Covid -19 pandemic, Lock-down effect 2020.

Lock-down effect 2020

                For the last few months our whole world has been going through the pandemic COVID-19. This is an unfortunate situation for our civilization. It has an immense impact on every aspect of our life and it has a very prominent footprint too.

            We are going through a big lock-down period, which never happened before. So, it must have an effect on our economy and our life, as an individual.

             In our country, we have almost 135 Cr of population, and among this if we considered 50% of this population are moving out every day for their day to day life, for a different reason. And it is very true that as an average all have spent at least 30 Rs/day. Then anyone can imagine this amount, how big it is. Everyday that much of amount is coming to our economy and support it, to grow. So, from this simple calculation we can easily make an estimation of our present economic situation after this long period of lockdown. But on the other hand, the Government has to took this decision because of our safety.

    https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic_in_India

          The present condition of our country is like a person, who has been in coma for more than two months. And most of his body parts are numb because of less blood supply. Similarly, our country's economy has been hindered because of insufficient money flow. Still our government and some industrialists are trying to made it live, as our ventilators work for those patients.

            We all hope everything will be back in its own track and it will. But it needs some time, like the patient who has been recover from the coma condition and getting returns to its normal life, is required time, patience and support.

                     So as an individual we need to prepare ourselves to fight against the crisis with patience, humanity and financial plan    

            For financial plan we 

           1. Need to have a good medical plan for our family.

           2. Needs to have a term policy.

           3. Need to optimize all the spending. As explained in my 2nd part of the blog attached herewith. (https://ivanforsunshine.blogspot.com/2020/05/how-i-will-happy-with-current-job.html)

           4. Need to minimize the use of credit card.

           5. Need to maintained at-least 6 times of our salary in our bank account, for liquidity.

           6. Need to stop the SIP for this period of time, if it is overburden at the present situation.

           7. Need to explore the second source of income.

 

            So, our future will be going to come with lots of surprises, some of them we can anticipated but not all. So, we need to come together and support each other to overcome it.