Financial experts and analysts all point to an impending financial crisis by 2013. While most experts want us to realize that this event is indeed coming and we cannot avoid its outcome, some are quite concerned what will actually happen to regular folks like you and me. How do regular people prepare in surviving the financial crisis when 2013 is just several days away? There is still hope; you can survive any crisis when you keep this checklist in mind:
1. Reduce your debt – whenever you have debt, someone else controls your financial future: the lending company, the bank or a finance company actually have their hands around your neck. As early as today, you need to plan on important ways to stop accumulating more debt as well as plans to reduce your current debt. Overpay mortgages monthly and you will find an extra couple of months off your debt or how about consolidating your loans so you can take care of paying them in a more efficient manner. By consolidating all your loans in one due date you will decrease the risk of missing your payments. You may also use automatic debit from your bank account so you will never have to worry about missed payments in the future.
2. Simplify your life choices – learn how to live simply so you will never accumulate more debt and you will also be able to save. Instead of eating out or shopping you can cut down on these activities so you can save money. Switch to more productive and FREE hobbies like reading, gardening or taking your dog for a walk.
3. Think of ways to reduce your family’s expenses – when the impending financial collapse happens, you and your family will be able to cope faster if you start living more simply. Cut down on cable costs and just subscribe to basic TV. Car pool or plan your trips to the store so you can save gas and energy as well. You can also indulge the family in eating simpler but more nutritious meals; choose home grown vegetables and fruits to replace eating out or eating takeaways. Simple choices like this will be able to help your family cut down on everyone’s budget.
4. Work security – are you an employee? If you are, then it’s time to question your work security. When the looming financial collapse happens, the least tenured workers will be the ones to go first and if you are the least experienced in your department then start creating plan B today. You can start thinking of a home based job that can help augment the family’s needs or how about switching careers so you can get a higher pay and better security in your work. You may also decide to forgo additional expenses until you feel that you have better security in your current job. There’s nothing wrong with being prepared and you must share this vision to all your family, friends and neighbors to start the change in everyone today before it’s too late.