After the nationwide lockdown last year, many States have imposed partial to full curfew/lockdown again this year to contain the second Covid wave. As a result, many people have either lost their jobs again or are facing salary cuts that cause immense financial hardship for them.
The high rate of food inflation is increasing the hardship further, forcing the affected people to cut expenses.
Here are what experts suggest on how to manage your savings and finances during Covid:
“It’s best to go frugal on all non essential expenses during these times and save & budget as much as possible,” says Abhishek Soni, Co-Founder & CEO – Upwards.
As suggested by Soni, you should:
- review your credit reports for accuracy,
- maintain a record of your inventory of financial assets (stocks, bonds, savings, etc.) to keep track of everything you own,
- keep important documents related to homes,…