6 financial lessons that 2022 left behind
Posted: Sat Dec 28, 2024 9:25 am
The crisis caused by the pandemic left many financial lessons, especially during 2022. It is a reality, although in the last decade the financial sector experienced different disruptive waves, promoted by technology.
As a result of both factors, a certain stabilization in global markets and their respective economies is expected by 2023. However, among the lessons learned from the pandemic, warnings of a recession loom.
Certainly, 2023 will continue to be the time of reinvention for the world. Instead, let's look at the following in detail:
6 lessons that 2022 left us in the area of finance
It is always a good idea to invest in liquid assets. Especially since they allow you to cover emergencies or severe market crashes . In addition, it is crucial when you are faced with major events beyond your control.
For example, there is the possibility of a recession or a worsening of the pandemic. In this context, one of the financial lessons that 2022 left us with gains strength: having enough money set aside in :
Both are used to cover several months of living expenses, emergencies or any unforeseen event; although this is not a limitation, as it is also recommended if you are close to retirement or are retired .
2. Rebalance your portfolio and investments
Learn-to-rebalance-your-portfolio-and-investments
The financial lessons of 2022 indicate that now is the time to rebalance your investment portfolio , especially given the record returns of stocks in recent years.
If you do, you can stabilize your returns going forward . But how can you do that? One alternative is to reallocate some money into slower-growing dividend-paying value stocks.
For example, a mutual fund or high-quality bonds.
3. Do not make decisions based on newspaper headlines
Making financial decisions based on an emotional response to fast-moving news reports is often a losing proposition, often because they are confusing and uncertain.
Instead, the financial lessons of 2022 agree that the best response is to stay focused and on track . While it may be tough on your nerves, it may also be the healthiest thing for your finances.
This is not about dismissing the seriousness of the headlines. Rather, it is about harnessing emotional intelligence as an important skill in business and finance .
4. Promote the use of financial services through formal channels
Many people around the world use financial mechanisms outside the formal system. For example, they withdraw all the money from their accounts and keep it at home or access informal credit mechanisms (lenders).
Therefore, it is imperative to have a financial system closer to the population to foster trust . To do so, the following actions can be implemented, in accordance with the financial lessons learned in 2022 :
Communicate and explain the benefits of accessing and using formal financial services.
To promote, through coordination laos telegram data with the supply, the simplification of financial and credit procedures, as well as their communication.
Encourage the population to compare products between different financial institutions and informal credit mechanisms.
5. Promote greater use of digital payment channels to replace cash
Use-digital-payment-channels
The crisis caused by COVID-19 served as an indirect mechanism to promote the use of electronic means of payment . As a result, it contributed to reducing the use of cash.
The goal is to consolidate and accelerate this trend. However, within the framework of the financial lessons that 2022 has left us , the following actions are recommended.
As a result of both factors, a certain stabilization in global markets and their respective economies is expected by 2023. However, among the lessons learned from the pandemic, warnings of a recession loom.
Certainly, 2023 will continue to be the time of reinvention for the world. Instead, let's look at the following in detail:
6 lessons that 2022 left us in the area of finance
It is always a good idea to invest in liquid assets. Especially since they allow you to cover emergencies or severe market crashes . In addition, it is crucial when you are faced with major events beyond your control.
For example, there is the possibility of a recession or a worsening of the pandemic. In this context, one of the financial lessons that 2022 left us with gains strength: having enough money set aside in :
Both are used to cover several months of living expenses, emergencies or any unforeseen event; although this is not a limitation, as it is also recommended if you are close to retirement or are retired .
2. Rebalance your portfolio and investments
Learn-to-rebalance-your-portfolio-and-investments
The financial lessons of 2022 indicate that now is the time to rebalance your investment portfolio , especially given the record returns of stocks in recent years.
If you do, you can stabilize your returns going forward . But how can you do that? One alternative is to reallocate some money into slower-growing dividend-paying value stocks.
For example, a mutual fund or high-quality bonds.
3. Do not make decisions based on newspaper headlines
Making financial decisions based on an emotional response to fast-moving news reports is often a losing proposition, often because they are confusing and uncertain.
Instead, the financial lessons of 2022 agree that the best response is to stay focused and on track . While it may be tough on your nerves, it may also be the healthiest thing for your finances.
This is not about dismissing the seriousness of the headlines. Rather, it is about harnessing emotional intelligence as an important skill in business and finance .
4. Promote the use of financial services through formal channels
Many people around the world use financial mechanisms outside the formal system. For example, they withdraw all the money from their accounts and keep it at home or access informal credit mechanisms (lenders).
Therefore, it is imperative to have a financial system closer to the population to foster trust . To do so, the following actions can be implemented, in accordance with the financial lessons learned in 2022 :
Communicate and explain the benefits of accessing and using formal financial services.
To promote, through coordination laos telegram data with the supply, the simplification of financial and credit procedures, as well as their communication.
Encourage the population to compare products between different financial institutions and informal credit mechanisms.
5. Promote greater use of digital payment channels to replace cash
Use-digital-payment-channels
The crisis caused by COVID-19 served as an indirect mechanism to promote the use of electronic means of payment . As a result, it contributed to reducing the use of cash.
The goal is to consolidate and accelerate this trend. However, within the framework of the financial lessons that 2022 has left us , the following actions are recommended.