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Suggestions in times of recession...
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Posted on September 06,2009
- Don’t take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible.
- Pay off as much of personal loans, private loans, as debt collection will be hastened.
- Sell any stocks you can even at lower prices.
- Take money off from Trust Funds.
- Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
- Don't invest in new capital.
- If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall.
- Cancel holiday plans using credit cards.
- Don't change jobs, as companies will retrench based on 'last in first out'.