1. If you want something and if it's an absolute necessity, Buy it now ( use credit card installments etc ) . prices will continue to go up and even paying a small interest will be ayu saving than buying later
2. Your salary will not keep inline with increasing cost of living. So be careful when going into debt. Ensure you have at least 20% head room for your basic survival budget when planning your yearly expenses and long term financial commitments like loans
3. Invest wisely. Markets may crash so, hedge in assets which are likely to retain value. ( lands are one option but in times of crisis , liquidity of lands will be low)
4. If you have any spare land , start farming. This will become handy in future. ( even without a financial crisis , healthy homegrown food is a huge advantage )
5. Think twice before buying fancy things and spending to maintain status. You will need your savings in future.
2022-2025 will be a challenging time for everybody regardless of policies or who is in power. There is no way of coming out this economic mess without undergoing hardships for 2-3 years. What policies in play will determine whether upcoming hard times are the last we see or its just the beginning of more to come.
2. Your salary will not keep inline with increasing cost of living. So be careful when going into debt. Ensure you have at least 20% head room for your basic survival budget when planning your yearly expenses and long term financial commitments like loans
3. Invest wisely. Markets may crash so, hedge in assets which are likely to retain value. ( lands are one option but in times of crisis , liquidity of lands will be low)
4. If you have any spare land , start farming. This will become handy in future. ( even without a financial crisis , healthy homegrown food is a huge advantage )
5. Think twice before buying fancy things and spending to maintain status. You will need your savings in future.
2022-2025 will be a challenging time for everybody regardless of policies or who is in power. There is no way of coming out this economic mess without undergoing hardships for 2-3 years. What policies in play will determine whether upcoming hard times are the last we see or its just the beginning of more to come.
