihood will be able to continue uninterrupted during this global epidemic. If you are unable to continue earning during this period of public health risk, figuring out how to financially cover you and your family is of the utmost importance.
Step Two: Make a Plan
Given that COVID-19 will spread at an exponential rate, preparation to protect you and your loved ones is essential. Stocking up on a month’s supply of toiletries, medicines, and groceries is ideal. Continuing good hygiene habits such as washing your hands and not touching your face is ideal, as is beginning to take precautions around social distancing.
If your financial picture is not in a place where you feel secure for a several weeks of uncertainty, it is worthwhile to examine how you can support your family and supplement your income, such that you can weather out this strange period. Applying to federal emergency funds, assessing your potential assets, and beginning to create local support networks are all ways to create a new layer of social stability during The Coronavirus Epidemic.
Understanding the uncertainty of the moment, we are more than happy to offer a contingency quote to you regarding your piece, such that if, need be, you would be able to use your assets to better support your family and those around you.
We suggest understanding at what point it makes best sense for you and your family to stock up, access reserve funds, or ask for help for those around you, and until you reach that point, we strongly suggest practicing good hygiene, staying calm, and digitally reaching out to support those around you.
Step Three: Act
Until the conditions outlined in your plan have been passed, stay calm, pleasant and supportive of those around you. Pay attention to changing conditions. As things change, you will more fully understand the situation and when to proceed with your Coronavirus plan. Until your area has reached a noteworthy level of infection, we advocate practicing social distancing, and beginning to create the habits for good hygiene and a low risk of contamination. While we hope your area remains clear of Coronavirus, it never hurts to have a plan.
We at Diamocycle think of our customers as family. If there’s ever anything we can do to help you assess your financial situation, the need for a sale, or offer support in times of uncertainty, we’re more than happy to help.