As the number of coronavirus cases increase and cross the 1 lakh mark globally and World Health Organisation (WHO) terming the disease as a pandemic, the government has put restrictions in place to contain the spread of virus.
From travel restrictions to social distancing, our government has been taking efforts to stop the spread of the disease. People have also been asked to work from home to restrict being in contact with people.
Well, the situation is pretty bad out there and one needs to be fully prepared for whatever may happen while we battle the deadly virus. So we have put together some personal finance tips that will help you during these tough times;
1. Insurance cover
There's no doubt that the government officials are trying their best to provide bes facilities to the affected people. However, it is important to have an insurance cover because you can get treated at private hospitals without worrying about the finances.Insurance Regulatory and Development Authority of India (IRDAI) has already asked insurers to attend the claims filed by the coronavirus patients.
Well, it is also important that one has life insurance cover to avoid any distress during unfortunate times due to the virus.
2. Online transactions
It is also advisable to make as many transactions online to avoid going out in public. You can use net bankin or online debit/credit card transactions to buy your essential commodities or when you order food online. You can even make investments online if you wish too as markets are crashing and investments are cheaper amid the coronavirus outbreak.
3. High limit internet packages
As most of you will be workin from home, as advised by the government, it might be a good idea to be prepared and stay connected with good internet connection. So, it might be good idea to subscribe to a high speed broadband or internet packaes with sufficient data limit. Apart from work purposes, you might also need good connection to keep yourselves entertain while you are at home.
4. Entertainment channels and online studying packages
Well, while you are at home, it is a good idea to make the best of it. To avoid the boredom strike you, you can subscribe to various entertainment channels like Netflix, Prime Video, Hotstar, etc and watch the movie or TV show you have been waitin to watch but could not due to work. Also, you can take online courses while you have some time to spare at home. Moreover, as the schools and colleges have been asked to remain shut, you should subscribe to online educations apps and websites so as to keep your child's education uninterrupted.
5. Invest in good health products
We also advise you to invest in good health products and maintain good personal hygiene. It might be a good idea to eat healthy food and avoid eating junk to keep your immunity strong. As gyms are closed riht now, you can also workout at home by buying basic equipment. Moreover, you should also invest in Vitamin C and immunity tablets, as prescribed by a doctor, to keep yourselves healthier.