Do you know what financial crisis is? Have you ever experienced it? and do you know how to survive those financial crisis if this happens to you?
Financial crisis is any of abroad financial situations in which some financial suddenly lose a large part of their nominal value and the causes are a job loss, illness or car accident, bankruptcy, etc. It can be a nightmare for everyone, when that moment comes, when you realize that you need to make major changes in your life, it's incredible stressful, creating tidal wave of worry and fear. I know this is very torturous because I've also experienced it and I believe every person in this world has experienced this also. Then, how should we handle this financial crisis?
Identify the problem and solve it
The first step to overcomeh financial problems are to identify the problem itself, the problem that causing your financial crisis. If the problem has been found, think about how to solve the financial problem immediately. For example: when your main financial problem is your company that is no longer producing, even you have started use your personal saving for the company's need continuously and the best way out of this problem is stop your business before you run out of money. Another example problems are; you spending more than your income. For problem like this, you have 2 choices; first, cutting out anything that is not necessity, second, look for additional income to meet your needs. I believe how to solve debt problems can be as a reference to solve your financial problems
Create a budget
After you find the problems that caused your financial crisis, one of the best way to do next is creating a budget plan. Then, what is the benefit of creating a budget plan?
1. To find out your financial position
In this case you should make a list of all your expenses in broader categories such as: daily needs expenses, medical expenses, education expenses, entertainment expenses, etc. By creating a budget plan, you can find out to what extent your expenses can have an impact on your finances.
2. To help you adjust your expenses
When you prepare a full year budget plan and you feel your expenses are quite stable, you can make an investment, but remember choose the investment that are truly safe in this difficult time, such as: opening a deposit account.
3. To be used as a guidance of using your money
Budget plan make your finances more controlled because you know how much money you can spend on each item.
Discipline
Once you have created a budget plan, you have to discipline yourself by spending your money according to the budget you have made.
Conclusion, when you are faced with financial problems, don't panic and stress because that won't solve your problem. Calm yourself, do what you should do. Identify the financial problems, solve it, create a budget plan and discipline in using your money in accordance with the budget plan that you have made. If all of this you have done, I'm sure your financial crisis will be resolved.
Identify the problem and solve it
The first step to overcomeh financial problems are to identify the problem itself, the problem that causing your financial crisis. If the problem has been found, think about how to solve the financial problem immediately. For example: when your main financial problem is your company that is no longer producing, even you have started use your personal saving for the company's need continuously and the best way out of this problem is stop your business before you run out of money. Another example problems are; you spending more than your income. For problem like this, you have 2 choices; first, cutting out anything that is not necessity, second, look for additional income to meet your needs. I believe how to solve debt problems can be as a reference to solve your financial problems
Create a budget
After you find the problems that caused your financial crisis, one of the best way to do next is creating a budget plan. Then, what is the benefit of creating a budget plan?
1. To find out your financial position
In this case you should make a list of all your expenses in broader categories such as: daily needs expenses, medical expenses, education expenses, entertainment expenses, etc. By creating a budget plan, you can find out to what extent your expenses can have an impact on your finances.
2. To help you adjust your expenses
When you prepare a full year budget plan and you feel your expenses are quite stable, you can make an investment, but remember choose the investment that are truly safe in this difficult time, such as: opening a deposit account.
3. To be used as a guidance of using your money
Budget plan make your finances more controlled because you know how much money you can spend on each item.
Discipline
Once you have created a budget plan, you have to discipline yourself by spending your money according to the budget you have made.
Conclusion, when you are faced with financial problems, don't panic and stress because that won't solve your problem. Calm yourself, do what you should do. Identify the financial problems, solve it, create a budget plan and discipline in using your money in accordance with the budget plan that you have made. If all of this you have done, I'm sure your financial crisis will be resolved.
Comments
Post a Comment