From Savings to Stocks: How COVID-19 Changed Our Money Mindset

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Since COVID-19 came, many things have changed around us. Many people lost their close ones, but I consider myself very lucky that I did not lose anyone during that time, and I hope that my family members will stay with me for a long time, or I will stay with them. Earlier, most people used to transfer their money in the banks that were there, but after that, a lot of things changed because a lot of money had accumulated with the people. After all, when you have to work from home, then you do not have to pay for transport and it does not become difficult to go out and eat food either and if you are not doing shopping then your money becomes much safer, even then people were ordering online but still there were a large number of people who were not making any kind of expenditure.

See, at that time very few people would have heard about share market or mutual funds, after that people started investing in large amounts, some people invested money with money and some people started doing SIP, see, if you had started investing at that time also then even now your portfolio would have been very good, I was not an early investor, so I may have missed that opportunity, but now I keep investing regularly, whatever I do I use it. But since the time people have stopped keeping money in banks or have started investing by withdrawing money from savings accounts, since then banks have faced a lot of problems.

Earlier, people did not save their money; they used to get interest of about 2 to 3% on it, but now they are coming to mutual funds and some other things which give them at least 12% return, and if money is invested in some good share,s then your profit increases even more. So people have started investing in whatever type of investment it may be. Earlier they used to invest in whatever option was available in the bank or there were very few people who used to invest in the share market but now people have started investing in it in large numbers and there are very good signs here, it may get a little worse but the people who are there may get better in the coming time. They just have to invest continuously for a few years.

I hope you learned something new today. See you tomorrow. Have a wonderful day. I'm not sure what the exact time is. See you

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