Team-BHP > Shifting gears

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Old 4th May 2020, 13:26   #16
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Default Re: Pause & reflect: How will your life change after the lockdown?

The outlook on the life ahead is going to be very different based on what you are. If you are a family man with kids like me, it's definitely not 'as usual' even if there is a vaccine or treatment.

1) Investments- Taking a relook at the liquidity in the time of need. For eg. I don't keep much cash, I will probably have more cash at home may be even USD for a cushion. I also had a relook at the longterm and short term funds.

2)Social distancing- We were not very social earlier too, very few social event attendance or home functions including others. This will continue.

3) Grocery Shopping: We always thought of having a separate storeroom and having essentials bought from Metro like stores for a month. But we continued on weekly grocery shopping, this will be relooked at. I need to have the stuff to survive a month at home. Lockdowns or instability due to neighborhood disturbances is going to be there.

4) Debts:
Paying up the loans when funds come in, expenses like international trips are going to take a back seat for a year.

5) Home to be WFH equipped-
That means big monitor, webcam and AC in the working area. Currently, we have just laptops and sit on any table available.

6) Restaurant food - not much change I guess. We will order and eat at home more than going out to avoid unclean utensils. But cannot completely avoid it. No uncooked food though - No Salads, chats, cut fruits, juices for some time.

7 Travel mode - Drive to the destination as much as possible and avoid the interstate bus, train, and flights. Also, I am not going to wait until the reserve fuel lamp to be on for refueling. (wife was always right in this!!)

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Old 4th May 2020, 14:19   #17
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1. Focus on savings (had not given much importance till now)

2. Further clarify needs and wants

3. Adapt to newer models of business in my field

4. Rethink different thoughts I had on life
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Old 4th May 2020, 15:02   #18
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Default Re: Pause & reflect: How will your life change after the lockdown?

Change is the only constant in life. And I quite believe in it. I am seeing my self taking a tangent to my spending. It has shifted from "lets have this!" to " Do I need this?"

Credit card bills are at all time low, quite happy at that front. Did not realize I am still paying for purchases done a year back! Courtesy: zero percent EMIs.

What next?

a) I really felt the need to analyze myself and what I have been spending on. Working middle class family, like me is really dependent on the salary we get at the end of every month.

b) Family first. Recreation is okay, but then we all have to meet ends. And for that, like I said above, I have changed my thought process towards the essential things I need to survive. And saving for my little one.

c) Life is all smooth until a gush of wind changes things drastically. We need to be more prepared for all hits and misses in life.
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Old 4th May 2020, 15:04   #19
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Default Re: Pause & reflect: How will your life change after the lockdown?

35% of your investments getting wiped out in a month is no joke, i had my sleepless nights but i've come to terms with it and that phase is over now. Lesson learnt was to diversify funds further - Equity, Debt, Gold, VPF, FD & Savings Account even if growth slows. Before the pandemic it was mostly Equity.
Growth <<<< Sustaining Life

Working in one of the BIG 3 IT Majors in India has had its perks during this lockdown. For 45 straight days was benched as our client didn't agree for WFH due to confidentiality of data, but was paid by my organization in full. My trust has gone up a notch on my organization. At the time of writing this post, work has resumed in office premises with limited staff (30%). Lesson learnt was to have secondary income source, as i dont wan't to be on the mercy of someone else on a rainy day. Have been exploring such options well before the pandemic hit, though on the backburner. Now it has my full attention

Dining Out & Entertainment:
A strict no-no until vaccine is out and widely available. Have realized i'm not missing either of them much. Zomato/Swiggy can easily fill in the shoes of Dining out and Youtube/PrimeVideo/Netflix/Zee5/Hotstar/SunNxt/Discovery+ are more than enough for our entertainment needs. Airtel Fiber is solid and never let us down in the past two monts of extreme usage (we watched atleast 100+ Movies & TV Shows in this lockdown period!). DTH only for News and wifey's favorite Reality shows

Family & Travel:
Family comes first, no second ways. Spending quality time with your loved ones without the onus of the Sunday night phobia approaching is what dreams are made of. We learnt what exactly is essential and needed, will cut down on all the unnecessary crap we were buying and shoveling in our house. Visiting family and extended family in our hometown will now be a priority. But weddings and crowd gatherings must take a pass. Avoid them at any cost, if not your Son/Daughter, Brother/Sister, In-Law is getting married, there's no need to risk yourself to attend that Uncle son's wedding 450kms away. Can visit local temples on non-crowded/ non-special days, no visiting Religional Epicenters like Tirupati, Puttaparthi, Palani etc.,. either.

Last edited by RYP : 4th May 2020 at 15:23.
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Old 4th May 2020, 15:34   #20
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Default Re: Pause & reflect: How will your life change after the lockdown?

How will your life change after the lockdown?

Personally, I really do not see much changing in my life! Savings + investments + Alternate Income Sources -> They have all been with me for quite a long time now. Will certainly look to expand on those supplementary income sources while still keeping the life balanced without straining much and losing sanity.

Needs vs Wants: I see no challenges on that front. As far I can tell, they are well converged for me! Thanks mainly to the books I read early in my college days about value investing and ideas from Munger, Buffett, etc. I do still read them - Charlie's Almanack; Ben Graham; Peter Lynch; and other books such as on behavioral economics by folks like Kahneman...

I think one place where I will be putting further thought into - ways of further insulating myself from the government/state proclivities. To a large extent, the mushrooming of apartment complexes in all cities is, imo, one way folks are (sub)consciously insulating themselves and taking matter in their own hands (water issues; electricity issues; garbage segregation and disposal; security; etc.). Plenty more we may need to do to be more or less unaffected by any questionable-decision-making.
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Old 4th May 2020, 15:41   #21
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Default Re: Pause & reflect: How will your life change after the lockdown?

  1. Started loving Home-cooked meal
  2. Avoid Domestic/International air Travel this year.
  3. Have decided to rely more on the car for outstation trips (Visiting Native).
  4. No more cinemas at the theatre for some time, have subscribed to most of the online platforms.
  5. Invest more on WFH set up, a new screen, furniture etc.
  6. Concentrate on improving health- Meditation, exercise at home, strictly no gym for some time.
  7. Cash is king- Save cash as much as possible, was about to buy the RE Interceptor, postponed for two years more.
  8. Grocery Shopping- Local Kirana as far as possible.

Last edited by rakesh_r : 4th May 2020 at 15:51.
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Old 4th May 2020, 16:13   #22
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Default Re: Pause & reflect: How will your life change after the lockdown?

There is a possibility that the virus may disappear in the next few months, taking away all the social distancing norms with it. After all, this is not the only virus that ever struck mankind, there have been others. The real lingering impact will be on travel, tourism and hospitality for the next few months. In my opinion, the government must focus on that sector. Everything else will be pretty much back to normal. And of course, commercial realty will be impacted if other corporations start following the likes of TCS. The upshot is that owning a home will become a priority again, as people cannot risk staying in rental places in case of issues during the next pandemic. So residential realty will swing back.

Last edited by fhdowntheline : 4th May 2020 at 16:14.
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Old 4th May 2020, 16:37   #23
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Default Re: Pause & reflect: How will your life change after the lockdown?

In my opinion, we will see the aftermath immediately after the lockdown is lifted. People will be extremely wary when it comes to moving out of the house. Slowly but surely life will get back to normal, the way it was in January 2020. Economic activities will take centre stage once again and people will start ditching social distancing and possibly even masks by the end of this year. I find the use of masks to be more hazardous simply because majority of the masses don't know how to use it and will continue with the same mask for days. As rightly pointed out by a few members here, once the vaccine is out, COVID-19 will just be another curable virus.
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Old 4th May 2020, 16:39   #24
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Default Re: Pause & reflect: How will your life change after the lockdown?

This lockdown has given me the time to closely examine our family's lifestyle. We have suddenly realised how much money we were spending on eating out. It shocked us. Secondly, I have come to the realisation that my cash buffer is low.

Post lockdown, going out for eating will reduce drastically. That money saved will be put away in a basic S/B account in a PSU bank as an un-spendable cash buffer.
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Old 4th May 2020, 17:54   #25
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Default Re: Pause & reflect: How will your life change after the lockdown?

  • No weekend trips to malls and Ikea - I have been at home since the end of February now since my office declared WFH earlier than most places. I really have not missed going out as such. I have a really good department store near my house and like making good food so I just buy stuff and cook at home. I cannot believe why we had the urge to "enjoy" over the weekend by going to crowded malls and wasting so much money.
  • Investing in Stocks - I will talk to friends and invest in stocks over the next few months when the market is low. Blue-chip stocks will rise. FDs were my only source of investment but have to remedy that now.
  • Purchase additional medical insurance - I have been relying on company-provided medical insurance but have to change that since I am nearing 40. My friend took a good one from HDFC and I plan to do the same.
  • Invest more in spirituality and self-transformation - I have been doing it bit by bit over the year but plan to accelerate this year.
  • Connect more with friends - I am generally very happy with my family and my books. That changed over the past month when friends I have not talked to over 10 years reached out and connected. I plan to keep in touch with them.
  • Drive to Indore and eat in Khau Gali - Has been a long term dream and will do it after the pandemic says goodbye.
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Old 4th May 2020, 17:58   #26
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Default Re: Pause & reflect: How will your life change after the lockdown?

  • Reduce expenses.
  • New car purchase put on hold for couple of years.
  • No international travel for a year.
  • More WFH. Spend more time with the family. I have realized that taking at least one meal together makes a huge difference.
  • Learn cooking. At least should be able to take care of Breakfast,Lunch and Dinner by my own for a day!
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Old 4th May 2020, 18:36   #27
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Default Re: Pause & reflect: How will your life change after the lockdown?

I am considering year 2020 as "survival year" from mentally, physically and financially. Hope 2021 will start with normal activities.
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Old 4th May 2020, 18:56   #28
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Default Re: Pause & reflect: How will your life change after the lockdown?

What I learnt from past 1 month,
If we buy only needs the economy collapse !!


1) No new big expense in next 12 months.
2) Heavy WFH for me in next 12 months. Wonder how my car will feel ? All accessories upgrade plans cancelled.
3) Bhutan Holiday cancelled. My wife agreed too
4) 16 MBPS Airtel fiber net is capable enough for running HD videos on 50 inch TV and 2 VDIs on laptops simultaneously.
5) Its possible to live without tobacco.
6) Work from Home does have credibility.
7) Revised Financial Planning.
8) Health comes first to boost immunity.
9) Budget reserved for a new Laptop.
10) Many master chefs in making.
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Old 4th May 2020, 18:59   #29
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Default Re: Pause & reflect: How will your life change after the lockdown?

It's over 5 years since I got my credit card. Out of these many years, March-April statement was the lowest ever till date.

This lockdown and associated challenges have helped me differentiate between 'needs' vs 'wants'. That doesn't mean I was a spendthrift by any means. I never skipped my card's payment as well. I am always conservative when it comes to shopping/living luxury etc.

Spending will see a big change from now. Every effort will be made to conserve cash and cut down on unnecessary cost!

Last edited by bluevolt : 4th May 2020 at 19:02.
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Old 4th May 2020, 19:30   #30
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Default Re: Pause & reflect: How will your life change after the lockdown?

I believe the corona-virus is the biggest lesson to all humans, workers, capital owners, debtors that consumption, economy, business, salary, wages, profits, savings graph is not a rising graph always.

This phenomena will teach us to always be prepared for a sudden onset of uncertainly long "rainy season".
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