The outbreak of the Coronavirus has derailed the economy around the world. Lakhs of people have become unemployed due to the closure of the industry. In India also, this number is growing rapidly. The coronavirus crisis is not just a health crisis, but it has put mankind in every way difficult. Most of the companies in the country are making wage cuts, retrenchment. There are some things that you should also learn to deal with this unexpected crisis.
Emergency funds are very important: People often do not have emergency funds. However, one lesson from this epidemic can be taken that it is very important to have an emergency fund. People without emergency funds will have to undergo a financial crisis after their job or after the salary is cut, as they will not be able to repay mi, bill, etc.
Health insurance essential: Coronavirus is an unprecedented health crisis that has claimed millions of lives worldwide. It has broken the back of the health services of many countries. So, at such times, you should have health insurance. One of the reasons for buying a health insurance policy is that your employer's insurance cover is retrenchment/jobless. It Will was not ineffective in case of a job miss.
Not going to work from a source of income: Have you ever wondered why millionaires, billionaires have many sources of income? This is because life is unpredictable, and having multiple sources ensures that you will have options to trust in times of crisis. People who depend solely on a job for income often suffer from an economic crisis.
If you lose your primary source of income, you will find it very difficult to run your monthly expenses. If you are still only dependent on one income source, the time has come for you to consider it. Consider ways to raise income through other options, such as part-time jobs, freelancers, online content creation, rent money, etc.
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