Some Strategies to Face the Next Crisis

[metenjean]

Every cases always have the end but we don't know when the era of corona virus will ended and we can start life normally and enjoy our working, more than two months ago we always stay at home and left our activities impact of corona virus happen.

[Viscore]

Every cases always have the end but we don't know when the era of corona virus will ended and we can start life normally and enjoy our working, more than two months ago we always stay at home and left our activities impact of corona virus happen.

Let's hope that our leaders are telling the truth, in US, it seems like the vaccine will be available by January next year.

https://www.usnews.com/news/health-news/articles/2020-05-01/white-house-says-coronavirus-vaccine-could-be-ready-by-january

White House Says Coronavirus Vaccine Could Be Ready By January

It's coming from the white house so we can believe on them as they are not jut fabricating story just to ease people up with the current situation.
Also, other nations are working on the vaccine as well, so we might see them announce soon regarding the vaccine.

[Ucy]

And focus more on basic needs like good foods, water, herbs/drugs, tools, useful information/knowledge, how to live & do well in crisis, how to live safely in crisis, security, communication tools, etc. These are part of what people should be buying or investing more in before/during crisis.

[tvplus006]

Every cases always have the end but we don't know when the era of corona virus will ended and we can start life normally and enjoy our working, more than two months ago we always stay at home and left our activities impact of corona virus happen.

Let's hope that our leaders are telling the truth, in US, it seems like the vaccine will be available by January next year.

https://www.usnews.com/news/health-news/articles/2020-05-01/white-house-says-coronavirus-vaccine-could-be-ready-by-january

Addressing the issue of coronavirus epidemics does not lead to a solution to t he financial crisis in the future. Covid-19 was not the main cause of the financial crisis, but IT was its detonator. Therefore, in the future, financial crises will be repeated periodically and the reasons for them will be different.

[ene1980]

Addressing the issue of coronavirus epidemics does not lead to a solution to t he financial crisis in the future. Covid-19 was not the main cause of the financial crisis, but IT was its detonator. Therefore, in the future, financial crises will be repeated periodically and the reasons for them will be different.

The reality is what you mentioned, the economic situation was not that great and the slowdown was evident in many sectors and the pandemic will be the triggering factor and i am expecting the politicians to blame everything on the pandemic for the disaster rather than owning up to their disastrous policies. The amount of money pumped during the 2008 crisis is still in the market and now they are pumping money further and how long they can do that can be seen in the coming years.

[Assface16678]

As we did not expect the pandemic outbreak is still running into the world and there are a lot of people who cannot handle this kind of situation because this is not the thing they usually do in their everyday lives. Still, there are some people trying to scam those people who really need help some of the platforms today is getting help and making projects that are stating about they are giving fundraising to help people but they will not do this instead this is just a scam because there are people getting greed and desperate to make more earnings because there are a lot of places on the world that is affected by the virus are cannot earn more money because their job is not a home-based. Still, always make research if you are trying to invest today.

[coinfinger]

Recessions and measurements to save us are NOT new to me because by the times of 2008 economy slow down, I learned few thing and I am in plan to repeat the same to safeguard myself if recession happens again due to covid10 pandemic. By 2008, I do not have any big saving but now I have some crypto saving which must be one of the reason for me to be confident about handling any economy slow down situations. I guess cutting down unnecessary costs will be only high required thing, I guess we all need to follow.

As most countries are relaxing the isolation restrictions, I guess world economy is slowly recovering which means there are less possibilities for another crisis. Let's hope for better things to happen like there would be a vaccine for covid19 and no more starving or dying due to pandemic.

[$crypto$]

Addressing the issue of coronavirus epidemics does not lead to a solution to t he financial crisis in the future. Covid-19 was not the main cause of the financial crisis, but IT was its detonator. Therefore, in the future, financial crises will be repeated periodically and the reasons for them will be different.

But many also say that this epidemic will certainly have several factors about the financial crisis in their area because some are used to deal with it so that this is more needed and will certainly experience a long crisis if the epidemic continues to occur.

The financial crisis will definitely continue in the coming years but I don't think it will be as bad as it is now because of Covid-19.

[bearexin]

Sad truth is that there are people who don't even have any means of income now, not to talk of having savings to help them out when the time comes.

Those are the people I really pity at this time. And things now got worse because companies are relieving people from their duties so that they wouldn't have too much of expenses. It's really a sad thing, and how are those people who lose their jobs now going to survive since they don't have any other job? This is going to be a really difficult situation for a lot of people. And this is why it's being said that people should try to have two means of income, because you never know tomorrow.

[ethereumhunter]

Sad truth is that there are people who don't even have any means of income now, not to talk of having savings to help them out when the time comes.

Those are the people I really pity at this time. And things now got worse because companies are relieving people from their duties so that they wouldn't have too much of expenses. It's really a sad thing, and how are those people who lose their jobs now going to survive since they don't have any other job? This is going to be a really difficult situation for a lot of people. And this is why it's being said that people should try to have two means of income, because you never know tomorrow.

Even if they have savings, it won't work for a long time if the virus still out there, and they cannot work as usual. They need money to buy their daily needs, and they cannot count on from their savings. That will happens too with people who lose their jobs, and you can imagine how if their savings have been used to fills their daily needs, and they don't have anything to survive? I hope that everything will be back, although the situations are like to reset, as long they can back to work again, it will really help them to survive.

[FanatMonet]

Sad truth is that there are people who don't even have any means of income now, not to talk of having savings to help them out when the time comes.

Those are the people I really pity at this time. And things now got worse because companies are relieving people from their duties so that they wouldn't have too much of expenses. It's really a sad thing, and how are those people who lose their jobs now going to survive since they don't have any other job? This is going to be a really difficult situation for a lot of people. And this is why it's being said that people should try to have two means of income, because you never know tomorrow.

You can have 1 source, you just need to be very competent in spending. Too many people update phones, computers, plasma TVs and other, quite expensive things once a year, and many more often, even though many of them do it on credit, not thinking about tomorrow.

[cosmofly]

I don't think this is a good idea. Your suggestions seem to be passive and have nothing to do with the economy. You should know that, if there are many people like you, it will make the economy really not grow again. When the economy started to suffer from crisis, interest rates and stock prices also plummeted. Everything seems to be reset and we should take that as an opportunity. Fear only makes us forever poor.

[princeyeboah]

Crisis are bound to happen but I'm not optimistic about another bad time happening anytime soon or amidst the COVID-19 pandemic. This raises fear in people. Vaccines are being tested each day for a very potent one which can save humanity from the COVID-19. The outlined strategies are good but who knows? Investing in a long term project with good prospects is good.

[abhiseshakana]

Recessions and measurements to save us or new to me because by the times of 2008 economy slow down, I learned few thing and I am in plan to repeat the same to safeguard myself if recession happens again due to covid10 pandemic. By 2008, I do not have any big saving but now I have some crypto saving which must be one of the reason for me to be confident about handling any economy slow down situations. I guess cutting down unnecessary costs will be only high required thing, I guess we all need to follow.

As most countries are relaxing the isolation restrictions, I guess world economy is slowly recovering which means there are less possibilities for another crisis. Let's hope for better things to happen like there would be a vaccine for covid19 and no more starving or dying due to pandemic.

Recession due to a pandemic, indeed something that can be considered by accident, but in fact, many countries are already heading into recession when there is a trade war between America and China. When a trade war causes a recession in a country it is a sign that a country is not economically sovereign.

The current condition is a recession, indications include financial transactions in banks that began to decline in the number of daily transactions, then the trade balance is minus, and the state budget that relies on tax is mostly used for routine expenditure rather than a productive expenditure.

We will always hope for the best but must plan for the worst. If a recession or condition like this lasts for two quarters means it is certain that an economic crisis will occur that leads to depression. Are we able to avoid depression, for now, the vaccine is the only hope.

[brotherwood12]

-try to increase ur salary ,
-save 20-30% , invest 40-50% and rest for living .
-buy what u need not what you want
- if buy something that the value will get down time by time , better buy 2nd part

[sana54210]

The greatest strategy you could have is to have liquid assets, not really many people realize the power of liquid assets but that is really the most important thing. Even the richest people in the world have their wealth tied to their stocks, Jeff Bezos is the richest person alive right? How much money do you think he really has? He probably has less than 50 million dollars in any bank account, probably less. You know why? Because his wealth is his amazon stocks and not his actual money. From crypto to stocks to forex to gold, everything could drop.

But when you have a certain amount of cash, no matter what happens in the world even if your cash becomes less valuable, at least you will be ready. This is a bad idea for people who have over a million dollars in investments of course, but you need to have at least 20-30 thousand dollars in cash somewhere to be able to withdraw right away so you can use in emergency cases.

[KrisAlex18]

This pandemic virus should be thought us of what we should do now, as of this current situation having saved money is really great for us because we can have money to spend on our foods and for our daily needs as we are now jobless having money would be a great help.
Investing should do by many people so in the next crisis that will happen in the future (hoping that there wouldn't be anymore) we will have money to use for our needs because of having saved money that is profitable because of investing.

The "easy way" will lead alot into problems in the future.

Well said, all great things came from hard things, if we want to be successful someday we should expect that there would be many hard things to face. Do not disappoint once you failed because that is still part of the process.

[wozzek23]

Quite funny that I came across a post here and someone was saying that people shouldn't be saving their money because it will be affecting the economy and causing it to fall lol. This is like a normal thing that everyone is going to be doing this time, whether the economy is falling or not, people just want to save their money and avoid stories that touch. You just don't know what can happen.

If you spend all your money now and things go really bad tomorrow, seriously, what are you going to do to help yourself out? And for the part of concentrating on your jobs, I think people should as well be looking for other jobs online to have as a means of side income.

Definitely we must need many strategies to survive in the economy that we are going to face after the end of current pandemic. Because, our economy is going to be complete different than what we had some 6 or 10 months back. It means our income stream may not be the same like before. So, we must need some practical strategies to cope the situation and definitely we need another one year of time to get back to a normal life.

[bithisach]

I think for most people this will either be what they're already doing or what they can't afford to do so I'm not certain how helpful this advice may be...

I would say investing in long term investments is a good idea for SOME people now and some people will have guarenteed income (most people also have severance and redundancy packages of they're on salaried income and lose their job - it's just new workers will be hit quite hard by this)...

Don't disregard info, someone might find this useful! Maybe not you, maybe not me. But someone may, let's keep an open mind!

[hahay]

If you still get income and also a savings, then it will still be good for the next few days, weeks or months and as long as you can manage your finances more wisely then that is the key to staying safe during a crisis. Well, but the problem is those who have even lost their jobs when lockdown is being applied for the first time, even some families in my country sell their goods or property just to buy food and other things to cover their living costs, because the solution is about sharing assistance from the government and / or donations made is still insufficient to cover the cost of living for the people.