AN IMPACT OF COVID-19 ON THE FINANCIAL WELLNESS OF SALARIED CLASS : A STUDY OF AURANGABAD CITY

Miss. Minu Mathew; Miss. Samiksha Bali; Prof. Hrishikesh Kakde

doi:10.17605/OSF.IO/3JXWG

Authors

Miss. Minu Mathew BBA First Year Student MGM Institute of Management & Research
Miss. Samiksha Bali BBA First Year Student MGM Institute of Management & Research
Prof. Hrishikesh Kakde Assistant Professor MGM Institute of Management & Research3

DOI:

https://doi.org/10.17605/OSF.IO/3JXWG

Keywords:

Financial Wellness, Employee’s productivity, personal finance

Abstract

Financial wellness entails efficiently managing your finances and preparing yourself for unexpected events in the future, as it gives a sense of attaining financial freedom and security. This research paper focuses on the financial wellness of the salaried class, who trade their time to generate money for themselves or their families. In this research paper, the researcher examines and proves the ways to combat financial wellness during the COVID-19. How COVID-19 has caused problems and had a significant impact on the salaried class? And why is it vital to research this issue and steps to be taken to achieve financial wellness?

The main purpose of the researcher is to first assess the impact of COVID-19 on financial stress and examine the impact of COVID-19 on personal finance. The research work is based on secondary data collected from various sources during the last three years. The researcher also considered earlier studies published prior COVID-19 situation and post COVID-19 situation studying the financial wellness of an individual and trying to compare the same. This research paper is an effort lead towards analyze the implication of financial wellness on salaried classes which makes them more productive, happier, and wise decision-makers.

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