COVID-19 and Finances

Dear Self,

My reflection for today on this crisis will revolve around its impact on finances.

This is not a topic that I am well-versed at, obviously. I actually know nothing about economics and finance. My dad incessantly nags me about this, since he is a master when it comes to these matters. Haha.

I was having a chat last night with a friend from the entertainment industry. All the shows he had lined up have been cancelled. And because of the nature of his job, he doesn’t get paid.

That is just one story. There are many more, obviously, of people’s income being severely affected by this crisis. One of the things we realize in these situations is that when we are forced into a position of survival, hospitals and supermarkets are the only places we really need to go to, haha. Oh, and of course, funeral services – but that’s being a little too morbid. All other industries, particularly those associated with leisure and entertainment, are the first to go. Flights, hotels, concerts, broadway shows (huhuhu), sporting events – they all take a big hit.

People have it wrong for doctors, too, of course. First of all, we don’t really earn billions, to begin with. During crises such as this one, our incomes are also severely affected. Outpatient clinics are closed, admissions are lessened since COVID-19 patients take priority, elective surgeries are cancelled. For us, in pathology, if surgeons don’t operate, we don’t get specimens either. If pulmonologists don’t do bronchoscopies or radiologists don’t do biopsies, then there’s nothing to read.

I don’t know what the point of this post is, honestly. I guess it’s just a little bit of a sobering thought that since this situation is likely going to extend for maybe half of the year at best, I’m wondering how prepared people are for the long haul – financially or otherwise.

Sincerely,

Lagundi