#financialimmunity

[smartnivesh]

Insurance is the basic necessity in today's time. One should have term insurance and health insurance in order to safeguard oneself and one's family. Contact @lalitkgangwar to know more about the insurance. #terminsurance #healthinsurance #healthylifestyle #protection #safeguard #protector #familyman #basic #basicneed #necessities #insurancebroker #insurance #financialprotection #financialfreedom #financialimmunity #financialpreparedness #sabsepehleinsurance #sahinivesh https://www.instagram.com/p/CPIR7FKlwq8/?utm_medium=tumblr

[finanzwealth]

Build your Financial Immunity and become an Asymptomatic Investor! #Market #MarketVolatility #Panic #Symptomatic #Asymptomatic #Immunity #Coronavirus #Covid19 #FinancialImmunity #EmergencyFund #HealthInsurance #TermPlan #AssetAllocation https://www.instagram.com/p/CFM311_l2v0/?igshid=1dt60jtetniel

[nsataxkolkata]

A healthy lifestyle makes a healthy body and a secured future makes a happy family. It is time to achieve ‘Apno Ki #PoornaSuraksha’ by building up your financial immunity with SBI Life - Poorna Suraksha. For more information whatsapp or call me 9831855901 #PoornaSuraksha #Health #Immunity #Family #Secure #FinancialImmunity #ProtectedFamily #Repost #business #student #wife #husband #girl #neighbors #love #family #care #friends #you #secure #insurance #invest #investment #money #financial #futureprotection #Best #insurance #insurancepolicy #income (at Kolkata - The City of Love) https://www.instagram.com/p/CE7FcWUjRDS/?igshid=bz6dnmjub8ew

[dailyeconomicsnet]

COVID Times: Boost Your Financial Immunity

COVID Times:

The COVID-19 pandemic cases are increasing globally, and the number of confirmed cases in India has crossed more than 1.5 million. COVID-19, which started as a health concern, with continued lock-downs and social distancing, normal business activity has taken a back seat leading to economic slowdown. The International Monetary Fund (“IMF”) in its latest report projects the global and Indian economy to contract by 4.9% and 4.5% respectively in 2020.

The pandemic has made a difference in each and every one’s life. Positive changes include – individuals becoming more health conscious, more quality time with family and children, slowing down from their busy life schedule and taking life easy, becoming more technology oriented. Negative changes include heightened fear on health, job safety, and financial stability.

Now let’s look at real life cases of how the pandemic has affected the financial position of individuals

·         Mr Kumar is a website designer and digital marketing professional in Mysore. His monthly income more than doubled over the last three months.

·         Mr Bharath, an IT professional in Bangalore – had to take a pay cut of 20%

·         Mr Ram, who owns a fast food restaurant in Bangalore, had closed his business for three months. But he still managed to pay the rent and staff expenses from his personal savings

·         Mr Chandan, who was working as a travel consultant, has lost his job and is searching for new job.

Loan moratorium is helping individuals manage their cash flows; however, the financial situation could worsen after the moratorium period ends. Many have lost their jobs or taken a pay cut in this on-going pandemic, exposing the financial vulnerability. Individuals who had a financial plan in place, would be in a better position to weather the storm, while those who did not have a right financial plan would be under financial stress.

Boost your Financial immunity at COVID Times:

Key principles of personal finance are simple and effective, but many don’t follow the same as it requires a lot of discipline. Here are some of the key principles which can help boost financial immunity during current times.

Boost Your Income—COVID has changed the way businesses operate. We might witness a structural shift in certain sectors and industries. Individuals who have lost their job or who have got a pay cut should be cautious as the demand for their skill set is reduced or has become obsolete. So, they should hone new skills which can make them more.

·         Never depend on single income —Make investment income your second source of income.  During good times, you need to save for your rainy days. Have a target saving every month, so that you will be well prepared for the future

·         Keep your expenses under control—COVID has brought in forced discipline. Many used to spend Rs 4,000-5,000 on a weekend pre-COVID, so their total spending was close to Rs.20,000-25,000 over weekends in a given month. Now all this unnecessary weekend expenses have drastically reduced. It would be better, as we get back to normal—to cut down unnecessary expenses.

·         Have a health insurance—COVID being a medical crisis, an individual is exposed to health risks. In an unforeseen event of hospitalisation, the financial burden can be significant. It’s better to take a decent health insurance cover, so that the financial risk would be reduced to great extent. You can even think of topping up your current health insurance limits. Most of the insurance companies have come up with top-up policies specifically for COVID times.

·         Avoid getting into new debts – During uncertain times, loan or debt can hurt very badly. It’s better not to take any new loan or debt. Also be wise in using credit cards. In this environment, it is easy to come across a lot of offers and discounts which might entice us to use our credit cards or get into debt. It would be better to postpone purchase, instead of getting into a debt trap.

·         Build an emergency fund – Three to four months of expenses as emergency fund which will come in as handy during tough times.

Conclusion: 

 An economic slowdown can significantly affect the financial position of an individual. The basic principles of personal finance though simple, need lot of discipline to be on track. Please remember the current economic slowdown, is just one of the slowdowns; We might have to see more in the coming years. If you were not well prepared for the on-going slowdown, you can start building your financial immunity with the above-mentioned key pointers.

AUTHOR:

Aiyappan V R CFA

Aiyappan is a CFA Charter-holder and a certified Financial Risk Manager. He specializes in personal finance and founder of www.merafunds.com. He strongly believes in the concept of financial freedom and loves to spread and help people achieve financial freedom. For any queries related to personal finance, you can reach him on aiyappan.vr@gmail.com.

[dgadz]

BKB Financials- Promo Video by DG Adz from DG Adz on Vimeo.

BKB Financial Advisor bkbplus.com Mr. Subodh Pandit (CEO) Digital Visiting Card Link- dgkard.com/BKB-Financial-Advisor. Contact: +91 9738407823

It was Established in year 2000 at Electronic City, Bangalore with a vision to Insure 100 Lakhs Lives by 2030.

✓ So far we have more than 25,000 Clients & still counting.

✓Rated TOP 10 Insurance Advisors in INDIA

✓ Proud to be a Million Dollar Round Table (MDRT) Certified Organization for the past 14 times

✓ Provide free consultancy via in-person or online meetings that explain the benefits of Cash Flow charts, create greater value-add, and ensure more smiles ✓ We create Crorepatis with our Unique Investment Plan of Just INR 199/- Per day

✓ Renowned for our smooth & efficient claim settling as compared to anyone else ever

✓ Recognized, commended & commemorated by the Dept. of Posts within the Ministry of Communications, Govt of India. Email:- pandit@bkbplus.com. bkbplus18@gmail.com

Address- No 4, 1st Cross, C K Nagar, Chinnappa Building, Hosa Road, Electronic City Post, Bengaluru-560100, Karnataka, India.

#bkbplus, #bkbfinancials, #bkbfinancialadvisor, #lifeinsurance, #LIC, #NO1LICAgent, #dgadz, #financialadvice, #insuranceadvisor, #dgkard,#promovideocreation,#youtubepromo, #promovideo, #LICofindia,#digitalbusinessdirectory,#lifeinsurance,#lifeinsuranceinbangalore, #financialimmunity, #subodhpandit, #bkb,

[smartnivesh]

Jai Shri Ram. SIP k sath apne investments ka setu banao aur wealth create karte jao! Happy Ram Navami. #jaishreeram #shriram #setu #ramsetu #investmentsetu #SIP #investment #financialimmunity #financialfreedom #smartnivesh #financialliteracy https://www.instagram.com/p/CN60h9pF04r/?igshid=np2zwfskg0q9

[smartnivesh]

New Year, new financial goals. #letsstart #newwayofinvesting #newgoals #savemoney #investmore #borrowless #terminsurance #healthcover #loseweight #planforretirement #financialprotection #financialfreedom #financialliteracy #financialsecurity #financialimmunity #sahinivesh #sahikadam #smartnivesh https://www.instagram.com/p/CNuhZCFlrf2/?igshid=9x104zfcixvr

[smartnivesh]

6 essential and important questions one should ask oneself to ensure financial independence. Connect with Lalit @ 9930682451 to find answers to your these questions. #financialfreedom #financialindependence #financialliteracy #financialimmunity #questions #sahinivesh #smartnivesh #tipstofinancialfreedom #emergencyfund #assetallocation #review #nomination https://www.instagram.com/p/CJ2c09HB2VK/?igshid=1eptlssp2t6zb

[smartnivesh]

Get the cheapest term insurance with one of the best claim settlement ratios in the industry. Connect with Lalit @ 9930682451 to know more. #maxlife #maxlifeinsurance #terminsurance #october2020 #sastasundartikau #abhaydeol #claimsettlement #financialsecurity #financialimmunity #financialplanning #sahinivesh #smartnivesh https://www.instagram.com/p/CGAp8fRhymf/?igshid=jnabkwc9xhoy

[smartnivesh]

The most important virtue of an investor is discipline and continuity. Be an asymptomatic investor! #financialimmunity #asymptomatic #investor #mutualfundssahihai #symptomatic #marketvolatility #emergencyfund #healthinsurance #termimsurance #mutualfunds #assetallocation #sahinivesh #smartnivesh https://www.instagram.com/p/CFZ5yUthlm7/?igshid=zcblplkm35vv

[smartnivesh]

Mistakes while deciding on the amount for insurance cover The importance of life insurance can only be understood if you have lost your near n dear one. Don't let ur family suffer, make them financially independent with a Term Insurance Plan. #terminsuranceplan #terminsurance #lifeinsurance #lifeinsuranceawareness #lifeinsurancematters #lifegoals #financialimmunity #financialindependence #financialmanagement #smartnivesh https://www.instagram.com/p/CP073tml3hY/?utm_medium=tumblr