• thebetterinsuranceguy

The Pandemic Millionaire




1. Financial literacy

Simply put, financial literacy is understanding how money works to the point that you are confident in planning ahead how to use your money to your advantage1. The benefits of ‘money know-how’ can be summed up in our previous article ‘What does it mean to be Financially Literate’. Whatever the source of money, earned or given, it must be managed prudently to protect oneself from poverty and financial insecurity. We seek to encourage you to refresh your mind and make the most of the current stimulus checks and any other money you may have to spare.

2. What is the Pandemic Millionaire?


As strange as these times that we live in may be, there are some financial rules that still apply. It is no secret that reducing costs is a sure fire way of releasing some cash to channel towards your financial goals. Another rule that has not changed is that one must have said financial goal. Therefore, the purpose of this article is to inspire a sense of possibility of setting a big goal as if you were a millionaire in the making.

3. What sets apart Pandemic Millionaires from everybody else?

Pandemic Millionaires consider the ‘Time Value of Money’ principle which states that individuals value a given amount of money more highly the earlier it is received2. This is incredible if you consider the value of a stimulus check that was paid out to your account, and the possibility of using that money today to diversify your income leading to future cash in-flows. The only way to see a possibility of future cash in-flows is to act with today’s money with tomorrow in mind.

4. Embracing uncertainty. You are alive after all.

It must be said that the purpose of the stimulus check and notwithstanding unemployment checks was to ease the hardship caused by lockdowns and the loss of employment. Stimmys, as they are called, were mostly used up for short-term financing meaning, paying for living expenses or clearing up debt3. With a refreshed mindset, one can see that this is not sustainable4. Bills will always need to be paid and times will never ever be certain. All we can do is embrace uncertainty and adapt to survive and thrive. After paying off bills, your costs have been reduced but that does not translate to ‘invested money’ it simply remains as ‘spent money’.

5. Here is how to take advantage of your check and spread it far and wide.


Before spending, it is essential to always strategize in order to avoid straying from your financial goals. This gives you a laser focus on where your spending for the future should be directed at. Take for example, creating a savings account as a start. Although the current interest rate stands at 0.25%, if you commit yourself to adding at least $10 a month to your savings account, you will see the benefits of compounding your money5. If you are ready for a bigger thrill than compounding, then read about the following success stories below.

Success stories.


  • Pam Yip and Jenny Le are two Melbourne girls who turned the bitter tea of losing their jobs during COVID into a $2M dollar company within 12 months - all thanks to their genius idea of selling DIY Bubble Tea making kits online.

These are two stories that we believe show how knowing what to do with money can help elevate you to a higher station in life. Never give up or stop trying, and just know that here at The Better Insurance Guy, we strive to equip you with the know-how on using your money towards building a Pandemic Millionaire mindset.

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