Rakesh Wadhwa:

In the current situation, what advice do you have for employed people who are salaried? How should they conserve or preserve their finances during this crisis? What should be their strategy?

Bindu Ananth:

This time is something that none of us has seen before and. Some people have continued with their income, and they are the lucky ones and therefore it makes sense to continue SIP and, make sure that we have adequate insurance as we should at all times. I think the harder challenges, of course, for people for whom income has disappeared. And this is really when they are dipping into their nest stake. And this is a reminder of I think the personal finance advice that we all kind of keep hearing to say, we have to build a bit of a nest stake which is typically six to eight months of expenses, for any kind of emergency, right? In this case, it happens to be an event of this nature, but it could also be a loss of job. It could be an unexpected life development. It's also a good reminder to have those kinds of buffers, and, build those buffers in systematic careful ways. Not leave that money in savings bank accounts, which is, simply not good enough, but find sort of disciplined ways, to invest over a long term.

This is the time to use those, nest Stakes for those of us, unfortunately, in that position.