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1  Economy / Economics / Recession? How to face It? on: September 30, 2023, 04:08:35 AM
Recession? How to face It?

Recently, the economic news media has always been busy with discussions regarding inflation and recession. Because perhaps this is indeed a global problem or a problem that is being faced in many countries.
Actually, news like that has two impacts on news readers. that is
1. Panic and fear
2. Be more alert and make preparations to face the recession itself.

Personally, I am actually sometimes influenced mentally, namely panicking and a feeling of fear that arises after reading a lot of news related to the economy which is experiencing a prolonged crisis which is causing inflation and is approaching recession. Several countries have even been declared to be in a state of recession themselves.

But I realized that panic and fear will not solve any problem. So I changed my mindset, namely making more effort to study the recession itself and how to deal with it if it also happened in my country. Because after all, I want to continue to have a strong economy even when there is a recession.

What I understand about a recession after reading several references is a prolonged decline in economic activity over a certain period of time. Which then causes the following things:

1. Unemployment Increases
2. Consumers are decreasing because they are becoming more thrifty and reducing their daily shopping allowance.
3. The investment zone also experienced a decline, especially from large companies who became more careful.
4. The increasing difficulty of running a business or what is usually called business uncertainty.
5. Financial instability on a large scale, such as many banks experiencing bankruptcy and the like.
6. Panic arises in the market as prices begin to become highly volatile. An example is the many price increases that have occurred irrationally recently.

We need to know more about what a recession is so we can make preparations to face it. Because if we are not ready then we may have difficulty maintaining our own economic stability. Because this recession can also increase poverty rates due to decreased levels of social welfare and even mental health problems can also occur. Like many people who are depressed when facing an increasingly difficult economic situation.

To face all of that, I think we need to make preparations in an effort to face a recession, namely with small steps like the following:

1. Start planning to prepare emergency funds for us to use when unexpected situations occur.
2. Start reducing expenses by adopting a frugal lifestyle.
3. Start looking for additional work that can make us have additional income.
4. Increase our insight into financial education. So that we can be smarter in managing finances.
5. Start preparing yourself to face a career change. By learning more skills in fields that we haven't even mastered before. So that we can be better prepared to work in any field that we can use to get more income. Because looking for additional work will not be easy if we don't have many skills that we can use in competition in the job market.
5. Maintain physical and mental health.
6. We have to be more patient and also have to push ourselves to become people who can adapt more quickly in difficult situations. Because people who cannot adapt are the ones who will lose in competition in a market that is more volatile when a recession occurs.

But we also shouldn't push ourselves too hard which can make us mentally exhausted and experience stress or depression. And we also have to realize that recessions are a natural phenomenon in the economic cycle. So don't panic and keep doing your best.

Hopefully you all can survive when the recession comes. Be the person who wins and can still maintain financial stability well. Good luck.
2  Other / Off-topic / Get to know the Child Phase before teaching Bitcoin and Financial Management. on: January 01, 2023, 07:53:24 PM
As a parent, of course I want the best for my child's future. But we need to realize and understand that there are phases in the development of our children.

teaching financial management, Bitcoin and Crypto to our children is a great thing if it is taught at the right time or phase. and certainly not by coercion or pressure.

There are 4 important phases that we must know in children's education.

1. phase of play, freedom (live like a king).
This phase ranges from 0-6 years of age. and it is in this phase that the growth and development of the brain dominates. Emotions are also more studied in this phase. and in this phase we as parents have to praise and pamper children more lovingly. let children play and imagine freely. because this phase is an important phase in brain development and also an important phase in developing golden potential for children. things that need to be avoided in this phase are yelling at the child loudly, shocking the child is also strictly prohibited in this phase because it is fatal in inhibiting the neuron cells that are developing very rapidly in the child's brain and will make the child's potential become hampered or even extinguished or suppressed . so that when an adult the child will be very difficult to develop their own potential. what we can teach in this phase is to provide games that are interesting but contain educational and creative elements to stimulate the growth and development of children's intelligence.

2. Phase in the introduction of discipline and responsibility.
This phase is at the age of 7-14 years. So maybe it's at phass that we can start teaching children about money management. such as setting an example to children about saving. But it must be done slowly but consistently. We as parents must set a good example. and maybe a little hard on children at this age a little bit is allowed. because in this phase is the phase in the formation of our child's personality. so we have to really make children know a responsibility and discipline in life. and if we spoil children too much during this phase, it will actually make your child a child with a weak personality. in this phase also our children must be informed about what obligations they have to do. telling children about building a future and pursuing an ideal during this phase can be a motivation for them. and we tell them where the best places to save are. Introducing investment and crypto can also be started in this phase and of course at the level of basic knowledge.

3. The phase of building relationships with children (becoming friends for our children)
This phase is at the age of 15-21 years. well, in this phase we have to be more able to build relationships with children like friends. so that our children remain comfortable to talk to us. and the child keeps asking for solutions and discussing with us every time he gets a problem. and we must attach importance to rationality at this stage. we give advice like a friend as well as a parent. if we are too hard in this phase it will actually make our children close to us and even our children will prefer to confide in their friends rather than us. maybe in this phase we can introduce our children to our investments and all about crypto and bitcoin that we have learned so far. because of course at this age they will need this knowledge.

4. Phase of Freedom, Independence and trust.
 In this phase our child is an adult and let him become an independent person and be able to solve his problems independently. But our advice is still needed for our children. be it moral advice, life or financial advice.

References and basic sources of thought :
3  Economy / Economics / Economic Politics: Rent a House for Free and Earn on: August 18, 2022, 08:12:30 PM
Can we rent a House for Free?
and can we benefit from renting a house?

then the answer is YES

one of the many ways is to share the room for the house that we rent with other people or our friends.

Example :
I am a student and I am looking for a house for rent near my college. I am renting a house with 5 rooms in it. and in a month I have to pay $500USD rent. And of course I only need 1 room for myself. and the remaining 4 rooms. so this is where my job is to find my college friends who need room rent.
and at a university it is quite easy. especially if we have a study group. so here I offer friends to rent a room in the house I live in and I also give the freedom to share using other shared rooms such as the kitchen, living room and living room. so that every friend who rents a room also feels free to live in the house. and because there are only 4 vacant rooms so I'm looking for 4 people only. and I rent out each room for a monthly rate of $150USD. so 4x150=600USD.

Now I don't have to spend money on renting a house. even I get 100USD profit per month.

this is just an example. please share other solutions according to their respective opinions and experiences.

and sorry if anyone has already discussed this. I'm just sharing my experience. And maybe many of us have had the same experience.
4  Economy / Economics / Tips to save my finances, to grow personal economy on: August 12, 2022, 09:33:29 PM
For some people frugality is very difficult. because everyone's needs are different. and sometimes the cause is a balance between income and expenses. so for example when we receive a salary of $ 250 USD per month and it turns out that our expenses are $ 250 USD per month. then of course the money we receive from the salary will run out and only enough for a month.

maybe these tips only apply to some people and not to some people. because I know everyone's income is different and everyone's needs are different.

The following are tips that I usually do in saving my finances so that they are more effective and can be set aside for saving or investing.

1. Must take note and calculate our income and expenses regularly and consistently every month or week.

this is necessary in order to start saving by looking at our financial condition. and evaluate whether our spending has been done effectively or not. and measure how much we can save later.

2. Buy only what is needed, and put aside the things that are only wanted but not needed.

 so after seeing our financial income and expenditure records every month. so from here we can start analyzing what things we have bought so far that are only based on desires and the things we buy based on needs.
and from here because we want to save money then make our priority only to buy what is needed. and we reduce the things we want but don't really need.
well the result of doing the first step will be useful here.

sometimes people spend more money to buy the things they want regardless of whether they are really needed or not. and sometimes people prioritize wants over needs.

So from here we change the concept of making needs a priority. so we can reduce expenses by not buying things we don't need.
sometimes this step is the most difficult. because it requires a high level of commitment.

3. make the allocation of funds
because we already know which things are needed each month. from here it is necessary to make an allocation of funds so that the effectiveness of the money spent is more allocated.

4. Stay away from excessive lifestyle (excessive luxury) and try to live with a minimalist lifestyle. as usual you usually order fast food. well from here you try to make more of your own cooking. (this is only done by people who are not busy). because sometimes when we pay $5 dollars for a serving of ready-to-eat food for one meal. so when we spend it on fresh ingredients that we cook it can be enough for several meals. (optional)

5. Make a goal (dream to be achieved) to make yourself more motivated.

6. Start saving and investing the money earned from frugality.

7. Pamper yourself with the specified time portion.
sometimes we need entertainment and fun. so if we usually do it often, for example every week. then make it once a month. because too much frugality can also make us stressed. then entertainment is needed here. provided that the entertainment is not excessive. because if we overdo it even our money can run out overnight.

simple life but still fun.

maybe you can add tips from your experience all.

Thank You.
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