Some Strategies to Face the Next Crisis - page 6.

kawetsriyanto

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

a lot of people will loss their job, business firm and industry will shut down, millions of people will stay in hungry

This has happened already in my country, Covid-19 caused thousands of people fired and they have no jobs right now. Previously, most of them are working in private companies. In many cases, companies cannot survive because they have no activities, no income. They cannot afford to continue to bear the salary of workers. So, the solution is mass layoffs or massive reductions in the number of workers.

The solution:
- People must find out alternatives jobs during the pandemic. The most reasonable alternative is working online. Learning what online jobs that are suitable for them. Also, the government should support them to find out proper online jobs.

Febo

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

Some Strategies to Face the Next Crisis

You should live totally same as you did in 2015 and 2019 with Bitcoin. Spend only what you need to spend. Old bread and water. With all the rest buy Bitcoin.

Kasabus

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Quote from: Malam90 on May 13, 2020, 10:14:44 AM

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.

I am a salaried person and i live in capital city and my parents live in village. It is very difficult to save from salary after maintaining my family and my parents. Bounty and trade is my another source from where i can earn few money to solve financial support and i am trader so, saving from trade is easy but in the real salary is difficult to save. Purchsing Luxurious goods in this bad time is a day dream for the maximum people for locked down. And Yes, every man should think any innovative idea for overcome this bad time.

We don't know when will this global crisis end or the next crisis will come so we should learn how to save more than just spending our money on unecessary things that don't have any value. I think one thing that will help us avoid from spending our money is to start planting seedlings at our backyard because it can help us sustain our daily needs when our plants start to bear.

Rubick99

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Those are pretty good idea from you to prepare for the next crisis, i will give additional tips from what i'm learn so far.
1. You must control the expenses, use rule of money after you get paid from your job, it can be 50:30:20 or anything else that you can do that.
2. Beware about owning liabilities, here is our money go away for. Always remember that liabilities always take money from your pocket.
3. Get the assets, this thing can make money even you're jobless.
So, with this additional strategies we already to face the next crisis.

CarnagexD

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Today it is really hard to make any decisions while we are having a pandemic outbreak even this will be gone for the upcoming weeks of months still it's hard to the whole economy and one of the best thing we must to do is making a lot of changes and making a come back to the world of market. Some of the countries avoid getting transactions came from another country because most of us scared to attached to the different items we've today. Also, it takes time before most of the country get their GDP back on the top there is some news and articles that the china is already done to the pandemic virus and now they are one of the highest in the world of economy and some of them state that this accordingly plans of their country but still this is a hoax or rumor we don't need to have a problem about the comparing and against another country we must need to focus on fighting the virus so the economy now is back to normal.

Malam90

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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.

I am a salaried person and i live in capital city and my parents live in village. It is very difficult to save from salary after maintaining my family and my parents. Bounty and trade is my another source from where i can earn few money to solve financial support and i am trader so, saving from trade is easy but in the real salary is difficult to save. Purchsing Luxurious goods in this bad time is a day dream for the maximum people for locked down. And Yes, every man should think any innovative idea for overcome this bad time.

Subbir

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The biggest problem during the crisis is financial problems Which many don't have? Therefore, to beat this crisis, you would like to plan for insurance later If we attempt to save even a touch from our own earnings, then we'll be ready to overcome this crisis very easily. you would like to believe the longer term and save you're right that big companies strategize through insurance plans and may easily overcome the crisis.

abhiseshakana

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- Buy what you need not what you want.
- Economical but not stingy.
- Start a healthy lifestyle to reduce the risk of health expenditure
- Start producing for goods consumed and consume what is produced.
- When it's hard like this it's time to share, not selfish. No matter how small your contribution to the community around you is very meaningful.

In business, the strategy to overcome the after pandemic effect of the corona is an investment in the real sector. Because the real sector which in reality supports the economy, not the market. Anti-mainstream thinking is needed in these conditions because the situation is full of pessimism and uncertainty. Focus on growth not tightening budged. Pandemic creates a business that is keen to read opportunities.

In addition, for the time being, the business objective is not to accumulate profits but is intended to spin the economy so that even though the wheels are small and the spin is slow, the economy does not standstill.

el kaka22

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I think there should be some sort of insurance plans for the big companies. If you are a big enough company that you make over a billion dollars in revenue, that means you should be paying over a billion dollars in insurance so that you would be saved.

This is not really that bad for the big companies because they could do whatever they want and if they go under like they ALWAYS do, they would be saved by the country like they ALWAYS get, but this time the companies will be paying for it with the money they previously paid for. This way the public wouldn't be affected neither, because right now governments print money to save the big companies and that affects the inflation and that hurts the people who are already barely surviving when they did nothing wrong.

Snappycoco

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I agree with this. It is quite unsure when and where a crisis might occur and all we can do is prepare. Prepare for it physically and financially, and probably in some other aspect too. I strongly agree with having a savings and a debt free life.

TheGreatPython

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The truth is that at this point of time the world should see themselves as one, but the funny thing is that they wouldn't , they will all still be selfish. Even if you're comfortable enough in this situation, there are still a lot of people out there who don't have enough.

If you have enough it's best to also give out to others. That is the only way we can all make it through this pandemic. If we all end up not helping each other , you might be in need of something and your neighbor will have that and not end up giving it to you. But like I said, it will be difficult for the world to be like this, it's left for the few that can do so to keep doing it.

chip1994

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I only think about the economic downturn, not the economic crisis. The truth is that the economy is in need of your money and everyone's help. If everyone keeps your money the same way you do and does not invest, do you think the economy will work well in the future?
Despite the devastating corona virus, I believe that the economy will recover easily if we invest. businesses need our capital to continue growing. so I encourage people to invest with just the right amount of money, not too much cash. That will make the economy continue to stagnate.

DevilSlayer

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Quote from: shoreno on May 12, 2020, 11:30:34 PM

Quote from: billykannithi on May 12, 2020, 10:47:29 PM

I agree with you. A crisis is an opportunity as well as a challenge. In addition to tightening spending, narrowing the scope of business, hoarding money, looking for opportunities to invest in crisis is also a good way to do it. You can follow along to buy good stock codes, real assets like real estate, houses, of course, at good prices.

how can you say that its an oppurtunity ? where in fact people actually loose thier jobs or loose thier opurtunity if they just got hired and are supposed to work if not because of the epedemic but i agree that its a challenge and the weak will be destroyed if they will not stand up and fight . staying at home for a long time makes people lazy and result to get more hungry so they will eat too much . they will use internet too much too and other expense will just move up instead of going down if they will save

There are opportunities in every crisis, we should learn from history that we can be wealthy if we find opportunities in recession like what is happening today. The cryptocurrency market and stock market are build of different emotions like fear, greed, depression and euphoria. These emotions represent the current prices, there are a lot of professional traders who earn huge amount of money when there is a fear in the market but we should manage our risk carefully especially if we will do counter trade strategies.

shoreno

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Quote from: billykannithi on May 12, 2020, 10:47:29 PM

I agree with you. A crisis is an opportunity as well as a challenge. In addition to tightening spending, narrowing the scope of business, hoarding money, looking for opportunities to invest in crisis is also a good way to do it. You can follow along to buy good stock codes, real assets like real estate, houses, of course, at good prices.

how can you say that its an oppurtunity ? where in fact people actually loose thier jobs or loose thier opurtunity if they just got hired and are supposed to work if not because of the epedemic but i agree that its a challenge and the weak will be destroyed if they will not stand up and fight . staying at home for a long time makes people lazy and result to get more hungry so they will eat too much . they will use internet too much too and other expense will just move up instead of going down if they will save

billykannithi

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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.

I agree with you. A crisis is an opportunity as well as a challenge. In addition to tightening spending, narrowing the scope of business, hoarding money, looking for opportunities to invest in crisis is also a good way to do it. You can follow along to buy good stock codes, real assets like real estate, houses, of course, at good prices.

Ridwan Fauzi

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Since you are not mentioned the best invesment place that must be choose during the crisis, I may want to add some of them (CMIIW). We have to know first our intention we choose investing our money when the crisis comes like we need to store our money to avoid the decline in value of our currency so we need an investment place that we can say it as a store of value. And during this time we have been known thst gold is considered as of it.

In addition to gold we still have the foreign currency as another alternative like dollar or dirham whivh can be able to keeping our money is diminished in valeu. However, currently we have crypto currenncy which more promising than the foriegn curreny and can be made as a store of value as well. You can buy bitcoin as an example, take a look with bitcoin's price movement since this pandemic comes, it was really interesting. Even was able to beat traditional investment because most of them has decreased. But no with bitcoin, its price just increasing even a few times ago has risen to $10.000.

Lorence.xD

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Quote from: rosepetals on May 12, 2020, 09:46:46 PM

I also want to add mate about having second source of income inorder that there's assurance that there is money to be save for future usage because in some countries salary are just in an minimum wage which cannot sustains family needs most especially if we have kids.Maybe some online works or online selling inorder that daily works cannot be affected.

I do not think that having a secondary source of income is enough, sure it will generate some cash but it wouldn't be enough. Maybe have two or more side hustle, I think it is better, there are so many things the internet offer for easy cash. Also start considering investments when you become financially stable because these passive income lets the money work for you. Also try applying for credit card and use it wisely then pay it when it is due to increase your credit score.

rosepetals

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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.

I also want to add mate about having second source of income inorder that there's assurance that there is money to be save for future usage because in some countries salary are just in an minimum wage which cannot sustains family needs most especially if we have kids.Maybe some online works or online selling inorder that daily works cannot be affected.

samcrypto

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We really have to create strategies to remain profitable on a time like this, we are facing a lot of challenges right now. If you’re one of those who loss the job, now is the best time to earn money online and with cryptocurrency you can have it as long as you do it properly.

Quote from: FanatMonet on May 12, 2020, 05:54:54 PM

The coronavirus epidemic showed so many people how wasteful they were about their money, I just saw a huge number of people who did not put off any savings from their salaries, which is quite wild for me, because. anything can happen, and you need to be prepared for everything.

Learn from this costly mistake and time to have more fund to our emergency especially if you’re in a place where the health system is not the priority of your own government. The next crisis can still happen within the next 5 years, we have to be prepared that time.

Darker45

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

• 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.

These are indeed great strategies. However, most of these are best not only in preparation for the next crisis but also in our normal day to day life. Even if there is no foreseen crisis in the near future it is always wise to cut down your cost to what is necessary and learn to save, avoid luxury goods if they're bought purely for its sake, borrowing should be done only when all other means are already exhausted, and so forth.

Topic: Some Strategies to Face the Next Crisis - page 6. (Read 1425 times)