Hi Search Freaks, Recession Recession Recession every ware, here are some advice or tips for you which can help you in this worse time.
1. Do not apply for any loans.
2. Do not buy homes or other property with loans or even by cash.
3. Keep as much cash as possible with you.
4. Pay off your debt or personal loans as much you can, after keeping necessary cash with you.
5. If you are thinking for selling homes/properties/car/gold etc. than sell it now, when you can get good price, before they crash. As India is in very basic stage of recession.
6. Don’t invest in new business proposals. Well established businesses are in trouble, so how you can survive?
7. Calculate your monthly budget/expenses for your home/family, and from that try to eliminate the unwanted.
8. Cancel holiday plans in near future.
9. Don’t change jobs, as companies will retrench based on “last in first out”.
10. If you are student or new professional, than decide/plan to go for some new courses(short term courses), which can lift up your career. Many institutions have sliced their course fees. Ask them for discounts.
11. Always avoid to use credit cards.
12. Take care