Financial Crisis

Everyone is effected somehow or other by the current financial crisis. How to survive the crisis?. First step is cutting down expenses. Top companies are shutting down their factory for some days to stop piling up of stocks. At the individual level we need to list down our expenses and categorize them into categories like Necessity, Comfort and Luxury. We need to think twice before spending money on expense categories like comfort and luxury. Try to postpone. Often we visit malls for purchasing one item and end up purchasing lot of other items, please avoid it. Cultivate Financial Discipline. I would elaborate more on methods of reducing expenses at a later point of time. Next step is to develop alternate streams of income. List down your skill sets, survey the opportunities available, match the skill set with the opportunity, identify the time required to be successful in that opportunity, Discuss with family and ensure you spend adequate time for that opportunity. Our ultimate aim should be to be happy and make our family, Friends and people around us happy. Ensure that you have good work-life balance.