A few tweets on personal finance in the aftermath of Covid-19.

Even though I am generalising here this comes with the disclaimer that each person's situation is unique.

First & foremost, if you do not have an emergency fund start building one now. Money is not just about facing an emergency. It also helps you make better decisions in life.
Like, if you get fired from a job,you don't have take the first offer that comes along,if u don't like it.

Of course, this is only possible if you are in a position to save money. If you are highly leveraged then there is nothing much that you can do, other than hoping that you continue paying your EMIs and don't lose your job. The damage is already done.

Minimise on discretionary consumption. The foreign holiday can wait. So can the purchase of the latest mobile phone.
Mobile phones which cost less than Rs 10k do the same things that mobile phones which cost more than Rs 30k.

Build a checklist of things you spend money on between January and March.
You will be surprised that how many of these things aren't really very necessary...

Priortise EMIs with higher interest payouts. If you have credit card outstandings and money in the savings bank account, please use it to repay the outstandings...
No point in having money in a bank account earning 3-6% while paying an interesting of more than 20%.

No point in having half a dozen credit cards. More the number of cards, more the temptation to spend.
A couple of credit cards, at best, are good enough.

Also, as always be careful in not having your savings bank account in the same bank as you have got your credit card from.
Somewhere in the fine print, you have allowed them to access your savings bank account, if you default on the credit card payment.
Very basic.

This is a slightly philosophical point. If spending gives you meaning in your life, like is the case with so many people I know, you really have a problem...
Time to tackle this heads on...