This Is What 2020 Taught Us About “Futureproofing”

This Is What 2020 Taught Us About

(NewsReady.com) – If there’s one lesson businesses and individuals should carry with them after the pandemic is over, it’s the importance of futureproofing. That’s when you anticipate an issue that might come up later and design plans (or products) to address a need.

Arguably the most important lesson to take with you moving forward has to do with finances. Everyone, whether you’re an individual, small business owner, or CEO of a Fortune 500 company, must take control of their debt and finances. When COVID-19 struck, many companies shut down and went out of businesses because they did not have enough money in reserves to keep paying their overhead. Likewise, that also led to people who didn’t have emergency funds falling into poverty.

Remember, you want to have enough money in an emergency account to cover at least three to six months of your expenses. The more you have tucked away, the better position you’ll be in just in case something like this happens again.

Copyright 2020, NewsReady.com