Coronavirus: How To Safeguard Yourself And Your Finances

This post is not about the death cases as a result of the coronavirus, the internet is full with that already. With the level this pandemic is going, being extremely careful with our health and wealth becomes the ultimate goal.

Before anything else, our health is our priority. When we say health is wealth, now is the best time to live by that saying.

Since 2019 when the outbreak was first recorded in China, things have not been the same again for the world, our world. It’s sad. Many have lost their loved ones and so many others are at the brink of death as we write this.


Our hearts go out to everyone this disease has affected in one way or another. God willing, we will see through this too.

Here’s How It Spreads (Be Careful)

This infection is often transmitted by:

  1. Close contact with the affected person
  2. touching your eyes or mouth after touching objects already touched by an infected person
  3. the air from an infected person’s coughs or sneezes

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Here’s a better demonstration of how coronavirus spreads:

  • Kitty got infected yesterday but she won’t know until 14 days.
  • Kitty thinks she’s healthy and is unknowingly infecting about 10 persons per day.
  • These 10 persons think they’re ok, they go out, meet about 100 people and unknowingly infect them.
  • These 100 people think they’re healthy and keep infecting others.
  • And then the number keeps increasing.

The bottom line?

The best preventive measure against the spread of the virus is through self-quarantine.

As at the time of writing this, 40 cases have been recorded in Nigeria, and with the way a large portion of the population are going unbothered about this epidemic, extreme measures become absolutely necessary.

Remember, your life comes before any other thing. It is when you live that you can think of your business, your finance and other stuff. So staying safe should be your priority now than ever.

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How To Stay Safe And Avoid the Spread of Coronavirus

While the Nigerian government are trying everything to make sure we are safe, you should also play your part. A self-isolation guide has just been released by the government, here’s the message:

  • Do not go closer than 2 metres (5 feet) to anyone.
  • Stay in a well-ventilated room.
  • If you have to work, do it from home.
  • Have adequate supplies of food, water, toiletries, medication for existing ailment and other necessities.
  • Cover your nose or mouth with tissue or elbow when coughing or sneezing.
  • Immediately dispose of used tissue in a covered bin.
  • Wash your hands with soap and water. If not available, use an alcohol-based hand sanitizer.
  • Clean and disinfect frequently touched surfaces such as door handles, furniture, etc using household disinfectants.

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One of the best ways to stay safe is to make sure your source of information about the virus is credible. Avoid reading, watching or listening to fake news about covid-19. If you do so, you won’t only be doing yourself great harm, you’d be doing so to many others.

In Nigeria, one of the most reliable sources of information about the coronavirus epidemic is the Nigeria Centre For Disease Control (NCDC). Here’s how to get the latest info from them regarding the covid-19 situation. Connect with them via these platforms:

Now that we’ve talked about how to safeguard yourself and stay safe in this crisis, how about your wealth, your finances?

While the rest of the world is putting in place drastic measures to ensure their citizens comply with the stay-at-home order, we cannot be sure of the same measure being very effective in Nigeria.

The reason is simple. Many Nigerians are low-income earners and a large chunk of them earn on a daily basis. This means that if they don’t go out for a day, not to talk of a week or even a month, several people will starve to death.

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So the question is, what palliative measures the Nigerian government are putting in place to really ensure that they’re not sending Nigerians to hell by asking them to stay at home?

We understand that the Nigerian government has recently lowered the pump price from N145 per litre to N125. But is that enough?

How about opening more testing centres? How about distributing thousands of face masks and hand sanitisers the way they usually distribute flyers during electioneering campaigns?

When we realise that we lack steady power supply, we would begin to ask whether or not staying at home is not like asking too much from the people, most especially those who cannot afford 3 square meals a day let alone a generator or even the internet.

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Enough of what the government can do for you, here’s how you can manage your finances during this coronavirus epidemic:

How to Safeguard Your Finances this Period

1. Spend less

There is no better time to cut your coats according to your clothes. If you have already started working from home or you’re still contemplating it, you should minimize your spending. The coronavirus epidemic is real and with 40 cases already declared in Nigeria, you shouldn’t be more careful with your spending. Buy spend on only the things you need and avoid spending on what you think might be useful later.

2. Stop monetary investment

If anybody comes to you for any investment opportunity this time, run. It’s not safe. Everybody is sacred. In times like this, you should be careful with the kind of deal you enter into. So to avoid stories that touch, remove every thought of investing your money in anything this period of covid-19 outbreak. It’s called playing safe.

3. Stay positive

No matter what, keep a sane mind. You need that now more than ever. Try to engage your mind with positive vibes, there’s just too much negativity out there. Remember, it’s only the living that spends money. Be calm and be hopeful things will get better soon. Nothing lasts forever, this too will pass.

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So far, we’ve taken a look at some of the important things you should know about the coronavirus epidemic. We also talked about covid-19 current situation in Nigeria and the government’s effort in preventing the spread.

But what is most important in all of these is how you handle the situation. And the first step is to know that coronavirus is real.

The Last Line

Coronavirus or covid-19 is disrupting every aspect of our lives: how we see online businesses, how we value global connection and most importantly, how we’ve come to the reality of our humanity. But no matter how long this lasts (we hope it ends already), you should always play safe by obeying injunctions from the authorities while ensuring your finances are also in good shape.

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