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Risk or Reward: Decisions Worth Making this Year 2021

2020 has ended and we are finally at the pinnacle of a brand new year. 2021, as many people hope, may be the fresh start that we’ve all been craving for. Things, didn’t exactly go as planned last year, as a matter of fact, nothing went according to plan at all. COVID-19 came by and the world experienced a crisis like never before. People lost their jobs, many lost their loved ones, and the economy has never been as tarnished as now. Even up to this day, we are all still clinging on to hope, crawling our way up towards a full recovery. For those who lost their jobs, the goal of finding employment is still within reach. For those who lost a loved one, the process of recovery is still an ongoing effort. And last but not the least, for all of the countries affected by the virus, the economy is currently shifting towards a more resilient condition, albeit a more cautious outlook than before.

Indeed, these things may make us doubt the certainty (or the opposite thereof) of our future. The current pandemic is a darkness that we weren’t even prepared for, and the fight against COVID-19 isn’t even over yet. But due to the fact that it is now the year 2021, the prospect of facing a brighter tomorrow is just around the corner, and the possibility of a much better life is something that we’d all love to experience. Many of us may be still be limited by our current situation, but the courageous few are still ready to take on the challenge of acquiring that success amidst a much complicated economy. You might be thinking, “Is it worth the risk? Would it be safe to try out new ventures during these trying times?” These questions, believe it or not, may be answered by a definite “Yes!” However, you should analyze your current situation. Check to see if you still have “something left in the tank,” if you’re willing to go the extra mile to prove that you may achieve more in life even during the pandemic. If you are still undecided, we have a few suggestions and ideas that may help you decide.

  1. Should I try looking for a new job?
    We may separate this into two categories, for the people who lost their job during the pandemic and the people who were able to retain it, yet, would like to progress with a better job. Let us talk about the first category. It is understandable for people to look for a new job if they’ve been laid off, especially if they have a family to support. While others have the luxury of taking a few months off after being fired, many do not share the same standing in life. A job stable job would be the difference-maker when it comes to having food on the table versus struggling to feed your loved ones. Of course, we would all like to go for the former instead of the latter, but once you find yourself at the most disadvantageous side of life, it might be time to look at the back page of the classified ads and check to see if you’ve missed any job openings. The good news is, you’d at least have various options with the advent of technology, with classified ads and job openings being posted on a daily basis within online forums. Don’t hesitate to go for a position which you haven’t applied for before, since a change in scenery may just be what you need. Don’t leave any stones unturned and watch your brighter future unfold.

    For the second category, it would be wise to check if you’d still manage even after quitting your current job. Our present economic standing isn’t going to do wonders for you as well, since our laid-off kababayans are also looking through the same classified ads, hence, the competition for a much better position is a bit tight. If your savings is already enough to feed your family for a few months, then by all means, go for it. But if your current budget would not permit you to live off even for a weeks, then perhaps you may stay put for now in your current job.

  2. Should I establish my own business for now?
    Again, this is divided into two categories, sharing a similar situation with that of the first pointer. The first category is for those who were laid-off and are in need of a new means to earn regular income. The thing about establishing a business is that you are not only motivated by the need to put food on the table, but you are also required to go for a business that you will love, otherwise, what’s the point? You’ll end up dreading and being too lazy to pursue that venture. Now, thinking of a business to establish during the pandemic wouldn’t be much of a challenge. No, the real challenge comes from your fellow laid-off kababayans who are also looking to have their own means of income. Think of a business that would set itself differently from the others. You need to be unique and creative about your venture, so feel free to go crazy with your ideas.

    The second category is a bit more carefree, in the sense that the business idea you’d have would be established and implemented while you are able to maintain a regular work schedule. Think of this business venture as a part-time job, an extra channel of income to add to those family savings. This is easier to execute since any mistake doesn’t spell the end of your monthly income (you still have your regular job, after all). As with the first category, be unique and creative about your business, something that would give your business its personality.

So, these are just a few examples of the major life-changing decisions you may make this year 2021. With all of these in mind, it may be no surprise that you’re looking for ways to further protect your family’s future and financials. The current pandemic has taught us to be vigilant and prepared, and indeed, it is a lesson we will put to heart even when the pandemic is over. If you’re still weighing your options, then look no further than Cebuana Lhuillier’s Microinsurance Services. It offers affordable insurance products that enable Filipinos to avail financial services and privileges that higher-income earners have easy access to. Aside from that, it also features innovative microinsurance products and services that promise to minimize the impact of distress and misfortune on one’s financial position. Feel free to visit your nearest Cebuana Lhuillier branch for more information.