It just so happened that women love to spend money, not save it. Well, at least most. We consider shopping to be one of the most effective ways to deal with stress, because often new clothes can restore our peace of mind, cheer up and relieve us of sad thoughts. But it is not always possible to pamper yourself, and in a financial crisis, squandering is an unaffordable luxury. As unfortunate as it may sound, you have to save. Analysts urge to remain calm and not make annoying mistakes during this difficult period.
Life is a changeable thing, everyone has ups and downs. Recently, there has been continued talk about the global crisis, which covers all new areas. The currency is becoming more expensive, prices are growing like mushrooms after rain, banks are going bankrupt. We are scared that soon specialists will be replaced by robots and people are panicky afraid to replenish the army of the unemployed … It's sad when finances sing romances, but economists give valuable advice on how to act in this situation and wisely approach spending. At least they know exactly what they shouldn't do. Namely…
Ignore the problem
It will be very helpful if you reconsider your expenses. What's the saying? The kopeck protects the ruble. And it's true. Think about how much money is spent on something that you can completely refuse. Forget about spontaneous purchases - we take only what you need and strictly according to the list.
Of course, it's nice to delight yourself with trips to the restaurant on weekends, monthly wardrobe replenishment and regular travel. If necessary, you can save a lot if, at least for a time of difficulties, you stop wasting money.
Go global economy
The opposite extreme, which experts also advise not to go to. Switching to bread and water, living according to the principles of Balzac's Gobsek and just thinking how to save money, giving up all the benefits of life, is a bad approach to surviving a crisis. And the total limitation negatively affects the psychological state, which entails a decrease in work productivity.
New clothes, gadgets and jewelry may well wait until better times, but normal food, medicine and training should not be abandoned. In stores, it is advisable to stop overpaying for brand awareness and pay more attention to goods with discounts and sales.
Buying up currency after rate appreciation
Many are still reeling from the dollar's explosive surge in 2008. Those who had foreign currency loans especially suffered. Now we know that the exchange rate can sharply double, therefore, with any fluctuation, we run as fast as we can to stock up on American banknotes. But often the jump occurs at the peak of the crisis, and then the value of the dollar drops sharply, which leads to unwanted losses. Financiers advise buying a currency at its minimum value, and not as soon as it flies up.
Make bulk purchases of goods
Many of us have a "stash" for a rainy day - we plan a trip abroad, save up for a car or for a mortgage. So, it is this money that many people spend after the jump in currency on household appliances and a six-month supply of food. Well, of course, suddenly everything will go up wildly and tons of buckwheat, canned food, salt and sugar will help protect you from hunger. But sellers in a crisis are trying to hike prices and earn even more, because they are promoted by the excitement. As a result, unnecessary things are gathering dust in your house, and the expiration dates of the provisions are about to expire.
Get rid of or buy real estate
As a rule, it is unprofitable to sell houses, apartments and summer cottages during a crisis, because buyers will deliberately try to lower the price. And demand will fall. Why get rid of real estate for next to nothing? If it’s too hot, it’s quite an option - to rent it out, this is a great way to get additional passive income.
Buying housing in a crisis is also not the best solution, because its supposedly maximally reduced cost may fall even more after a wave of panic. Anyway, experts very carefully recommend approaching large spending, because the investments are significant, and the benefits may be minimal or completely absent.
Withdraw deposits urgently
Yes, banks can close, but not all financial institutions will suffer this fate. It is fundamentally wrong to run off savings from deposit accounts and then keep them at home. Money depreciates, because no one has canceled inflation, and thanks to deposit insurance, you can always count on compensation.
Invest in unpredictable assets
There is no need to invest in something that you know little about. Yes, we all heard that cryptocurrency helped someone to become a millionaire, like buying up stocks / bonds, someone opened a super-profitable business and became fabulously rich. But risking in a difficult period is more expensive for yourself, because assets can become cheaper and devalued. In any case, risk should be taken as responsibly as possible; in a crisis, it is often not justified.
Count on loans
It makes sense to use credit funds only if you are sure that you can return the entire amount on time. But here there is a catch - we take, as you know, someone else's money for a while, but we give ours and forever. It is more difficult to part with cash, but we are ready to dispose of "invisible" funds much easier. As a result, you will have to deduct a lot from the salary to pay off the debt - it is better to leave a credit card as a last resort and rely only on your hard-earned money.
And finally, remember that time is money. It is good to spend it wisely. Watching TV shows and parties are undoubtedly enjoyable, but it’s time to do, fun for an hour. Try to increase your own value in a crisis - devote time to self-development. Professional development courses will be an excellent investment in the future, because new knowledge will increase your value in the labor market, help you earn more, so that no crisis will certainly be terrible.