Due to Coronavirus, the economy is in crisis again. Lockdown is taking place in many parts of the country. This means that again many people’s jobs may come under threat. To avoid this, it is necessary to prepare Emergency Fund. This fund can be prepared with small savings in the coronary period.
According to experts, if you have missed this plan in the first phase, then there is still a chance that you can use it. By investing the remaining money in the corona, you can create a big fund in the long run.
Generally, a family consists of 4 members. Therefore, if we consider this as an example, 4 members spend at least Rs 2,500 to watch a film once a month. Similarly, once a month it costs 2,000 rupees to go to the hotel. Since the work from home is going on for most people.
Therefore, your office and transportation and other expenses are also in it. If you mix all the expenses in this way, then it is close to 10 thousand rupees a month. Apart from this, there were many other expenses like gym, parlor, tuition, online orders which have been stopped at this time. That is when talking about a family of four members, at this time he is saving at least 10,000 rupees as these expenses.
When you do not have a job or there is an emergency, then you can save these expenses and use it in the coming time. The best way for this is to invest this money in liquid funds of mutual funds for 2-4 months. Here you can get more returns from FD. At this time, when the market has fallen recently, a lot of shares have also been beaten. You can also invest some money in it by taking the advice of investment advisors.
Nowadays, online shopping and merchandise culture dominate where expenses are incurred even when there is no need. These expenses are such that you do not even know. Many companies make money out of you by giving all offers. Remember that no company will give any product without profit. But by offering you 500 rupees, she makes you spend 5,000 rupees. Remember that you get 5,000 rupees to get 500.
If you have a little extra money, then you can top up the SIP in mutual funds at this time. As soon as the effect of the corona is less, you can get double-digit returns. Statistics show that in the last year, all schemes of mutual funds have given benefits of 40 to 90%.
Talk about the stock market, it has broken nearly 6% by the 52 thousand marks. Many shares have been beaten recently. If you want, you can also invest in it. Keep in mind that you should invest from the perspective of the next year. Because the effect of the corona is still going to remain for a few months.