Credit cards in a back pocket


While covid-19 has hit jobs on one hand, it has also provided an opportunity to drastically cut down on people’s expenses on the other hand. In such a situation, if you want to easily pay your expenses like home or vehicle loans or any regular expenses without any stress, then you should prepare for it from now on. Luckily, there is a Flipkart credit card to help you during these trying  times.

Arrange for up to 6 months

Even if you have taken a home loan or not, you will still have to arrange for expenses for the next 6 months. For this, you should first cut down on unnecessary expenses that you were spending before. For example, before covid-19, if there are four members in a family, then their monthly expenses on unnecessary stuff, were in this way.

There were also expenses on gyms, parlors, tuition

Watching a film once a month costs at least Rs 1,500 for four members. It costs Rs 2,000 to visit the hotel once a month. Similarly, if the regular expenses of the four members, which were to be incurred on going out, would have been around Rs 10,000. Apart from this, there were many other expenses like gym, parlor, tuition, and online order, which have stopped at this time. That is, talking about a family of four members, at this time, he can save Rs 15,000 monthly on these expenses.

You can also get good returns on 2-4 months of investment

If you want, you can save these expenses and use them in the coming time when you do not have a job or have an emergency. If such a thing does not happen to god, then you can keep that money for the emergency. Not only this, for 2-4 months, you can put this money in the liquid funds of mutual funds where you can get more returns than fds. At this time when the market has fallen, you may get a return in double digits as well. You can also resort to online for investment.


ALSO READ: The Financial Impact of COVID-19 To Canada’s Market


Use of credit cards

If you use a credit card, you should start using a credit card from this month with 45 days to pay the amount used. If you want, you can pay that money in these 45 days and use the credit card again. Provided that it is in mind that the use of credit cards should be done only during the most important expenses.

Don’t go to offers

That’s when you can stay a little away from the mal culture. Nowadays, an online procurement and goods culture dominate where expenses are incurred even if there is no need. These expenses are such that you don’t even know. A lot of companies make all the offers and withdraw money from you. Remember that no company will give any product without profit. But by offering you Rs 500, she makes you spend Rs 5,000. Remember that your Rs 5,000 goes away to get $500.

What to do with investment?

However, if you have invested, then try to save it in this bearish market and try not to keep the investment incomplete. That is, if you have kept sip tax in mutual funds, then you should continue it because in the decline of this market you will get more units at a lower price. If you have invested in insurance, keep it as well. If you have invested in a stock, sell it at the right price or reduce the average price of your investment by investing a little more in the same stock.

Keep increasing the investment

If you have a little extra money, then you can top up in mutual funds at this time and when the market is right, you can get a double-digit return in just 3-4 months. The same is the case in good stocks at the moment where you can think of investing. But don’t break the investment in any situation.