These days our morning starts with Covid-19 news and also ends with the overall update about COVID-19 cases across the country and the world. The same schedule has been going on since March month and this is August but technically there is no change in this.
COVID-19 pandemic disease is still going on and even with increased numbers in some of the countries which is a very serious matter Makes us scare and we need to take precautionary action to stay home as much as possible.
This problem is not affecting us just by one side but multiple side-effects are coming into our lives. Those who have got Infected by this disease and now recovered I have had a very tough time and it's good that they are alive I am now trying to get better health. Bar those who are not infected by disease are also in the risk area of health first and the second impact that they are getting in form of financial impact.
In most of the countries, the government had started the unlock process in certain states because they have their limitation which is not allowing them to stay in the lockdown for a very long time due to economic conditions.
Governments had spent a huge amount of money to manage this problem and also to support their residents in this tough time. People who are in the service sector or also affected by some sort of salary card or layoff by their organizations because they are businesses that are affected. Although companies have provided the option to work from home not everyone can work from home because of the nature of work.
Financial Impact in our lives
This year forget about the salary appraisal and if you are not getting a salary cut, then you should be thankful to the company otherwise many companies are taking such steps to save their costs. There is no certainty about it and I think this will continue for some time where companies will be taking such decisions.
If you notice then you will find that there is a slight price increase in daily necessity items including groceries which is affecting us directly however our income either remains the same or got reduced. This is going to affect our monthly budget and it will be slightly tight to manage the expenses that are fixed and cannot be avoided.
Other expenses are also added in form of masks and sanitizers. You might find it not that much costly but all these were not needed earlier and now since we need to buy this stuff. We need to ensure proper stock-up and its going to cost us a good amount of money for sure.
Kid's education has gone online completely these days because of covid and it raises a need for smartphones/laptops along with high-speed data connection. I am using a cheap smartphone but its creating issues while attending online class so I have to spend money to buy a new one otherwise my simple usage of this phone is good. So this is going to cost me money which was not required if things are going the usual way.
These are just some of the examples which are added in recent months and have cost some money which we can not avoid. I think there would be many more financial impacts other than these your lives and we have no idea by when this all will end.