Leading in turbulent Surviving the shockwaves in 2021

Leading in turbulent times webinar series: Surviving the shockwaves:

The COVID-19 pandemic not only affects people’s daily lives and the world economy but also causes shock waves in financial markets. We’ve seen a decline in the stock market that hasn’t happened in a generation and that’s just the beginning.

In this webinar, Karl Schmedders, professor of finance, IMD, discusses the current state of the world’s financial markets and tries to provide an example of recent policies.

But this expert on computer economics and the effect of external factors on finance is not as optimistic as some. While the latest comment on the economic impact of the coronavirus crisis indicates that the impact will be serious but short-lived, he believes the recovery process will take much longer than expected.

Professor Schmedders examines the U-shaped economic model he devises. After the current steep descent, this indicates that a somewhat flat bottom will follow and eventually end up in a low-level slow rally.

Financial Survival Guide to Guide You During the Second Wave of Covid-19

The bill was hit with millions of layoffs. Even the lives of those who have not lost their jobs have completely changed and, for many, working from home is the norm.

The second wave of Covid-19 is really coming and will likely affect how we work in the future. Although the pandemic caused an overwhelming fear, the financial pressure due to this situation is an even greater fear. The bill was hit with millions of layoffs. Even the lives of those who haven’t lost their jobs have completely changed and worked from home is the norm for many people. As a result, the financial situation of many people can no longer meet their needs and it seems impossible to find a way out. But with a realistic plan, it is possible to navigate this unknown area.

Visualize your finances and prioritize your goals

If your business is affected, your income and finances may also be affected. This puts a lot of pressure on monthly payments, premiums, etc. You will then have to adjust your financial goals to overcome this crisis and come out relatively unscathed. Download your bank statements and find out where your money is going and what it contains. It gives you a good idea of   your current financial situation and helps you make a realistic budget for the future. Track your expenses everywhere.

Find out if your bank can give you complete peace of mind

If you have lost a source of income, you can ask your bank for support or a mechanism to cancel a loan and get through the difficult phase. Find out if the countertop is defective or frozen for temporary relief. However, make sure you have a plan in place to recover missed payments, as the lack of interest on the outstanding amount cannot be avoided.

Shortly after the outbreak of the coronavirus pandemic in India, the stock market took a hit in March of last year and sparked a wave of panic among investors. They withdrew their investments or discontinued their systematic investment plans (SIPs), fearing another market crash. Never do that. The key here is to be patient. If you don’t need the money right away or are lucky enough to still have your job, invest small amounts in different equity funds in different ways.

Start an emergency fund

A simple emergency fund is essential in times of crisis. Start now if you can set aside a certain amount of your income. You need to make sure that the emergency fund can cover your expenses for at least about a year.

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