Covid-19 has accelerated Financial Awareness in India The economic impacts of the coronavirus pandemic are palpable for all of us. But how we cope with additional financial pressures as individuals depends on how well we understand the dynamics of debt accumulation, risk diversification and other financial concepts. Cash lying idle in a savings account serves little purpose. Not only are the returns low, but in case of unfortunate events, it is difficult to access them. In order to compound wealth in the long run and mitigate risks.
As a nation and globally, we are currently facing unprecedented times. The outbreak of COVID-19 is a global pandemic that has pushed several states and cities into a complete lockdown. Businesses have either come to a standstill or are trying to best manage operation through widespread digital mediums, while maintaining proper social distancing.
Take these points into consideration-
1) Do not increase your Financial obligations like finances and debts at this time
2) ado not take Decisions based on Fear
3) Review your finances and financial goals
4) Don't splurge. Take guard of your Health and Wealth
5) Keep enough liquidity to meet urgent needs
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