It is difficult to find such a person who would not be affected by the problem of a shortage of funds. Many people simply do not know what can be done to keep all their savings intact in such difficult times. To ensure that the budget does not suffer during the crisis, you should conduct a thorough analysis of your personal financial situation and take decisive action.
Instructions
Step 1
Maintain your personal budget. For these purposes, start a special notebook and divide it into two columns. The first will display all your profits, and in the second column, write down even minor expenditure transactions with cash. Over time, you will be able to conduct an analysis, identify unnecessary costs and ways to exclude them. Thus, it will be possible to increase the level of income.
Step 2
Set aside 10% of all your profits every month. In a one-time form, this amount will be insignificant, but over time you will be able to accumulate enough funds so that they act as insurance in unforeseen circumstances. If you wish, you can increase this amount depending on the circumstances and possibilities.
Step 3
If you have free money at your disposal, you can deposit it with a reliable banking institution. Usually large banks offer about 8-10% per annum on deposits, which is roughly equivalent to inflation. This method of preserving part of your capital is the simplest and most affordable, but you should not rely entirely on the unstable banking sector.
Step 4
Consider purchasing real estate. Money can depreciate very quickly, but such objects as a country house, summer cottage or city living space will always be in demand and expensive. Such an investment in real estate can help not only to save already accumulated finances, but also to increase them. There are two ways to make a profit:
- buy a house at an early stage of its construction, and when the house is put into operation, resell it at a higher price, the approximate earnings from such an investment will be from 20 to 50% per annum;
- you can also make money by renting out the acquired living space, in this case the annual yield will be about 4% -7%.
Step 5
If you have significant capital, invest in precious metals. This applies to gold, as it almost never lost its value.
Step 6
But you'd better refuse to invest in stocks. Even during a boom, this option can be risky. Especially if you do not have the skills and knowledge that could help in assessing the prospects of a particular firm or company.
Step 7
Constantly work to improve your financial intuition. For any investment, seek advice from experienced and professional advisors. Never trust your funds to the first financial institution that comes along. Each step must be well thought out, only then no crisis will harm.
