Some Strategies to Face the Next Crisis - page 4.

yohananaomi

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Quote from: bits4books on May 31, 2020, 08:18:27 AM

If the economy has a chance to finally collapse and if it collapses, then no savings will help, but material things is another story. I think it's a good time to buy a house or invest in something else material, gold, etc. Maybe even buy a piece of land and start microfarming lol

in a situation like this all in a state of a dilemma, all the financial mess and can not be managed properly because a lot of expenses rather than income. so that all forms of investment are things that can not be thought of anymore because the need for money to meet their own needs is preferred. all forms of sales no one has ever looked at because now the focus is only on being able to meet daily needs so as not to be stricken by hunger and contracting a pandemic.

mersal

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In simple words, save money and start investing!

No matter whatever happens you need to have enough of savings which is hard if you live from pay to pay check so you have to do some other job along with your daily job to earn money which will increase your cashflow then start cutting down your expenses as mentioned in OP.

FlightyPouch

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Well, some people are advising those people who can afford it to start an online business. I know that it counters some of the suggestions of OP not only the people who will start the business but the people around him but this can help in terms of having a profit in this pandemic. Though here in our province, the GCQ is slowly being raised and that means that the normal days are coming but in the long turn, you can use that business to save and get yourselves ready financially.

k@suy

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Quote from: hahay on May 23, 2020, 08:17:22 PM

If you still get income and also a savings, then it will still be good for the next few days, weeks or months and as long as you can manage your finances more wisely then that is the key to staying safe during a crisis. Well, but the problem is those who have even lost their jobs when lockdown is being applied for the first time, even some families in my country sell their goods or property just to buy food and other things to cover their living costs, because the solution is about sharing assistance from the government and / or donations made is still insufficient to cover the cost of living for the people.

For me , it is better to diversify your fund so that it could be okay. If you don't have extra money do not put all of your money in investment, because at times like this, a fiat is more needed due to the needs of you and your family.

bits4books

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If the economy has a chance to finally collapse and if it collapses, then no savings will help, but material things is another story. I think it's a good time to buy a house or invest in something else material, gold, etc. Maybe even buy a piece of land and start microfarming lol

JoMarrah Iarim Dan

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Quote from: freedomgo on May 25, 2020, 03:06:47 AM

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Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

You can share your suggestion if any for facing the crisis moment that we are expecting to occur.

Use every free minute to educate yourself in any secondary field that could be in demand so that you could switch to it in the case you will lose the primary job. IMO, the coders will always be in demand at the labor market, even at the time of crisis. Also, the good options are the social workers and guidance counselors that will undoubtedly be required.

Any job that can be done online are in demand right now, the world will eventually shift to online job and this pandemic that we are experiencing now has open the doors for the employers to realize that some jobs now are possible to be done online, and there's less cost of doing that so they can minimize their operating expenses.

Yes online jobs will be in high demand, so if we want to make money we must adjust ourself in according to it. Working online require computer or laptop, good internet connection, and of course the knowledge to the job we are going to do. Let us comply with it. Let us choose on where we are best at. Online job is better now because we will be having no interaction with other people and there is no need to go outside to go to the office.

verita1

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Thank you for sharing this strategy that could help face this crisis like the one we are already experiencing. I hope it doesn't get worse, I would add that people learn other skills than they already have to generate a new income. Because the current crisis affects us all equally and we must be prepared to act on the unexpected.

smyslov

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Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

You can share your suggestion if any for facing the crisis moment that we are expecting to occur.

It all comes down to cutting your loss by not overspending and trying to save money and to have foods stock, there might scarcity of foods in your area if things worsen, there are reports that a vaccine is coming up but there are no guaranty of timeline, this pandemic can last for several months and be sure your business or work can survive this pandemic.

PavelMed

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Quote from: deisik on May 29, 2020, 04:42:58 PM

Quote from: rick9327 on May 25, 2020, 01:45:42 AM

Ideally, you should have your own land where you can grow food, where you can take water from the ground, you should have strategic supplies of clothing and other things necessary for the next 5-10 years. I think that this is quite enough to live well even in such a situation

Nah, it's not gonna work out in real life

Unless you also have a good company armed to the teeth and ready to use their arms if necessary. In a Mad Max scenario (which you implicitly refer to here) all your stuffs will be quickly taken by the gangs of scavengers running away from cities, while you will be left praying for life with nothing left to live on. Remember, God is on the side of the big battalions, and may the force be with you!

I don’t think that everything will be only sad for us.
Gangs and seizures ... for this, states must cease to function. I think that this will not happen yet.
But in fact, if there is land, then you definitely will not stay hungry. You can raise birds and livestock. Even if it will be difficult at first, then you will get used to it. And already exchange meat for food. You can live, but it's hard

TheGreatPython

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Quote from: BuNga_cute on May 26, 2020, 06:27:34 PM

Most people around the world are experiencing an economic crisis, we must be able to make strategies to deal with the crisis. I suggest
in a crisis situation like now just buy something important, avoid borrowing money especially from banks, always keep some of the salary
we get and always try to find additional income. That way we can facing the economic crisis that is happening all over the world.

You're right about that, there are companies right now that will be looking for ways to sack their employees and reduce their workforce. So, anyone that's working in an office or company should be serious with their job so that they wouldn't have to lose it. I am afraid about the continuation of such bad consequences because it may go worst in coming day than what we are having right now.

There are already some companies I know that have started sacking some of their employees, so people really have to be careful. And as for investment, I don't think there is any investment that is really short term except cryptocurrency where you can invest and pull out at anytime you want, and moreover you don't even know where the price is heading to next. So, you just have to be sure that you have enough money to invest.

deisik

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Quote from: rick9327 on May 25, 2020, 01:45:42 AM

Ideally, you should have your own land where you can grow food, where you can take water from the ground, you should have strategic supplies of clothing and other things necessary for the next 5-10 years. I think that this is quite enough to live well even in such a situation

Nah, it's not gonna work out in real life

Unless you also have a good company armed to the teeth and ready to use their arms if necessary. In a Mad Max scenario (which you implicitly refer to here) all your stuffs will be quickly taken by the gangs of scavengers running away from cities, while you will be left praying for life with nothing left to live on. Remember, God is on the side of the big battalions, and may the force be with you!

ragavancoin

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Many have lost their jobs due to the present crisis, many are starving without food, better to save money atleast from now on. Do not waste money on any goods, pubs, mall etc. Let's all pray to all to be safe.

aakay

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Some of these points sounds true and i agree with them but some i dnt agree with. Especially where you said something about people who work to earn salaries. Instead of concentrating on how to make your company not release, why not work towards trying to start something that will earn you a little stuff as side hustle while also offering your best to your company

BuNga_cute

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Most people around the world are experiencing an economic crisis, we must be able to make strategies to deal with the crisis. I suggest
in a crisis situation like now just buy something important, avoid borrowing money especially from banks, always keep some of the salary
we get and always try to find additional income. That way we can facing the economic crisis that is happening all over the world.

panganib999

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Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

The whole world is now passing a crisis moment. It is expected that we are going to face another crisis very soon. Economy is already going to recession. If the world really faces another great depression, a lot of people will loss their job, business firm and industry will shut down, millions of people will stay in hungry and we may have to loss thousands of valuable life.

What should we do now? I can point out some strategies which can be followed to prepare ourselves for facing the crisis.

   • Try to cut down your present cost and save a portion.
   • Hold a handsome cash in hand or any savings that can be immediately convert into cash. Even if needed to make encash any long term savings, do
   it.
   • Don't invest in any long term project at this moment.
   • Don't buy any luxurious goods for you or your family.
   • Don't engage in any borrowing. You should try your best to avoid it.
   • If you are salaried, concentrate to your own job seriously so that your organization don't get any scope to release you from the job temporarily or
   permanently.
   • And finally you should find out some of your own policies to face any serious moment.

You can share your suggestion if any for facing the crisis moment that we are expecting to occur.

It is always in need that we are ready for anything unexpected happenings to come just like this crisis we are facing right now. But since most of us have not been ready and fully equipped to face this crisis, may this serve as a moral lesson for us to be prepared the next time that another crisis might come.

I think you have already dropped down most of the necessary we must do to keep ourselves prepared if ever another crisis would come. For us to be able to have some handful of money, we must always be able to save at least a part of our income so that we can have something to spend with at times we need it the most. Avoid buying unnecessary things for a moment unless you have lots of money to spend but it would still be best to always consider spending only for important things first.

peter0425

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Quote from: freedomgo on May 25, 2020, 03:06:47 AM

Quote from: ?? on ??

Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

You can share your suggestion if any for facing the crisis moment that we are expecting to occur.

Use every free minute to educate yourself in any secondary field that could be in demand so that you could switch to it in the case you will lose the primary job. IMO, the coders will always be in demand at the labor market, even at the time of crisis. Also, the good options are the social workers and guidance counselors that will undoubtedly be required.

Any job that can be done online are in demand right now, the world will eventually shift to online job and this pandemic that we are experiencing now has open the doors for the employers to realize that some jobs now are possible to be done online, and there's less cost of doing that so they can minimize their operating expenses.

Yeah thats the way world will do facing the effect of this crisis,Though physical Job will remain in factory and man power corporation but still mane employees will lose their Job when the quarantine ends.

Quote from: rick9327 on May 25, 2020, 01:45:42 AM

Ideally, you should have your own land where you can grow food, where you can take water from the ground, you should have strategic supplies of clothing and other things necessary for the next 5-10 years. I think that this is quite enough to live well even in such a situation.
This doesn't mean that you need to isolate yourself from society. When you are calm about your position, you can do what you do more effectively to improve the position of other people in the world.

But this is impossible if you are living in urban city or in metro's when living gives you small spaces to live.

freedomgo

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Quote from: ?? on ??

Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

You can share your suggestion if any for facing the crisis moment that we are expecting to occur.

Use every free minute to educate yourself in any secondary field that could be in demand so that you could switch to it in the case you will lose the primary job. IMO, the coders will always be in demand at the labor market, even at the time of crisis. Also, the good options are the social workers and guidance counselors that will undoubtedly be required.

Any job that can be done online are in demand right now, the world will eventually shift to online job and this pandemic that we are experiencing now has open the doors for the employers to realize that some jobs now are possible to be done online, and there's less cost of doing that so they can minimize their operating expenses.

rick9327

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Ideally, you should have your own land where you can grow food, where you can take water from the ground, you should have strategic supplies of clothing and other things necessary for the next 5-10 years. I think that this is quite enough to live well even in such a situation.
This doesn't mean that you need to isolate yourself from society. When you are calm about your position, you can do what you do more effectively to improve the position of other people in the world.

hahay

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If you still get income and also a savings, then it will still be good for the next few days, weeks or months and as long as you can manage your finances more wisely then that is the key to staying safe during a crisis. Well, but the problem is those who have even lost their jobs when lockdown is being applied for the first time, even some families in my country sell their goods or property just to buy food and other things to cover their living costs, because the solution is about sharing assistance from the government and / or donations made is still insufficient to cover the cost of living for the people.

bithisach

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Quote from: jackg on May 10, 2020, 12:36:38 PM

I think for most people this will either be what they're already doing or what they can't afford to do so I'm not certain how helpful this advice may be...

I would say investing in long term investments is a good idea for SOME people now and some people will have guarenteed income (most people also have severance and redundancy packages of they're on salaried income and lose their job - it's just new workers will be hit quite hard by this)...

Don't disregard info, someone might find this useful! Maybe not you, maybe not me. But someone may, let's keep an open mind!

Topic: Some Strategies to Face the Next Crisis - page 4. (Read 1425 times)