In the United States, the coronavirus spread is still in its full swing. Millions of people are still working from home and making sure they continue with their life while maintaining the restrictions and precautions.
You could say that the Covid-19 popped the 2020 party. Nonetheless, with so much spare time on hands now, people have started discovering new habits that they could not take time out for in the pre-coronavirus days.
Believe it or not, there is a silver lining to the pandemic. The coronavirus outbreak is not altogether bad. If you start noticing, you will figure out some newly developed habits in yourself this year. While some of the habits might not be as useful, such as getting lesser sleep or not exercising while staying at home, some of the coronavirus-influenced habits are beneficial for your lifestyle.
After months into the pandemic, it has become easy to understand the changes that has occurred in our lives. It has also become easy to dissect the newly developed habits to find out which are beneficial enough to hold on to and which you should let go of.
Now that things are slowly getting back to normal, it would be better that you take some lessons and habits and enter the normal routine as a new person. We have mentioned some of the good things, which if you have developed, you should hold on to.
In the initial wave of coronavirus spread almost every workplace closed down and sent employees to homes. These temporary changes in work mode can even lead to a permanent working mode for many employees as organizations in the United States are thinking to extend remote working schedules for their workforce.
This entirely new dynamic of new work brought many people close to nature. Previously, in the pre-coronavirus days, we hardly got time to do something different rather than following the list of regular chores.
However, with the opportunity to work from home, people have developed a habit to quit the toxic routine of their life and leverage the change to the fullest. For instance, now we have the time morning walks, sitting in the park, hitting the gym, etc.
Less Internet Streaming Entertainment
Before the coronavirus outbreak, people were habitual of binge-watching TV shows and movies on internet-streaming platforms. However, now with an increase in demand for cable TV people have been switching their entertainment preferences. Cable TV companies such as Wow TV have been going the extra mile to compete with streaming services and provide better entertainment at affordable rates. Plus, cable TV will always have an edge considering it comes with a complete package of sports as well as news.
Switching to cable TV can be considered a healthy habit, as TV watching doesn’t hook you to the screen for too long. However, on the other hand, internet streaming platforms based entertainment is most consumed on smartphones, which are glued to our hands.
Also, the increase in Cable TV watching has helped parents in correcting screen time consumption and behaviors of their kids. Cable TV entertainment allows parents to restrict their kids to particular channels and also make a time table for them to follow in home with regards to screen time.
Increased Physical Activity
In the initial days of the coronavirus outbreak, the closure of gyms and fitness centers resulted in a hit on the fitness goals of many people.
However, now that months have passed in this monotonous routine, people have started changing their habits for their good.
According to the report by RunRepeat, people that exercised 1-2 times per week in the pre-coronavirus days have now increased their physical activities by almost 88%. This indicates that people have started focusing on their health to come out in better shape when this pandemic ends.
This habit should be considered the most beneficial one and should be made part of the post coronavirus world.
The ‘Me’ Time
When the coronavirus outbreak caused the closure of gyms, cafes, pubs, and even workplaces, people started relying on themselves to kill time.
This ample amount of time gave people the opportunity to learn a new skill and even refresh the old ones. People also resumed the projects that they had put on hold.
Psychological experts think that taking on these personal tasks cause more benefit than just killing boredom by doing nothing.
Stick to Your Habits
Pandemic has led to the development of some beneficial habits in people that should not be let go of once this ends. Rather they should be made a part of the lifestyle.
What Your Small Business Really Needs to Become Successful in 2021
Most of us have had a bumpy start to the year, whether that be in our personal or in our professional lives, but after the year 2020, nobody is that surprised if things don’t go to plan. But, if you own a small business, which is seemingly an ever-growing trend in America, you still want to make it work.
There are so many things, as you have probably found out, which are essential for your business to continue to provide you with a stable income, and it’s not uncommon for your business to lose money before it starts making a profit. This can be seriously heartbreaking, especially if you’ve been putting in the long hours for months to make it work.
This is not always a bad sign, as some businesses that explode onto the scene can disappear just as quickly because they just are part of a trend and have no longevity. If your business builds slowly and steadily, it can be a sign that you will be there in the long run.
Now, some people will tell you it’s the idea that runs a business. This is true. But what most people won’t tell you is that it’s the knowledge and the ambition behind the person who runs the business that clears the path for the business to walk down.
So, what does a business really need to become successful in 2021?
Well, firstly it’s trust and confidence from customers and employees. With the threat of cybercrime on the rise, network security has never been so important. It can be very costly to recover from a data breach and can put your business out of action permanently. Not only due to the money it costs to rebound back, but also the loss of client trust and confidence. They trusted you with very sensitive information, such as bank details or medical records, and you failed by not protecting it well enough.
Another thing that will help your business stay afloat, especially within the modern era, is IT consultancy. Having an IT consultant to help you choose the right bang for your buck when it comes to the technology market can save you a lot of money in the long run. Services such as Spectrumwise can help you with IT consultancy and help protect your network security too.
In addition to this, it is wise to know your market. Having a good marketing strategy, for example, using social media influencer marketing to help advertise your product, can be a real booster for your business. This kind of marketing is a great way to get your business’ name known earlier on when you can’t quite afford to advertise.
Lastly, it is always a good idea to make your business worth investing in. Using environmentally friendly materials can have a good effect on your business, and working off of green energies or openly supported generally well-regarded charities can help your business’s association grow into a large, positively fuelled empire.
Solve Your Financial Issues With An Instant Personal Loan From Bajaj Finserv
Everything we want is available to use within a few hours or, in some cases, days. But this does not change the fact that we lead a fast-paced life. In times of emergencies, we tend to believe that our funds will be available for access immediately. However, the reality is far twisted. Often, we are unable to retrieve money from our life savings or investments due to various norms.
So, the question is, how do you sustain stability in times of financial crises when you are unable to access your savings? The answer is simple – instant personal loan. Don’t fret just because we mentioned taking a loan. Many times, the need for a sudden financial aid can arise suddenly – it can be due to medical or other personal emergencies. Constantly dipping into your savings or investment plans can harm your future finances.
During such times, taking an instant personal loan can help you deal with your short-term financial crises. In India, it has become easier to acquire a personal loan in a day. Thanks to the advancements in technology, you can apply for a personal loan from the comforts of your home or on the go. Simply visit the lender’s website or download a personal loan app.
One such personal loan app gaining popularity in the market is the Finserv MARKETS App. We’ve enlisted a few features and benefits of applying for a personal loan via the Bajaj Finance mobile app below:
- Eligible applicants can avail an instant personal loan of up to Rs. 25 Lakhs under specified conditions. If you are looking to acquire a high loan amount, focus on improving your CIBIL score and providing valid income proofs from all sources.
- You can opt for a longer tenure to repay the loan amount, which, in turn, will reduce the EMI amount. The tenure period can be as per your convenience and affordability.
- Bajaj Finance provides an online tool that helps customers manage personal loan repayment. With the EMI calculator, you can determine your monthly EMIs based on your loan amount, tenure, and applicable interest rate.
- Besides this, you can also use the loan eligibility calculator to understand whether you are eligible to acquire the necessary credits or not. Using this will help gain insights on the maximum loan amount that the lender can sanction to you based on your income and expenses.
- Once the loan application is approved, the amount is disbursed immediately and will be credited into your account in no time.
- Bajaj Finance also offers Flexi loan facility, allowing you to borrow the amount as per your convenience. This further helps maintain affordable EMIs.
The personal loan application via the Finserv MARKETS app is simple and hassle-free. We’ve explained the steps to apply for a personal loan using this app further in the article. However, before we get to it, let us know the eligibility criteria and documents needed to acquire a personal loan in India.
- The applicants should be Indian citizens in the age group of 23-55 years old.
- They should be employees at a reputed MNC, private, or public firm.
- The salary should match the threshold specified by the lender. The minimum salary amount depends on your residential city.
- The applicants should have a CIBIL score of 750 or above.
- KYC documents – Aadhaar card, voter ID, PAN Card, driving licence, etc.
- Employment proof – Company ID card.
- Salary slips for the last two months
- Bank account statements of the salary account for the last three/six months.
How to Apply for an Instant Loan with Finserv MARKETS App?
After knowing the eligibility criteria and documents needed to apply for an instant loan in India, here’s how to apply for it using the Finserv MARKETS App:
- Download and Install the Finserv MARKETS App from the Google Play Store or Apple App Store.
- Open the app and go to the ‘Personal Loan’ section.
- Fill the application form with personal and other requested details.
- Upload the requested documents and apply.
- The lender will assess the loan application and verify the documents.
- If the loan is approved, the amount will be credited into your account shortly.
Bid farewell to the tension arising from financial contingencies by acquiring an instant personal loan at Finserv MARKETS. Manage your money smartly without jeopardizing yours and your family’s financial future.
ULIP vs. ELSS vs. PPF – Which Tax-saving Investment Suits You the Most
If you are looking for tax-saving investments, some of the available options include unit-linked insurance plans (ULIPs), equity-linked savings scheme (ELSS), and Public Provident Fund (PPF).
ULIPs are life policies that combine insurance and investment returns in a single product. ELSS plans are mutual funds that invest in equities and offer tax benefits. PPF is a long-term investment option focusing on building a retirement corpus.
Choosing the right product from many options depends on your current earnings and future financial objectives. Here is these products offer:
These insurance policies utilize part of the premium towards market-linked funds such as debt or equity funds. They do not provide guaranteed returns, as the chosen investments are subject to market fluctuations. You can switch between the various investment options as per your financial goals.
ULIP tax benefits are available under Section 80C of the Income Tax (IT) Act, 1961. Additionally, maturity proceeds are eligible for tax deduction under Section 10(10D) of the Act.
Before you choose to invest in ULIPs, remember that there is a minimum five-year lock-in period. You can use an online ULIP plan calculator to know more about this investment option.
This is a good option if you want to invest in mutual funds and save tax. ELSS plans are diversified funds that invest in particular stocks based on their market capitalization. Almost 65% of the corpus is invested in equities, and therefore, the returns are dynamic and depend on the market performance.
By investing in ELSS, you can avail of a tax exemption of up to INR 1.5 lakh per annum under section 80C of the IT Act. Additionally, the return on investments from ELSS is taxable at 10% without any indexation benefits if the total earnings are more than INR 1 lakh during the financial year.
The lock-in duration for ELSS investments is three years.
PPF is a popular investment option because it offers guaranteed returns as well as tax deductions under section 80C of the IT Act. In addition to the section 80C exemptions, similar to the ULIP tax benefits, the maturity proceeds from PPF are tax-free, which allows you to build a sizable retirement corpus.
The lock-in period for a PPF investment is 15 years. However, you can make partial withdrawals or avail of a loan after seven years. The interest rate is determined by the Government of India and is revised quarterly.
Here are some factors to consider while evaluating the three investment options:
- Risk profile
PPF is a risk-free investment option and is backed by the Government of India. In comparison, ELSS and ULIPs are risky, as these products invest the corpus in market-related investments. If you do not want to assume high risks, PPF can be a suitable investment option.
- Investment horizon
All these three avenues come with a minimum lock-in period. The shortest lock-in period is three years for ELSS investments and the longest is 15 years for PPF. If you are investing for long-term financial goals, such as children’s higher education or retirement, ULIP may be an excellent instrument. You can also use an online ULIP plan calculator to determine the amount you will need to meet future monetary objectives.
- Tax benefits
ULIPs and PPF are exempt-exempt-exempt (EEE) investments where the principal, interest, and maturity benefits are tax-free. On the other hand, if your earnings from ELSS exceed INR 1 lakh during a financial year, these are considered as long-term capital gains taxable at 10%.
Although several other tax-savings investment options are available, you need to consider the changes made to the tax regime in the Union Budget 2020. Moreover, these are relatively popular and safer tax-saving instruments. Before making your investment decision, understand the ULIP plan meaning, and research on PPF and ELSS, to ensure you choose an option that best suits your requirements.
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