How are you doing? Here I found very good article regarding managing finance during slowdown. I hope it this will help you in to manage future decade for your career and finances. Also, Let’s hope Indian economy will continue performing good and survive with global economy crisis.
We’ve learnt our lessons the hard way. But rather than wait for the next
recession blow, one can play it safe. Sanjeev Sinha ( The Economic Times)
10 points that can equip you to deal with similar situations
THE OVERALL impact of the financial meltdown, which is certainly huge, is
now evident across the world. Particularly, the pain of job losses and drop
in savings is being felt everywhere. This, in turn, has instilled a sense of
fear and cynicism in the minds of investors globally. Still, while we are
making vast efforts to extricate ourselves from the current crisis, little
effort is being made to prevent the next one. Rather than wait, however,
there are many things which can be done now to avoid another crisis, or at
least cushion the blow when it comes. Listed below are 10 personal finance
lessons we can and should learn from the meltdown:
CONTROL EXPENSES & STICK TO THE BUDGET
You are more likely to face financial problems, if you have been extravagant
in your expenses. However, in a bid to tide over the current crisis and also
avoid such crises in future, you need to adhere to some financial
disciplines, and making a budget and sticking to it is one of them. Sticking
to the discretionary budgets, in fact, can help you handle the uncertainty
in the non-discretionary expenses.
Identify the type of the conflict – this first step is very important because each type of conflict (interpersonal conflicts, intergroup conflicts, interest conflicts, value conflicts, relationship conflicts, emotional conflicts) needs a certain strategy.
