Various countries had handled the coronavirus situation with varying degrees of success (or failure).

As we see many countries easing out of their lockdown, let us look at a few examples and draw parallel lessons in personal finance, after all, I am here to talk about finance, not on infectious diseases nor government policy responses.

Learning From What Went Well

#1 Accurate Assessment Of Your Financial Situation

With 15,000 tests conducted a day, all of it given free of charge, South Korea’s testing program was the reason for its successful response to the coronavirus situation.

The mass testing allowed South Korea to identify a large cluster from the Shincheonji Church of Jesus as the source of infections which had caused a massive spike in cases reported.

This insight allowed them to target quarantine and disinfection efforts and send medical resources to the affected areas. The focused efforts paid off, and South Korea was able to reduce its cases drastically.

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