Kamal K Sharma
“As we entered 2020 about 135 days back did anyone ever expected that Airports will be shut down, flights will be grounded, trains will halt, roads will be empty, 2 wheelers or luxurious sedans will have no role to play, saloons & gyms will be locked, malls will be closed indefinitely, there will be black out in movie halls. All eating joints will have shutters down for months, fast food for children will be thing of past. Yes this all happened and we are witness to world’s biggest ever pandemic the Covid 19.
Living Rooms have suddenly changed into meeting places, zoom meetings are keeping us occupied, work from home is settling well and suddenly families have started eating 3 meals together which used to be once in a month experience. Everyone of us has taken good time to understand and there is a paradigm shift in our thinking pattern…what has changed, we have suddenly and certainly started realizing that our NEEDS were never the challenge its in fact our WANTS that brought all the stress that we had in life. Whenever a lockdown is relaxed for a while all we rush to reach out is nearest Grocery Store, Vegetable Shop, Milk Booth or at the most a Medical Store. What saved families was their cash in hand or their savings lying in liquid assets. The ones we see not in very comfortable position at such a time are those who dont have enough savings for future or any cash in hand to survive the lockdown.
The biggest learning Covid 19 will give to the mankind across the globe is to be prepared for every situation as worse as complete lockdown. Governments across most powerful nations have failed to fight this mighty enemy because they were not prepared, everyone was busy in making weapons for today but not prepared to face such a challenge. As a family also its equally important to focus on present needs but then be financially prepared for the future as well.
As families realize the fact and understand the value of money, get to know the difference in NEEDS and WANTS, a habit of saving will be new normal in human life. Once you look at saving, understand the fact that about 90% of people’s hard earned money is invested in assets like Real State & Gold which at times of such a pandemic can not be liquidated or put to use. Every family needs to have a well planned contingency fund that should be equivalent to 3 years of household expanses and remains in your easy reach. You definitely need expert advice to plan your long term financial goals as well as create an emergency fund for times like this.
Understand your needs, shrink your wants, save well for tomorrow is a New Normal post Covid 19. SaveFirst & Khushian Har Pal is mantra going forward”