Handling money during crisis
Thursday, November 27th, 2008The current financial crisis is hitting every country’s economy in the groin. Corporates across the world are tightening their seat belts to see this phase through. This includes measures of various degrees ranging from removing the free coffee vending machine at the office pantry to waving good bye to thousands of people in one stroke. However what does it mean to the common man? How does this impact him? How can he survive in this scenario where money gets wiped out in a flash? The first basic advice to keep in mind is to clear off debts as soon as possible. Now is the worst time to have debts. Also, make it a point not to enter into new debts, however small it may appear to be. The next thing to remember is to save every penny. Before spending, think twice if that spending could be avoided or is it a mandatory expense