Tips & Tricks to save money amid the Corona Virus outbreak
It is not a hidden fact that the entire world economy is facing the brunt of this Chinese virus or better known as Covid – 19. The Virus apparently took birth in the live animal market of Wuhan, created a pandemic all over & halted the world. The most dangerous part of this pandemic is it stays suspended in the air & can be caught easily by any host. All government agencies and task forces are working round the clock to stop spreading this virus and break the chain. Technology is has been a blessing here as offices have been locked down but employees are able to work from home. Almost all affected cities which have been affected are locked down now and observing social distancing & isolation. Amid all these coronavirus impacts, the financial crisis is the most. Markets are just a blood bath, all stocks running in red & investor’s money going down the drain.
The world has experienced such crash before as well like in 2008 – 2009. A little management will do the trick as said extraordinary times calls for extraordinary measures.
Since all places are locked down, except for banking and other essential services, one must try best to utilize the online services as much as they can like online payments, transfers, etc. so as to avoid all forms of outing
and gatherings.
- Try to re-assess your budget and monthly spending. Check your taxes.
- The reds evident over stocks is not a result of some financial breakdown or loop. It is the result of some services which have been stopped deliberately to stop spreading this virus more like flights etc. This is a temporary phase that will get over soon. One should panic seeing his / her investments in minus.
- Try contacting your financial consultant to understand the markets & how to reduce the risk.
- If required try to put your investments in Liquid funds.
- Try to go by the terms of your health insurance & family floaters to check whether they cover such contagious spreads or not.
- One should not spend over in such times. Avoid spending on non-essential items and save the max.
- Stay abreast of news related to this pandemic and how to stop it.
- Stay clean & calm.
- Get you’re self-tested in case any symptoms are shown over your body
- Wash your hands properly & use sanitizers as & when required.
- Avoid touching your eyes nose or face with your hands.
- Avoid social gatherings
- Stay home and invest this time in some productive work which you are unable to be during normal days like money-saving tricks or money management to our kids.
- Eat clean & healthy.
Remember, this is just a phase that shall get over! One should not panic & spread any rumor. Stay alert and try helping the ones in need. This is something which we all as the human race need to fight together & stop. Together can & we will!
