Have you Lost a Job in this Pandemic? Do you have Anxiety about, what if next month also turns out to be a lockdown, you won’t be getting a salary?
I think there are many in this condition. Jobless. Hopelessness about expenses and responsibilities.
Most find it hard to save 500 rupees each month. Most have a monthly package of expenses exactly matching the amount they earn.
From school until graduation, educators taught us all the concepts according to the syllabus however not a single teacher told us that money is important, save it.
Most people have stress about the money in this pandemic as no one was prepared for a shut down of their payrolls. No one prepared them to have an emergency fund.
This pandemic withholds a tag of natural disaster, although it is a different kind. This has shaken many people’s roots. Many have lost the sole earning person in their family and several have spent lakhs of rupees in recovery and treatment.
What is the general suffering object in all these? It’s the money. It’s all about how financially sound you are. How much savings do you have to spend in these unprecedented events like the pandemic or any natural disaster?
How many months can you sustain yourself and your family members, in an equivalent way to your earlier lifestyle?
2020 was a challenging year. Although 2021 has made things much more critical. We could be better prepared for the next one(hopefully not very soon) with financial literacy.
Our generation would be the first to be prepared for the next unexplained calamity with financial stability. Any misfortune comes, we must be rooted and stand strong like an old tree. To survive any kind of storm what we need is the secret of financial stability.
We all can be financially stable. All we need is knowledge about how to save, how much to spend? Where to invest? What is an emergency fund? All this knowledge comes from taking advice from a financially literate person and then creating our plan according to their guidance.
A person makes decisions according to the economic situations he/she came from. The recession made our parent’s distinct kind of investors. This pandemic will make us choose several kinds of economic decisions and in turn, it will create a distinct kind of economy. It will make us unconventional kind individuals with different kinds of income streams. We will turn into a distinct kind of investor and investment.
Whatever situation you are in today is all because of the financial choices you made in the past. There is a definite advantage of being a Financially Literate person.
So here I have a list of recommendations for being financially knowledgeable through these very simple to read books.
- The Psychology of money by Morgan Housel: The simplest form of a book which will make analyse our past economy and how to handle the unpredictable economic crunch in our life. https://amzn.to/2T4HHPe
- Rich Dad and Poor Dad by Robert T. Kiyosaki: The old is gold kind of book filled with knowledge and treasure that you unlock once you complete the book.
- The richest man in Babylon by George S. Clason: The powerful way of money-making is widely explained in this book. The book points out key measures to save.
- The Compound Effect by Darren Hardy: The book purely based on the concept that how decisions make your destiny. The simple financial decisions we take in our day to day life. The neglect we make with our consciousness is very orderly described in this book. https://amzn.to/3ijqfBf
- Think and Grow Rich by Napoleon Hill: This book is a collection of secrets of famous individuals approach towards saving, investing and their ideas about money.https://amzn.to/3cjQwvz
Do check out all these books. All are rich books that must be read by each person in the very first days of their professional careers.
I would love to hear your own unique financial choices, kindly share in the comments.
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