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What We Can do Facing this Economic Crisis.

We all know now that the crisis is right here in front of us.

 

World Oil prices are reaching the heights higher than ever before. To save the national budget the government increased the petrol prices. This causes cost of distribution to increase, which will then increase the prices of daily goods and services. When the prices are higher this means people are holding more money then saving it in the bank. This is what you call inflation. When inflation occurs, the value of money that we are holding gets lower. Cost of living is getting higher each day.

 

But did you know that there are some people that aren't effected by the crisis ?

 

Should we go out and join civilians in demonstrations that strike against fuel increases? We can do that. But we will only add one person to the demos. And would the government change their mind lower again the price? I think not.

 

Let's see what is relevant for us to do. And let's see what we must think now and to the future. We know our salary or our income is not increasing while our expense is getting higher.

 

The answer is : INCREASING OUR FINANCIAL DURABILITY SO WE COULD WITHSTAND ANY CRISES.

 

Easy for me to say, but that's just about how to get around with the problem. If we can not increase it than at least try to understand how we can achieve it and start changing our mindset, especially in personal financial management.

 

Ways to start achieving this are such as:

-         Start changing our perception on how to earn income

-         Start changing our perception on investments

-         Get the required knowledge to improve our financial intelligence

-         Start considering knowing how to earn passive income and residual income that can cover our expenses.

 

 

So here are some easy steps that might be of use.

First of all start thinking of something that you can do that could earn money. Don't think of earning big income; just think of small money to cover just one of our expenses. For example our transportation costs.  

 

If you live in the states and the average monthly transport costs are around $ 200, isn't there any side job that I can do earning that much. Look at your strength ness you must have some skills. Some examples of side jobs are: part time translator, freelance marketing goods and services, sell items in eBay, etc.

 

Sharpening your entrepreneurial spirit and building your small business is not just getting some additional bucks but also a practice before you reach pension if you are currently an employee. 

 

Belajarekonomi.Com

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