Question

You are required to write an abstract and title using the below information. Submission requirements:

- Word length: 300 words (strictly enforced) -

-Information -

A number of case studies using data about disasters that had significant economic consequences were undertaken by the researchers, and these studies looked at the investment advice provided by the Home Budget Management System and whether it actually proved to be accurate.

- In this paper a new Domestic Budget Management System called the Home Budget Management System is proposed

- The Home Budget Management System figures out when it is really important for households to conserve funds and gives them accurate advice about how to do this as well as about safe-harbour investments in a crisis and this makes the home budget’s resilience to unanticipated events like the COVID-19 crisis, stronger.

- For homeowners to be able to insulate themselves from the worst of a crisis, they need to know when a crisis has occurred and how they can conserve funds and what strategies can enable them to achieve this. They also need to know about any safeharbour investment options that might exist at that precise time.

- It was concluded by the researchers that the Home Budget Management System helped build households’ resilience to economic crisis caused by disaster by directing when funds needed to be conserved and predicting how they could be best invested in safeharbour investments at critical moments, accurately.

- We are facing a global climate of increasing risk of disaster and the accompanying risk of economic consequences. The COVID-19 crisis has been a good example of this. We need to build up household resilience to economic disaster

- When to advise homeowners to begin insulating themselves is decided automatically by the Home Budget Management System. The Home Budget Management System undertakes really good and thorough monitoring of real-time data on global disaster occurrence.

- As disasters occur it is useful for households to be able to access accurate information about the risk of the economic fall-out accompanying a given disaster so that that they can make decisions about how to best insulate themselves and build resilience

– Domestic Budget Management Systems can help them do this.

Answer 1

HOME BUDGET MANAGEMENT SYSTEM

Budget management is an important financial aspect. Budget is a plan of action which is prepared taking into consideration on a given situation. On the other side, disaster is an unforeseen event which can occur at any given time.

To have a secured financial investment is quite an achievement. But to plan a financial investment to unforeseen disaster is quite a challenge. A study was conducted by researchers based on the disaster data available and the impact it had on economic consequences of household people.

The researchers had come to the conclusion that household owners can be insulated from unforeseen disaster in a better way. The world is in the midst of global climate change and the impact it has on nature. Pandemics and natural calamities are increasing making their presence being felt to the mankind.

The researchers feel that Home Budget Management System can help the household owners from economic crisis by directing their funds and investment into proper and safe channels. On the basis of real time data on global disaster occurrence funds can be invested and used for their resilience. The Home Budget Management System guides homeowners as to how to insulate from worst of a crisis. They help them devise strategies to overcome the crisis. Covid 19 is an example of unforeseen crisis that has gripped the world into economic and social disaster. In such unforeseen events this system can help insulate the homeowners financially and help them to build resilience.