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Private Client Group | October 17
Financial Planning During Uncertainty

The raising spectre of salary loses have inadvertently led to rethink upon financial planning goals.With covid-19 well underway and impacting everything from the economy to everyday life, here are few financial planning strategies during crises.

1. Understand your budget:This is a good time to prioritize what really matters most. As we’re all staying home during covid-19, entertainment and food costs have greatly reduced.Beyond essential commodities and utility bills, there has been not a single penny spent. For households surviving on businesses, the spending habits have been left to bleed. The ability of these businesses to employ people, pay salaries and expand activity is curtailed, creating a negative spiral of loss.This new normal is only temporary, getting a handle on your budget doesn’t have to be. A solid budget can also lead to improved savings, which may be paramount if there’s any income loss from covid-19.

2. Make sure your protection: Reviewing insurance policies and legal documents, translating them, and providing education about what’s currently active and what’s available. During any period of uncertainty, this is likely the most important aspect of your plan.

3. Importance of Liquid savings: With the healthcare system shaken, job security is a little less stable. It is highly imperative to boost emergency funds by reserving a pool of cash to afford our necessities during events like downturns.


4. Avoid “Buy Now-Pay Later”-Be careful with credit card debt or better to avoid using this. It is an unsecured debt which is expensive. Continue to pay off your dues every month in full and do not let them accumulate.


5. Stay Invested, Don’t Panic: The market is down, but it’s not due to a poor economy with underlying defects. Consider keeping invested what’s invested. Losses only occur when the shares are sold, so holding on to your investments and letting the markets bounce back might be the best strategy. You might consider riding the wave of the downturn to capture the coming upswing. No one knows when it will bebut it will happen eventually.

Remember, such situation is temporary. We will get through this together. Continue to stay grounded, stay the course and support those around you.

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Important Message The information contained in this file is provided for informational purposes only, and should not be construed as legal advice on any matter. The content and interpretation of the law addressed herein is subject to revision. We disclaim all liability in respect to actions taken or not taken based on any or all the contents of this file to the fullest extent permitted by law. Every effort is made to avoid errors. In spite of that, errors and discrepancies may creep in. It is expressly stated that neither Findoc Investmart Private Limited nor any of the contributors of updates will be responsible for any damage to anybody on the basis of this document. Readers are, therefore, requested to cross check with the original sources e.g. Government publications, Orders, Judgments etc., before taking any action or making any decision. These services are being provided through our group companies Findoc Capital Mart Pvt Ltd and Findoc Finvest Private Limited

Attention Investors
  • 1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
  • 2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
  • 3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

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