No, not Covid-19! 3 weeks ago, I had an instructive experience involving a short visit to our local Accident & Emergency department.
Having not taken avoiding action with a fast-moving large dog, I found myself saying to a concerned stranger “Thanks, I’m fine…” after been knocked over and hitting the back of my head. I also landed on my right elbow and still have the scars to prove it. Of course, I am fine, this is just a minor inconvenience, but we can all learn by our mistakes, and what have I learned?
The “pain” involved in not using your right arm because it hurt to bend at the elbow. This meant shaving with my left hand, and bathing with one arm outside the bath. Shower? No chance. I also discovered I have never removed the bath plug with my left hand before. Who knew?
Having suffered only the mildest of concussion (but the back of my head is even less pretty than it was) I was dutifully checked over at the hospital and the “quite deep cut” was dressed up nicely. The fact I can still take a selfie illustrates this was not an emergency. But I still had to make adjustments.
This seems pathetic now, doesn’t it?
We have now had the biggest disruption to our world we have ever known, or as we may call it – ever.
My tiny mishap and my response to the Covid-19 restrictions we now live with have something in common: these are painful times we are going through. The human cost of Covid-19 should not be underestimated. The numbers could be a major natural disaster EVERY day. Many more people are experiencing great inconvenience at the least.
Money wise, stock market movements reflect the uncertainty.
My superficial wounds have healed, and I have spent the recent weeks handing a bigger change – training, coaching and working online. Its not painful, but it is necessary, and I miss meeting people face to face. A small price.
Whatever change you are dealing with this week; I hope are keeping well, and in good spirits to handle the new world we inhabit.
If you would like to join me in my virtual world, click the link below….
Phils Finance Thoughts Online! Thursday 2nd April 9.00am BST
https://zoom.us/meeting/register/upMqc-usqzoptSxR42FK1ekYwjicUD7eAQ
Buzzwords of the Week –Interest Cover
Definition – A company’s operating income before tax divided by the interest it has to pay on loans and overdrafts. A measure of the solvency or stability of the company, and often a lending covenant (a condition of lending being the company agrees to maintain interest cover of say 4 times)
Alternate View – for huge amounts of time this is insignificant BUT where you have high gearing (large amount of debt in relation to equity, sometimes to assets) you need to keep an eye on this. Remember a breach of that pesky covenant could see demand for immediate repayment of borrowing. And if that cannot be done – it could be administration, or liquidation. In other words, bust.