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Having cash on hand is more important than investing anywhere, know 7 things related to money

New Delhi. Due to the Impact of the Coronavirus, the country’s economy is suffering greatly. For this reason, the national stock markets have fallen sharply in recent days. Sensex-Nifty is down 40 percent in 15 days. In such a situation, most people ask themselves this question, what should I do? Is this the opportunity? Should I buy more of the shares already bought? Experts say the pandemic facing the world is different. So different from what we have seen. We all still have to learn what to do next.

(1) Asif Iqbal, head of research at Escort Security, says that currently the only thing that matters is how much money you have in your hand. He understands that it is difficult to withdraw money or invest in falling markets. If you don’t have cash, withdraw money, even if there is a loss. At the same time, if there is enough cash in the bank, keep the money.

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(two) This is not the time to make an investment decision. When the path ahead is not visible, walking in that direction is like walking in the dark without a flashlight. That would be downright stupid. To be honest, we are in the war zone right now and our main priority is to stay alive. You should now have enough cash for at least three months of household expenses. This should include the cost of treatment.

(3) Business activities around the world have come to a standstill. Companies have taken steps to deal with this. Some have allowed employees to work from home. Many have reduced team activity. Extremely poor conditions have suspended work in the affected countries for the time being.

(4) As an investor, you must understand that these will have an impact on economic activities. The markets are falling because they did not expect it. Unless you have a business. Do not make any financial decisions at this time. Do not sell any assets or make any changes to your investments at this time. Just keep the status quo.

(5) Be prepared to help when conditions are not normal. If there is an elderly person in your neighborhood, keep in touch with him. Check if they don’t need you. This pandemic will not allow us to live together in a large group. Use social networks for this. Make people aware as much as possible.

(6) Do you work in a company that pays salary even if it is on vacation or closed? Are you sure that your work will survive this bad period? If so, then you’re in luck. Assess your income and prepare for bad days. When the crisis is at its height, your wealth is useful.

(7) If you are willingly asked to serve in the neighborhood hospital, then definitely do so. If you can create an app to eliminate food waste, do it. If you can set up a bulletin board that says the number of people infected, then set it up. In difficult times, give your contribution to society as you can.

Also read: Due to Corona, the ATM can’t work, so you can get money sitting at home like this!undefined

Tags: business news in hindi, Crown, Coronavirus, coronavirus in india


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