Posts Tagged ‘20 Keys to Surviving A Financial Crisis’
20 Keys to Surviving A Financial Crisis IV
16 – Start your own business is an exit to the crisis:
Many people lose their jobs in a crisis or, their source of work does not help meet the needs it has. Create a venture, well planned for the future and building on emerging market needs can be a very good idea to go through a crisis.
There are several companies founded in times of crisis today managed to stay afloat (especially in Argentina after the 2001 crisis). A company set up in a complicated time and that it is victorious, has great potential for future growth, by improving the global and local situation.
17 – Not enough to reduce costs. It is also necessary care; increase and diversify income to offset risk and increase opportunities:
In times of crisis we can reduce our expenses, we can not reduce is that things are improved and everything will be increasingly expensive, especially talking about needs. That’s why we need time to care, increase and diversify our income to minimize any kind of risk in the present and projected future. Read the rest of this entry »
20 Keys to Surviving A Financial Crisis III
11 – Funding for consumer spending can distort the economy and create personal traps which then is difficult to escape:
Recall that in times of crisis are many so-called “opportunities” to consume products or services, that even with the ease of credit cards, may affect our future. Remember to be rational rather than emotional, not to fall into some traps that could complicate our situation later.
12 – Monitor your investments offered by the market allows, after the crisis decant, to take advantage of opportunities:
As mentioned earlier, it is important to be aware of the whole situation to take advantage of opportunities. Many investors sell part or all drastically their investments (whether bonds, stocks or other instruments); us to be being rational and monitor everything we can see the real opportunities and exploit the crisis to be winners tomorrow.
13 - Should keep some cash savings, in a combination of legal tender coins and hard currencies, and in a safe but accessible: Read the rest of this entry »
20 Keys to Surviving A Financial Crisis II
6 – Recommendations to improve the personal finances are the same in situations of crisis or stability, but in difficult times become a necessity:
Many councils are the usual advice at any time in our lives helps us keep track of our finances, either have a balance sheet or perhaps a financial plan. It happens that in times of crisis, become a necessity to have this kind of control over our finances, to lower all risks.
7 – Businesses often make extraordinary efforts to survive the crisis, do not be tempted by the promotions and keep the focus on what you need:
As I said earlier, the crisis hit us all, including businesses, that is why they need at all costs keep customers or attract new clients. At this point leave the 1001 promotions, but nuestrasfinanzas are also at risk and therefore we must focus on needs first, then in our future and then analyze whether we can just taste or not.
8 – If before the crisis can be triggered expenditure and income be reduced or suspended for a time, personal wealth is the one who suffers the consequences. It is necessary to take measures to protect:
It is important above all things, seek legal instruments that will protect our heritage of any kind of risk. So to avoid debts or out of, is included in this aspect. It is important to make sure everything is in order, the goods declared as appropriate and necessary tools to protect our heritage (The house we live in, for example should be declared as “Good Family”) Read the rest of this entry »
20 Keys to Surviving A Financial Crisis I
The tips are summarized below, to which my little sumo are no comments for better understanding:
1 – The impact of the crisis in your personal finances depends on your situation:
The crisis will have greater or lesser extent (including visibility) at the time of our life we are living, our savings, our debts and the level of income and expenses are going through, plus the ability to manage our personal finances.
2 – To adjust must first make a diagnosis:
Like a doctor gives us a remedy for a disease to survive a crisis and make the necessary adjustments, it is important to diagnose our personal finances. We analyze income and expenses have to make effective adjustments.
3 – It is important to stay informed:
In the information age who has information has power. In the blog I spoke earlier about the importance of being informed and today we remember to pass through a crisis is important to be informed in every way. We were interested or not, a crisis touches us in some way or another. Read the rest of this entry »