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  • Whether Orr Not Covid 19 Impact On The Financaial Mindset of Each Indivisual

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    Nguyễn Đạt
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    The COVID-19 pandemic has caused widespread economic impacts and changed individuals' financial mindsets. Major events like the rapid 30% drop in the S&P 500 index in early 2020 and job losses affected people's money habits. The pandemic showed people the importance of having an emergency fund, adequate health insurance, and avoiding debt to better prepare for potential crises. It also highlighted the need to diversify investments. These changes to individuals' financial planning may help them better handle future pandemics or economic downturns.

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    WHETHER-ORR-NOT-COVID-19-IMPACT-ON-THE-FINANCAIAL-MINDSET-OF-EACH-INDIVISUAL (1)

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    The COVID-19 pandemic has caused widespread economic impacts and changed individuals' financial mindsets. Major events like the rapid 30% drop in the S&P 500 index in early 2020 and job losses affected people's money habits. The pandemic showed people the importance of having an emergency fund, adequate health insurance, and avoiding debt to better prepare for potential crises. It also highlighted the need to diversify investments. These changes to individuals' financial planning may help them better handle future pandemics or economic downturns.

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    © All Rights Reserved
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    12 views4 pages

    Whether Orr Not Covid 19 Impact On The Financaial Mindset of Each Indivisual

    Uploaded by

    Nguyễn Đạt
    The COVID-19 pandemic has caused widespread economic impacts and changed individuals' financial mindsets. Major events like the rapid 30% drop in the S&P 500 index in early 2020 and job losses affected people's money habits. The pandemic showed people the importance of having an emergency fund, adequate health insurance, and avoiding debt to better prepare for potential crises. It also highlighted the need to diversify investments. These changes to individuals' financial planning may help them better handle future pandemics or economic downturns.

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    © All Rights Reserved
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    of 4

    WHETHER OR NOT COVID 19 IMPACTS ON THE

    FINANCIAL MINDSET OF EACH INDIVISUAL?


    I.Sources:
    +Forbes: find the changes from lessons
    https://www.forbes.com/advisor/investing/covid-19-
    pandemic-investing-lessons/
    +SHRM:
    https://www.shrm.org/resourcesandtools/hr-topics/
    behavioral-competencies/pages/the-importance-of-
    financial-literacy-during-the-covid-19-pandemic.aspx
    +Springer: The Psychology (= mindset change) impact
    Payment Use
    https://link.springer.com/article/10.1007/s10834-021-
    09804-1
    +International Labour Organization:
    https://www.ilo.org/hanoi/Informationresources/Publici
    nformation/Pressreleases/WCMS_774498/lang--en/
    index.htm
    +OECD:
    https://www.oecd.org/coronavirus/policy-responses/
    tackling-the-mental-health-impact-of-the-covid-19-
    crisis-an-integrated-whole-of-society-response-
    0ccafa0b/
    +Goldman Sachs:
    https://www.ayco.com/insights/articles/what-covid-
    taught-us-about-personal-finance.html
    II.Plan:
    Introduction: (10%)
    - The rise of the global COVID-19 pandemic has caused
    economic repercussions (Arresting sentence)
    - State the actual situation of covid
    - From macro events that affect the money habits of
    each resident ( 1sentence)
    Paragraph 1: Major macro events that directly affect
    people's mind about money and their affect
    - The Political Economy of Economic Policy
    - From Feb. 19 to March 20, 2020—a span of 22 trading
    days—the S&P 500 fell 30%, the fastest decline ever.
    - FED monitor
    - The policy of reducing personnel in corporations
    - How these event effect ?
    Paragraph 2: WHETHER OR NOT COVID 19 IMPACT ON
    THE FINANCAIAL MINDSET OF EACH INDIVISUAL?
    - Yes, (why) peopel have to change their mindset and
    plan in the future to face with pandemic any time.
    -Changes:
    +Build an emergency fund
    +Diversify your investments
    +Adequate health insurance for you and your family
    +Negotiate with your lender on your loans
    + Avoid the debt trap
    -Pick the main changes:
    +Build an emergency fund
    +Adequate health insurance for you and your family
    + Avoid the debt trap
    Paragraph 3: Analysis these main changes
    _Compare and explain why
    Paragraph 4: Are these changes good and can people
    face a similar pandemic with these plans?
    _Compare with the past
    Conclusion (10%): Base on the Introduction

    References:
    https://www.oecd.org/coronavirus/policy-responses/
    the-impact-of-the-coronavirus-covid-19-crisis-on-
    development-finance-9de00b3b/

    Ref đoạn 2:
    (references: https://www.sciencedirect.com/science/article/pii/S2589537022000141)
    (references:
    https://corporatefinanceinstitute.com/resources/economics/2008-2009-global-financial-crisis/)

    Ref đoạn 3:
    https://www.reuters.com/business/retail-consumer/
    why-are-food-prices-going-up-key-questions-answered-
    2022-05-10/

    ref 4
    https://www.ayco.com/insights/articles/what-covid-
    taught-us-about-personal-finance.html

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