While hygiene remains the prerequisite towards leading a healthy life, it is not enough in itself. To be able to withstand the uncertainties 0f life, you need to build stronger immunity. It stands true for your physical and financial well-being.
When it comes to building immunity for health, you can consider the following steps:
Get vaccinated:
Vaccines help build immunity by mimicking the disease in some ways. You should ensure that your child gets all the vaccines prescribed by your doctor. Additionally, you should get vaccinated for specific diseases before travelling to an area that is more susceptible to a given disease.
Exercise regularly
Experts advise that you should exercise for at least 30 minutes each day. If, for any reason, you are not able to take out 30 minutes at a stretch – try to exercise for 10 minutes in three separate chunks through the day.
Practice getting good sleep every night. Most people need about seven to nine hours of sleep per day. Just like you schedule your work and meals, make a schedule for sleep as well.
Have a balanced diet:
A healthy diet not only reduces the risk of chronic illnesses like cardiovascular disease, diabetes, and obesity, but also helps reduce anxiety.
Keep your stress levels under control.
Stress can weaken your immune system. Add calming activities to your schedule. It could be any hobby that you enjoy – cooking, sketching, baking, solving puzzles, or anything else.
Building financial immunity may seem to be a little tricky for some. But worry not. Here are a few simple tips that can help you do just that:
Invest for the long-term:
Saving is a good start, as it builds up into a habit. That does not mean, you let your money sit in one bank account though! You should make it work for you by investing for the long-term. Invest in equity to beat inflation, but understand the risk-reward relationship. As a rule of thumb: if your age is x, invest (100-x)% of your portfolio in equity and the rest in safer debt instruments.
Get adequate insurance cover:
Think of insurance as a vaccine for your financial health. Your family depends on your support to fulfil their dreams and maintain a lifestyle. Life insurance ensures that they continue to be financially independent, even when you are not around. Similarly, a health insurance cover for your family lets you deal with any medical emergency without burning a hole in your savings.
Diversify geographically
The impact of macroeconomic crises is usually geographically limited. Even though the crisis occurs on a larger scale, the impact may vary from one place to another. Therefore, you should diversify your assets geographically as well. It will protect you against domestic volatility.
Invest in Yourself:
This is by far the most important investment you can make. To make yourself financially immune and to ensure that your earnings are robust – you must strive to acquire new skills to match the needs of the future. Further education helps not only ensure that your earning keep expanding, but also that your career stays recession-proof.
It takes time and effort to build financial immunity. But the benefits speak for themselves. Have a plan to improve continually, and you will find that it soon becomes a habit.
Prathamesh Mahadik.
8286969980
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