Three strategies of behavior in a crisis (when the economy is falling and the stock market is rising)
Today, each of us is "at risk" of experiencing a drop in the economy, a surge in prices or a prolonged economic crisis.Indeed, the coronavirus outbreak has shaken the entire global economy and sent the price of oil tumbling.Not only that, but the fall in the price of oil could be catastrophic for all of us. The oil industry has already suffered a $ 2 billion bankruptcy, and a second wave of deadly infections is just around the corner. In this article, we will talk about what each of us should do with the knowledge that our economy is very bad at "moving". To avoid becoming a "hostage" to the collapse of oil and the start of a new financial crisis, you should take several key steps towards the future: 1) the price of oil falls As well as the collapse in financial markets. It is inevitable, but not to be worried about this. The fact is that the rate at which we buy our oil has nothing to do with the size of our earnings or the speed of our personal financial recovery. 2) we Reduce expenses This is probably the most important step. People who have been living off of credit for a long time start to "eat up" all the money they have.This is how the virus "captures" most of us, and puts us in self-isolation mode. We remember how, just before the previous quarantine, we "eaten" our parents ' and grandparents.That is why all those who have "eaten up" the last of their savings, do not come to the rescue.3) we "Take care" of your health This is probably the last word in self-isolation mode. People carefully clean out all traces of toxins from their bodies. After that, they are well prepared for any new financial crises. Each of us should have two new ones — a" protective " mask and a second line of business. instruments (which will help you stay on top of your business and maintain a high standard of living). 1) Read my article " Where NOT to invest money? TOP 3 most dangerous places for money". 2) Read my article " what skills do you need to become a professional?" rich."