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Sunday, 16 August 2020

5 Tips To Become Financially Strong in COVID 19 Situation

5 Tips To Become Financially Strong in COVID 19 Situation

Hello Everyone,

As we all knows about current situation due to COVID-19 Pandemic and how it is affected on our Economy. Many peoples died, many lost their jobs and still struggling with financial problems. In this situation, we should find some other Ways To Earn money to become financially strong. In this article, I will explain you the 5 Things That will Make You Financially Strong and how to use your money in COVID 19 Situation.

How COVID 19 affected on human being and world economy?

First infected patient of COVID-19 Pandemic detected in China, and now it's spread over 188 countries in the world. It badly affected on World Economy and human beings. Many small scale industries has been stopped and large scale companies started Labor cuts, in order that unemployment ratio increased by 20 % in private sector. Getting new jobs for professionals and graduates becames difficult during this situation they're getting depressed.


5 Things Which Will Teach You To Beat Financial Problems in COVID-19

1. Stop Purchasing Luxerious Things

In this situation you should focus on your basic requirements, not on purchasing fashion equipments and wasting money on these things. You should know the difference between your needs and wants. Buy the things that only you need right now.

2. Find Work Online on Internet using Your Skills

If you are an expert in your field and you have a skills and experience then you can search work from home jobs on Internet, you can get money by doing online tasks. Many companies provides platform for working online like Fiverr.com, Freelancer etc. provide online tasks. You just need to register on it to get started. Also you can start blogging, Create Your Own YouTube channel, and you can earn profit money by investing in share market. Once you found your way of online earning, you will earn good income from home.

3. Planning of Money that already you have:

If you do not have employment or any earning source, then you should think about your expenses. Plan your money that already put in savings. Keep some money as an emergency fund so in future you don't need to face financial problems. You should think about Multiplying Your Money by investing it somewhere to get some returns. If you plan your money till you get job then you can sustain very well in this condition. One thing I would like to tell you that, don't take a loan for your expenses and try to live a simply life together with your family.

4. Stay healthy

Staying healthy or your fitness is an important factor which affects on your financial situation. Because when you become sick, you will not able to concentrate on your work, so you will get mentally destroyed and losing your confidence. You need to pay huge medical expenses in hospitals, so you can imagine how worst condition will be there? You should give first priority to your physical and mental health, without this everything is meaningless. If you will be able to keep yourself healthy and fit, then obviously you will have a good achievements in your life. Always take care of your health, so that it can't affect on your economical condition.

5. Avoid Taking Loan

When you're not sure about your fixed income, then don't go for loan. In this situation, you can't pay EMI. You will become more weak and getting trouble with the loans. If there is a serious need of money then you can take it. Arrange money from your friends and relatives for your survival till this situation get's fine.

If you follow above 5 things, then I'm sure that you will be financially strong and can face positively to this situation of Corona Virus.

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