Stock markets are continuously falling amid fears of corona virus. What should we do in this case? We all have to think about what to do next.
Not investing in corona time, these 8 tasks necessarily mean that you will be worried about your money during a health emergency like corona, your concern about the declining value of your investment in the stock market and other dimensions. But leave it aside; know what to do if you do not think of making a profit in the midst of the rising fear of Corona. Think about 8 things that are needed right now.
Have enough cash on hand?
Right now the only thing that matters is the amount of cash in your hand. It is difficult to withdraw money from falling stock markets or invest in it. If you do not have cash, withdraw money, even if there is a loss. At the same time, if there is enough cash in the bank, then keep the money in the market. This is not the right time to make investment decisions. We are currently in the war zone where there is a need to save lives. You must have cash equal to at least three months of expenses.
Be Alert -Keep ears and eyes open
This is the era of social media. There are many rumours about Corona as well. Consider those things which are related to the decisions of the government. Follow each advisory. Whether it is from the government or from the local administration. Stay away from social gathering.
Not every business can be closed
Companies have taken several steps to deal with this health emergency. In such a situation, not every business can be closed. Work from home has been facilitated, team activities have been reduced. Moving to work in affected countries has been postponed for the time being. Unless you are running a business, do not take any financial decision. Do not sell any asset nor make any new investment.
Don’t keep extra house hold stuffs in the house
Shutdown has been done everywhere for about 15 days. But this does not mean that you start hoarding. If danger will be in control, then the shutdown may end soon, otherwise it can be extended depending on the situation.
Be ready to help
Take care of your elders around. See if they need you. Take the help of social media, stay in the group is not good in this epidemic and make people aware of it.
Do not bother with decreasing investment value
In the midst of an epidemic like Corona, don’t worry about the value of your investment decreasing. Understand that there is a difference between wealth and income. The value of investment in the market has decreased, but the income from the company you work in is more important. It is important to trust that your job remains. Evaluate your income and prepare for bad days. In times of crisis your wealth will work.
In this time of crisis, if you are asked to give voluntary service in a hospital, then definitely do so. Any contribution for relief will be greater for the society.
Do not think that what you see around the corona is unrealistic. But there is also no need to panic. No cure has yet been found for this epidemic, this unique type of problem. It is also not right to live in this forgetting that you will remain untouched by it, vigilance is necessary.
Stay at home, Stay Safe, Spread Awareness