How To Manage Financial And Investment Planning During Covid-19

The impact of the coronavirus pandemic (COVID-19) has led to several occurrences all over the world. No one prepared for this but everyone is making an effort to survive this period of uncertainty which is truly commendable! One of the ways by which COVID-19 has affected humanity, besides claiming lives, is the impact on our economy. Many have lost their jobs as a result of the outbreak while a lot of businesses were closed as a means to curb the spread of the virus. On an individual level, the impact of the virus has affected the income and savings of many Malaysians.


Only those that can work from home can think of saving during COVID-19 [1]. Those who are not so lucky have used up their savings and emergency funds to take care of family needs. Of course, taking care of yourself and your family is the utmost priority. However, managing your finances during this period is also very important.

The threat of the coronavirus will subside one day, and the world will return to its normal state. What will life be for you after the pandemic? We are aware that the outbreak has created a downturn in the economy, but historically, we’ve seen the economy recover from declines and continue to grow [3]. It might take time, but only wise investors in Malaysia see opportunity in every disappointment. While many have lost during this tumultuous period, it may interest you to know that a lot of people in Malaysia are making serious investment plans. Here are some do’s and don’ts to help manage your finances and increase it with quality investment planning.


1. Review your financial goals

Times have changed, and so should you. You may have a dream to buy the latest Mercedes-Benz GLA-Class at the beginning of 2020. Now, this unexpected event must have affected your financial plans. It would be wise to review your goals and instead invest the money in properties for the next few weeks and months.

2. Save more

Saving is a crucial part of financial investment. Some people are lucky to work from home and get paid taking this as an opportunity to save more. Working from home is a saving of its own. Helping you cut down expenses such as food, transportation, travel, and other nonessentials, while you save more.

3. Invest in the Malaysia property market

The COVID-19 has led to increased stock market volatility. Choosing to buy top property in Malaysia during this time of crisis is a great option right now. Unlike other forms of investments, property increases in value and never depreciates. Since there will always be a need for housing, the Malaysian property industry will always be a strong investment opportunity. Why?

1. Property is the best way to make a substantial profit from a small investment.
2. There’ll always be demand for properties.

There are newly launched properties in Malaysia ready to be sold by the owners. Some of these properties are sold at reasonable prices that property investment beginners can take advantage of. Whether an individual wants to purchase a house to live in or rent to tenants, this period is the best time to own a top property in Malaysia. The sustained demand for property demonstrates a high potential for investors. Large businesses that are financially upright are also affected during this period as they depend on demand and supply chains returning to normal before they can get up and running again. With property in Malaysia, it is different. The cash flow is stable.


While COVID-19 continues, most investing individuals are attracted by the financial security provided by investing in property. However, to invest in property, it helps to be educated in the process and have some knowledge about financing a property, buying and selling property, as well as the legal aspects. Beginner investors in Malaysia should evaluate their investment plans and know what it takes to secure financial independence through property investment. There are several newly launched properties in Malaysia that you could invest in. For more information, get in touch with us for a free consultation.

References
1. https://www.rockethq.com/learn/personal-finances/how-to-maintain-financial-health-during-the-covid-19-situation
2. https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-COVID-19-managing-cash-flow-in-crisis.pdf
3. https://www.getsmarteraboutmoney.ca/resources/covid-19-and-your-money/the-covid-19-outbreak-and-your-investments/

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