Guide to navigate tough times financially

Conserve Bank Balance and hold cash as much as possible. Keep expenses at minimum

Prepare mentally for a pay cut or a job loss or bench job with reduced pay. Use that time to improve your skill set and come out mentally stronger. Don’t hesitate to seek help from experienced people

Avoid borrowing even from friends or relatives. Switch to debit card for optimum spending.

In case unable to pay credit card dues, opt for moratorium or switch your credit card dues to personal loans (available at lower interest rates)

Make a mental list of assets which can be liquidated if required and decide the order of liquidation in case of mishap. It can be gold, equity funds, artwork etc. Remember these material things can again be bought in Good Times. These are the times when your life your precious one’s life & well being is most important.

Keep looking for opportunities in your job and life which can spring up in this time of crisis.

Discount extreme theories of pessimism and optimism. Keep your head cool and high with confidence.

Keep helping people in need during the crisis. Social bonds created during this time will last longer

Stay Safe,Follow Social distancing and remember prevention is better than cure

Also Read :

You should not invest in Stock Market

You should invest in Stock Market

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Enjoy the day and your life. Don’t forget, we are alone in this grand universe and may not get a chance to live again.

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