While reading a news about people struck in other countries , their worry not just fear of job losses but the accumulating loans installment and liabilities, it lead to the question “Whose fault” ? While pandemic is an unforeseen situation, but huge debts (which ever forms) is adding fuel to the fire. Isn’t it ?
When so much is being said about the current Situation we are in, it occurred to me would people start to think about their finances from a different angle.
Financial insecurity might be the major issue after the coronavirus, and a major cause of sleepless nights for majority. For the people who have been spending more then their means, is it not their fault ? Loans for cars, homes or marriages etc , credit cards for groceries to travel expense has been norm of the day for modern world.
The people who have lived strictly by their means , may only have one worry “one square meal ” a day for their families. And the one who had saved for rainy days only have to spend wisely.
But what about people with loans and credit card over spending . The banks and financial institutions may have given temporary relief but nobody is writing-off completely. So the pay back time is hanging like a sword.
Is it not the RIGHT time to INTROSPECT and do a few lifestyle changes. ?
“SPEND WHAT IS IN YOUR POCKET”
This is what our parents and grandparents used to do.