Thursday, July 10, 2008

Good advices on surviving during Recession

few and common but good tips from me:

  1. Spend only what u need, not what u want and u can live without it. Be frugal on spending even though the temptation to buy clothes,perfume et cetera is too strong.
  2. Do not use credit card. if you have to use it, use it only for fuel expenses not for shopping habits.
  3. Do not make any investment including property this time eventhough property analysers keep saying this is the perfect time to buy as this only want to stimulate public interest to buy during recession.
  4. Always keep tracking where your money goes once in fortnight. Most importantly, before your pay comes in, do budget analysis on how you will spend the money.
  5. Have meals twice everyday,breakfast and dinner if you can skip for lunch. at the same time you can put on diet(this advice may applicable to whom concerns with their have less meal at outside and instead cook for your meals.
Last but not least, have chill time and one in a time reward yourself with buy one or two clothes or any that you want but do remember be frugal!

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