Quarantena...
Recently Patrick O’Shaughnessy had Boyd Varty on his podcast to talk about a journey he was about to embark on. Boyd was about to set out into the South African bush for 40 days and 40 nights. If you are interested he is chronicling his journey in his podcast “Track Your Life”
Boyds explanation for this journey struck me and I think it can help put this historic time into perspective especially if you break it down into three steps.
Quarantena is a Venecian word that translates to 40 days and 40 nights and refers to among other things the time that Jesus spent in the desert described in Matthew 4: 1-11.
Jesus spent this time fasting and praying and went through a period of temptation by the Devil.
The past couple of weeks for some have felt like wandering through the desert. This Virus has taken its toll on small business, the stock market, people’s health and created a tremendous amount of uncertainty.
As I read the account of Jesus’ time in the desert and compare that to Boyd’s goal in the African bush, I notice a cycle that many of us are going through. The good news is there is good news at the end.
The Cull- This is a process by which we peel back the excesses in our lives. Phrases like, “I’m not giving my time or money to that.” Like a diet, this can have benefits but be careful the next phase can knock you off course and set you back further than where you started.
The Temptation- As you are emerging from the “Cull” phase and things return to prosperity the temptation is to forget the tough times. Be careful.
The Growth- If we approach this period with the requisite reverence and respect especially at our age the results could be life changing. This period has forced us to alter not only our schedule by our entire families and take a hard look at how our money is being spent.
Greg Surratt, Pastor at Seacoast Church in Mount Pleasant puts it this way. “If you are walking through the valley, pray and keep moving, if you are on the mountain top be thankful because the valley is inevitable.” The truth is 40 days and 40 nights is not a one time event but a constantly evolving cycle.
We will emerge from this cycle, businesses will slowly return, employees will return to work and schools will reopen in due time. How and the timeline for this to happen is the unknown which is what causes uncertainty.
The question becomes what should you be doing with your finances?
The worst case scenario should at least be considered. These are unprecedented times. Every chart from employment numbers, to earnings, to TSA Checks are cartoonish. Jobs that could be perceived as secure are now on the cutting board. Your job could at least in the short term be furloughed or eliminated. Most CEO’s are doing their best to mitigate the damage and the US Government to their credit have put in place guardrails to create a safety net.
This is not a time to panic but to plan.
Where would you pull assets from if your income were eliminated or reduced?
What debts need to be eliminated?
What variable costs could be or should be eliminated to free up cash?
If we cull properly during this time history shows that we will emerge with scars but stronger for the future and better prepared for the next valley which is inevitable.
Take the Long View!
PK