200 % truth there ...
I myself took a 30% cut on my variable pay while my company shamelessly announced 8000 crores profit...
Problem is people were living hand to mouth exitance despite making good money... easy Loans / EMI's all made it up ... not bad per se but a contingency fund was missing on everybody's portfolio... I typically keep 10L in my MF portfolio for such un-foreseen situations.. learned this hard way when my son had a major health scare and i was at sea thinking where do i get 10 Lakh for his hospital procedures... In a way this situation will force people to re-prioritize the imp of such funds.. Borrowed money is easy money but kills u in ling run.. In my 40's , i still prefer to stay on rent... had a small plot to build home on and collecting funds to ensure i don't have to take a loan to build it... may be i will be late by few years but atleast i won't have the sword of loan on my head..
My father's 2 friends have perished till now .
Yesterday 6 died as posted in employee what's app grp
Those 2 friends , both muslims one of them married late , has 2 boys both very young.
Elder one is in class 8th.
After he died , my father checked his account balance (he works in bank ,in vigilance department) was just 1 lakh.
Same thing he financed his brothers education , finally after he took a homeloan when everything seemed good.
Then he passed away , leaving behind wife and 2 sons.
His wife will get some money , afterall government bank it is but he could not even move in his new home