The whole world is now passing a crisis moment. It is expected that we are going to face another crisis very soon. Economy is already going to recession. If the world really faces another great depression, a lot of people will loss their job, business firm and industry will shut down, millions of people will stay in hungry and we may have to loss thousands of valuable life.
What should we do now? I can point out some strategies which can be followed to prepare ourselves for facing the crisis.
• Try to cut down your present cost and save a portion.
• Hold a handsome cash in hand or any savings that can be immediately convert into cash. Even if needed to make encash any long term savings, do
it.
• Don't invest in any long term project at this moment.
• Don't buy any luxurious goods for you or your family.
• Don't engage in any borrowing. You should try your best to avoid it.
• If you are salaried, concentrate to your own job seriously so that your organization don't get any scope to release you from the job temporarily or
permanently.
• And finally you should find out some of your own policies to face any serious moment.
You can share your suggestion if any for facing the crisis moment that we are expecting to occur.
I am a salaried person and i live in capital city and my parents live in village. It is very difficult to save from salary after maintaining my family and my parents. Bounty and trade is my another source from where i can earn few money to solve financial support and i am trader so, saving from trade is easy but in the real salary is difficult to save. Purchsing Luxurious goods in this bad time is a day dream for the maximum people for locked down. And Yes, every man should think any innovative idea for overcome this bad time.
We don't know when will this global crisis end or the next crisis will come so we should learn how to save more than just spending our money on unecessary things that don't have any value. I think one thing that will help us avoid from spending our money is to start planting seedlings at our backyard because it can help us sustain our daily needs when our plants start to bear.