#605: The Money Moves You Should Make Right Now

#605: The Money Moves You Should Make Right Now

The shutdowns that have accompanied the COVID-19 pandemic have wreaked havoc on the global economy. Millions of people are out of work, businesses are cratering, and the stock market has tanked. Whether you've been hard hit by these effects or are so far weathering the storm yet feel uncertain about your future, what financial moves should you be making right now? To get some insight, I brought back personal finance expert Ramit Sethi, author of the book I Will Teach You To Be Rich. Since the pandemic started, Ramit has been hosting "fireside chats" on his Instagram account where he covers a financial topic pertinent to the pandemic, as well as answers questions from his community of followers.

Today we discuss some of the ideas Ramit's been hitting on during these chats as well as the common financial questions he's been fielding. I begin our conversation by asking Ramit why he tells people they shouldn't panic, but should overreact. We then dig into Ramit's advice for people who fall into different categories as to how the pandemic has affected them, beginning with survival strategies for those who are out of a job altogether. Ramit then shares the money moves people who do still have income coming in should make and why he's changed his tune on how much of an emergency fund you should have. We then discuss why now is a good time to find ways to earn more money and what investing should look like during an economic slump. We end our conversation with Ramit's advice on how to look for a job during a pandemic and what small businesses can do to adapt to the current climate.

Get the show notes at aom.is/pandemicfinances.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Episoder(1158)

You’ve Been Pooping Wrong — Here’s How to Do It Better

You’ve Been Pooping Wrong — Here’s How to Do It Better

Pooping. Everybody does it, but a lot of people are embarrassed to talk about it. That's a shame, my guest says, not only because your digestive health is incredibly linked to your overall health, but...

7 Apr 49min

The Mystery of Courage

The Mystery of Courage

Courage is one of our most prized and celebrated virtues. But once you really start exploring it, the nature of courage is surprisingly hard to pin down.Here to help us explore the fascinating complic...

31 Mar 56min

The Mental Skills for Becoming an Everyday Genius

The Mental Skills for Becoming an Everyday Genius

We tend to think of genius as something you’re born with — a rare trait possessed by the Einsteins and Teslas of the world. But what if many of the abilities we associate with genius — a great memory,...

24 Mar 49min

The Hidden Power of Heat — How a Good Sweat Heals Your Body and Mind

The Hidden Power of Heat — How a Good Sweat Heals Your Body and Mind

Cold exposure has gotten a lot of attention the past few years, with people dunking themselves in ice baths for the sake of their health and well-being. But, good news here, exposing yourself to heat ...

17 Mar 47min

The Invisible Limits Holding You Back (And How to Change Them)

The Invisible Limits Holding You Back (And How to Change Them)

When we fail to make desired progress in life, most of us put the blame on physical and environmental limits. But my guest says that what's really holding people back is what's in their heads.Nir Eyal...

10 Mar 51min

The Power of a Purpose-Driven Life

The Power of a Purpose-Driven Life

When it comes to building a happy and meaningful life, most of us rely on a grab bag of strategies — habits and goals around work, relationships, and health. But my guest today would argue that in the...

3 Mar 53min

Born to Carry — How to Build Strength, Stamina, and Sanity Through Rucking

Born to Carry — How to Build Strength, Stamina, and Sanity Through Rucking

If you're looking for a way to improve your fitness, boost your mental health, and reconnect with a deeply human activity — all without going to the gym or pounding your knees on a daily run — then ru...

24 Feb 51min

How to Have the Conversations You’ve Been Avoiding

How to Have the Conversations You’ve Been Avoiding

The awkward silence at work when everyone knows a project is going off the rails.The simmering resentment in a marriage over an issue neither spouse will confront.The dysfunction in a church where cer...

17 Feb 48min

Populært innen Fakta

fastlegen
mikkels-paskenotter
dine-penger-pengeradet
relasjonspodden-med-dora-thorhallsdottir-kjersti-idem
foreldreradet
treningspodden
rss-strid-de-norske-borgerkrigene
jakt-og-fiskepodden
rss-bisarr-historie
hverdagspsyken
tomprat-med-gunnar-tjomlid
sinnsyn
level-up-med-anniken-binz
gravid-uke-for-uke
rss-kull
rss-kunsten-a-leve
fryktlos
takk-og-lov-med-anine-kierulf
hagespiren-podcast
rss-bak-luftfarten