Self-isolation boosting savings? What sorcery is this?

Several countries, including ours, are in a state of lockdown as Coronavirus rampages like Galactus himself. The Novel virus (not noble at all) comes with a ‘License to Kill’ and we all have planned to ‘Die Another Day’ by choosing to stay at home. This wise decision is popularly known as self-isolation.

At this point, we have quite a lot of time in our hands. We have mostly been asking for it and now that we finally have it, it’s time to make good use of it.

Explore the Kitchen!

All the chefs in the house (literally in the house), please put your hands up! This is your time. The grocery shops and departmental stores are open. So, get what you want from there and turn this time into your very own first season of ‘Masterchef in times of self-isolation’.

Also, it is extremely healthy to cook and eat fresh food at home. It does take some effort to push yourself to the kitchen and start cooking if it’s not really your forte; but in times like these, DIY in terms of consumables is an ideal thing to observe.

Going Places…NOT!

Yes, we love to go to places. Generally, we have a wide range of options, starting from your friend’s house for one evening to a long vacation. We can’t do any of these during this lockdown and isolation period. You may watch the 1974 comedy flick ‘Going Places’ online, however!

What you can do instead is to make plans for your next travel and save money accordingly. Since there is no transport cost now, save that entire fund to use it for your next vacation once this lockdown is over. Also, spend some quality time remembering all your past travels (including your everyday journey to the centre of your office) and relive the memories.

Also Read: This Too Shall Pass: Indian Market’s Volatility Amid Coronavirus Nightmare

The Mall Culture

We love malls, we love them all! Shopping, movies, eating – it’s like a perfect solution to ‘How to blow your money quickly under one roof’. Yes, we do need malls and multiplexes but a lot of us also splurge a great deal at such places every month. 

No impulsive shopping, no over-buying and crying later, no super-expensive tub of caramel popcorn for a movie that cost one-third its price. Now that these places are shut down and you are not being able to spend on such cravings, plan to invest this extra money that is getting accumulated in your account.

Also, stay home and make proper use of the streaming platforms that you’ve subscribed to. There’s so much content there, and your busy schedule never allows you to use these platforms to their full potential. Now that you have more time at home, start enjoying the shows that have always been there on your watch list.

Read

Lou Reed once said, “I don’t know anyone actually who does care what a critic says.”. So start reading all the pending books that you bought/borrowed without caring about its rating. You never know what you end up liking. Also, reading allows you to build new perspectives about things that already have pre-defined notions in your mind.

Along with your books, also read up more on the investment options that can earn considerable returns once the economy starts stabilising itself. Mutual funds can be a good option but please read the offer document clearly before investing. You know the drill!

There are loads to do during this critical time when health and wealth have been affected heavily together. It is time we plan all our moves and take actions wisely. Stay home and find your ‘Quantum of Solace’ in all the cheerful and happy things that can be done indoors (probably while listening to Doors).

For any clarifications/feedback on the topic, please contact the writer at sujaini.biswas@cleartax.in