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Surviving the economic crunch: What can you do?
Article ToolsIf you want to survive the economic crunch, you need to minimize your liabilities and build on your assets. Follow these steps,
1) Get out of Debts/ Financial liabilities. They are a drain on you as you have to pay interest rates on them as well. Sell off some worty asset to get out and close your liabilities.
2) Have enough to provide for your basic necessities and supplies (including Food and water). Work for it if necessary.
3) Form community. Single I break united we stand. Try to bring in people together, have a strong sense of community. If you are going though a downturn, others may help you out on a voluntary basis and vice versa.
4) In case it is an economic downturn (recession)... convert all your liquid assets into Gold. Gold is the stable of all assets and unlike stocks / bonds etc it will not vaporize into thin air.
Learn more about this author, Akhilesh Mittal.
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