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Recommendations for the Financial Crisis
When we are in a very difficult time when the economy has a high volatility, prices rise, unemployment increases and decreases bank credit or low, among other things it is good to consider some basic recommendations about our personal funds or managing our money.
You never know how the crisis will affect us, maybe we are lucky enough that we do not impact on anything but just in case we need to establish a strategy in relation to our funds and our behavior related to financial management.
The first is to pay off any debt you have about not cease payments or allow interest increase. To this date must pay debts that we maintain with our creditors.
The same applies to the credit card you have to pay on the corresponding dates and the respective shares. Failure to comply will be huge interest and we will pay dearly.
If we have generated savings as it is a good time to do two things:
If we have a debt we can take any bonuses there before debt by paying it off or if we do not have any debt because the best we can do is save the money for the months ahead in order to have a “cushion” for any problems we may have .
Best not to make excessive and unnecessary costs because with this we can save extra money that accumulate as the “savior mattress.” Less is still time to get involved in business ventures involving risky or too much risk in a very unstable time. We have to wait for a better time to risk in any investment.
It is a time to look after the job is important and if you are looking to change jobs for better first get yourself a job and then another alternative you can change.
This does not mean that if we do this we may be saved but at least are better ways to warn us in difficult times.