We all face a lot of challenges in our day-to-day life, some big and some small. Some take our life some teach us a lesson. The question is, how much are we prepared for unexpected challenges in our life?

 

For example, the current Covid-19 pandemic I think most of us are facing for the very first time in our lives.

Lockdown, social distancing & wearing masks have become a new norm to protect us from the deadly virus.

 

Schools, malls, and businesses are closed. For most of our country’s population, retaining jobs and surviving the dipping economy has been a concern lately.

 

Because of this situation, lots of people are depressed and, few of them commit suicide. One needs care and assistance to overcome this kind of situation.

 

Money has been a crucial factor for people to panic and thus leading them to take extreme steps for not able to support their day-to-day expenses.

 

But, can we be prepared for such situations?

 

Yes, it is possible by taking a small step.

 

Every month from your income, allocate some amount to liquid fund or your SB account to creating an emergency fund, ideally for six months for your fixed expenses (fixed expenses like rent, household expenses, school fees, loans, etc). It will create a financial backup in bad times like this.

 

Remember, everything is a choice. What you are today is because of the choice you made yesterday. So, choose your decisions wisely.