Sit at home
Given the complex epidemiological environment, the best thing to do for yourself and for your health is to minimize the risk of getting sick himself. To get sick from the point of view – it is unpleasant, but from the point of view of financial – it is a terrible minus. Health is an asset that each of us will possess to varying degrees; it is necessary to dispose of the asset intelligently, and now the most reasonable thing is not to leave the house without extreme need. Out, don’t forget the mask, gloves and careful hand washing immediately after the street. It won’t bring money, but it will help not spend it on treatment.
Do not buy “pro stock”
Do not lead to panic, on photos and videos in social networks. Ostensibly empty shelves are often a dirty trick of unconscionable outlet owners. March proved: in the warehouses of hypermarkets there is everything you can need. So far there is no reason to cut off the logistics of food – everything remains as it was before the pandemic. Rare shoplifting is to some extent even useful, cocoa no walk. And, on the other hand, no one repealed the law of supply and demand: if people massively buy up approximately the same thing (cereals, canned food) – it will increase in price. Who screws prices up – nowhere bad government? US agents? Or are we with our own hands?
Make a credit card or mortgage, take a consumer loan are all very bad ideas. We are not just quarantined. We are in the conditions of financial crisis in Russia and in the conditions of the global financial crisis. And plus a pandemic. In such a construct, when you can lose income and health, when it’s not known what happens next, the most unwise thing that can be done is borrow and spend credit.
The only exception is if you continue and exactly keep working (or you’ve always worked remotely, or you’re an IT person, or someone else who doesn’t belong to an “extinction” view). In this case, you can consider the mortgage, especially if you were going to make it. The mortgage contract implies life insurance, as well as insurance against loss of performance upon dismissal, and this is a good help now. For everyone else: if you have savings, you don’t need to put them into real estate now. And if you have accumulations and at the same time for some reason credit – get rid of the latter.
Save and maintain a personal budget
How to save – it is clear to anyone and without articles: do not buy spontaneously, buy the minimum necessary, take an inventory of the kitchen and make a list of the necessary ones. And how to conduct a personal budget – detailed analysis in a separate article.
Buy currency, if there is anything it
‘s advice for all time, not only on crisis. The dollar and euro have much less risk of default and denomination than the domestic currency.
Investments and airbag
If you did everything right before quarantine, then you have money to spend a few months out of work. “Airbag” is generally understood to be the amount that will be enough for approximately three months of your normal life. If you don’t have such a cushion right now – bad, start putting off the “pillow” as soon as the normal course of things recover. Having accumulated the necessary amount, do not stop. Keep delaying, accumulating capital. But now, during quarantine, you don’t need to rush to invest, especially if you haven’t done it before, if you don’t know anything about it. Take advice about currency, and as for investment – now is the best time to prepare in theory: read forums, download free books, watch free videos on this topic , you know. Today the markets are highly turbulent, the peak of the crisis is not past. Now is not the time to start investing.
If you’ve never used them, google that it is and get money. You can get a deduction for paid tuition, for paid treatment, for buying drugs, property deduction, pension funding deduction, IIS deduction… It’s not all there is, and it’s all the living money you can get now. Online in your personal account on the tax website.