Tax Analyst's advice to his friends during post COVID19:

- One of my caring friend Pradeep Naidu, who is a Tax analyst has written a beautiful piece of analysis at ‘Tax Guru’ website. He has intended to help us all to understand the personal finance, money, and investment aspects during COVID19 and its aftermath.

Image source: attitudereconstruction.com

Below I am presenting to you the highlight of the article, you can click to read the whole analysis too.

- In this ever-changing situation, every individual has to update & make them ‘Fit’. It could be an employment, health, finance relationships & anything for that matter.

- As witnessed by all of us, it is seen that the entire global economy has been largely affected by the pandemic and this might even turn out be the worst recession, since the Great Depression in the 1930s.

- In India, this crisis has led to a spear in the country’s unemployment rate to 27.11% as on May 3^rd.

- It is feared that COVID-19 will significantly impact the $180-billion Indian IT sector and the impact may be worse than that of the 2008 global financial crisis.

- As per The Federation of Hotel & Restaurant Associations of India, the Indian hospitality and tourism industry is staring at a potential job loss of around 38 million, which is 70% of the total workforce.

Then, in that case, inculcating financial discipline is of paramount importance and the following are few thoughts put across here, which may assist in mitigating the detrimental consequences. The in-depth explanation of each point can be found in the original article.

> LIVE WITHIN ONES’ MEANS: If you make it a habit to live within your means each and every day during the good times, you are less likely to go into debt. This will save us in bad times.

> INCREASING SAVING POTENTIAL:

> HAVE ADDITIONAL INCOME:

> HAVE INVESTMENTS FOR LONG TERM:

> HAVE DIVERSIFIED INVESTMENTS:

> BETTER TAX PLANNING:

> DO NOT MAKE ANY BIG INVESTMENTS:

> DO NOT JUMP JOBS IN A HURRY:

Click to read the original article from the source:

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💭 Level Up Your Life: Unveiling Your Life Skills Toolkit We'll be diving deep into a variety of areas, all designed to equip you for whatever life throws your way. Here's a sneak peek at some of the exciting topics we'll be exploring: So, get to learn and get ready to embark on a journey of self-discovery, self-improvement and empowerment. Together, let's build that life skills toolkit and conquer whatever life throws our way! Click your area of interest below to read many many articles under each topic: 1. Life Skills- - - 2. Corporate Stories 3. Work Life Balance 4. Understanding Teenagers 5. Understanding Life 6. Happy Feeling 7. Leadership Skills 8. Initiatives 9. Health and wellness 10. Motivating Potentials 11. My friends are gold 12. Relationship Management 13. Understanding Self 14. Fun and Fun 15 . Hit hard 16. Activities Or Also you can select based on year of publication: Click for articles of 2020 --- Click for articles of 2019 --- Cli

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