The outbreak of the coronavirus pandemic has caused fear and panic around the world where most people are struggling to cope up with continuous stress. It has everyone anxious about more than just their health. As fear mounts to COVID-19, each one of us is wondering how to protect our finances in these unprecedented times. Millions of people around the globe have lost their jobs and the world has come to a standstill. Amid global economic uncertainty, it is, therefore, imperative to make smart money moves and establish our financial safety net.
Making the right money moves in times of uncertainty requires a bit of planning and several factors need to be weighed before coming to a decision. The first step is to reassess our budget. This is the time when we need to fall back on our savings and figure out ways to generate more money to deal with the economic collapse. In the middle of all destruction, darkness, and calamity of the COVID-19 breakout, there could be one silver lining. With restaurants, malls and gyms closed, it is now easier for us to drastically cut down unnecessary spending. This means we have additional cash that we could use to invest and generate returns. Yes, our extra savings can grow exponentially without much effort. Wondering how?
With MCB Funds’s digital initiative ‘iSave’ we can start investing in mutual funds right away. With the world practicing self-isolation and social distancing, why not avail saving opportunities which could protect us and our families from the anticipated financial crisis? With a service like iSave, we no longer need to worry about the painful registration process and hidden charges. It typically works like a normal bank account, where one can deposit and withdraw money via ATM, online portal or cheque anytime. On top of that, the investor earns daily returns and also issued a debit card for easy cash withdrawals.
As one rightly said, “You have nothing to lose by saving- and only a happier future to gain.” Saving right now is essential as it provides us a back-up plan and prepares us to deal with all kinds of emergencies in the future. Hence, stop worrying and start storing your money!
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