Tips – Financial Crisis Part 1
1 - Impact of your personal financial crisis depends on your situation:
This crisis will have a greater level or smaller (including visibility) at the time we live our lives, our savings, our debt and the level of income and expenses are going through, plus the ability to manage our personal finances.
2 - To set must first make a diagnosis:
Like a doctor giving medicine for the disease to survive the crisis and make the necessary adjustments, it is important to diagnose our personal finances. We analyze income and expenses (Thing to talk on the blog) to make effective adjustments.
3 - It is important to stay informed:
In the information age that has information has power. In previous blogs I talked about the importance of information (Click here) and today we remember to pass the crisis it is important to be informed in all things. We were interested or not, the crisis touches us in several ways.
4 - Nothing is immune to global crisis:
We can more or less ready for the global crisis, but it touches us … we are playing. If you do not take personal control of our economy, and we lost a lot of endangering our future.
5 - At the critical moment came to light bad habits:
Many times when we are at the wrong time, began to see the light of bad habits that we were better when passed unnoticed. It is therefore important to have your eye open to check the bad habits of good habits. (More here)
6 - Recommendations to improve the personal finances is the same in the context of crisis or stability, but in tough times become necessary:
Many councils typical advice at every moment in our lives helps us to track our finances, both have the balance sheet (Click here) or perhaps a financial plan (click here). It happens that in times of crisis, into the need to have the kind of control over our finances, to reduce all risks.
7 – Business is often made tremendous efforts to survive the crisis, do not be tempted by the promotion and stay focused on what you need:
As I said before, the crisis hit us all, including business, that’s why they need at all costs retain customers or attract new customers. Currently 1001 campaign to go, but we are also at risk of financial and therefore we should focus on the needs first, then in our future and then analyze whether we can only feel it or not.
8 – If before the crisis can be triggered expenditure and income should be reduced or suspended for the time, personal wealth is the people who suffer the consequences. This is necessary to take measures to protect:
This is important above all things, seek legal instruments that will protect our heritage from all types of risk. So to avoid debt or outside, including in this aspect. It is important to make sure everything is in order, items and stating the appropriate tools necessary to protect our heritage (our house to stay, for example, must be certified as “Good Family”)
9 - impulsive behavior can lead to sell assets, income or risk making a drastic change in investment portfolio:
We see in the movies and in real life before the crisis, leaving thousands of investors to sell everything they have for fear of further loss; occur largely by the action falls. Therefore need to recognize that we are going through a crisis and trying to not impulsive in our investment portfolio, but rather as rational as possible to avoid losing everything. Many stocks fell and then rose in the long term, our mistakes will be buying high and selling low, and when we can be rational in the future, to sell more expensive or cheaper than in times of crisis.
10 - Assembly budget with estimated future costs and to follow, recording actual expenditure:
On the blog we talked about keeping our balance sheet by checking the monthly revenue and expenditure, but also goes well with the time to review all very good things den. We estimate we will spend a certain amount of food, but then if the number of “real” is higher which means more money is being removed from some other category or even savings. Because it is necessary to measure this well.
Tags: