Right now, the government-enforced community quarantine will be in effect until April 12. However, don’t discount the possibility of extension. Regular expenses will not be a problem if you have enough in your emergency fund. For situations like this, it should be those savings and not loans that you should be spending.
The rule of thumb is, sell when the market is high and buy when it’s low. Many cash positions are doing well right now because of investment assets getting increasingly cheaper. You are not helping anyone by hoarding and panic buying. You are making goods more expensive and depriving others of necessity. Having more than you may need may also lead to spoilage and money wasted.It’s time to refinance if you have high-interest bearing loans. I’ve done this before with my sister, who had a mortgage loan. During the 2008 global financial crisis, we were able to bring down her per annum interest rates from 7% to 4%.
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