Recession Period
oWe all know that markets have slumped
oWe read about job-loses in news papers, We talk about atleast 24 months of recession, oEarly entrants are not getting jobs
oCompanies are closing, oSales are not picking up
oSuddenly cash has evaporated from the market
oProfitability is severely hit.
"What are we to do during this time to sustain the recession".
oNeed to keep my job, pay EMI's, family to run, keep working to sustain myself, feel secure, save a little money for a rainy days to come. oDo not take too much vacation. oDo not ask for promotion. Don’t ask for a salary increase. If you ask, you may soon not have a job. Remember, there are people available with better skills at lower salary levels. oDo not complain
oDo not waste time gossiping. oDon’t resist a transfer
oDon’t resist travel. oDon’t resist a salary cut
oDon’t resist extra-work load, oDon’t resist extra time at office if needed, oDon’t change jobs in this market.
oBe punctual to office, pick up new skills, deliver as per deadlines, contribute to knowledge forums, do something innovative, oTake training programs, oOrganize team meeting to improve productivity, oAlways be engaged & productive, oWork doubly hard and save money for your company.
oRemember, your boss is always right and is the best (recession or no recession)
oBe cheerful, keep smiling, life goes on J
The big loans:
oHome Loan & EMI
oIf you own one home and you are living in it and paying EMI, then see if you can partially fore-close it.
oIf you have two homes and paying EMI on both –
oSee if you can rent the second home – don’t bother about amount of rent. Rent to get cash flows going. Don’t feel bad that rental is not good enough. Trust me – it will soon be a great feeling to rent.
oIf you have enough money, then fore-close a significant part of it. If your interest rate is less than bank FD (which I doubt), then you don’t have to fore-close.
oIf you think the property will fetch a decent value, then sell it (though it is a buyer’s market)
These suggestions are tough – do I live life or not?
oThe new principle – “Happiness is inversely proportional to expectations/desires”. More the expectations / desires – lesser the happiness and vice versa
oSome other ways to live great life –
oSpend time with family – go for a picnic in a nearby garden, oExercise and walk a lot, drink lots of water
oListen to Radio, watch some TV, oVisit Libraries, read books which you purchased, but never had a chance to open them, oGo to friends place a for a dinner, oEnroll into a hobby – music, painting etc
oDo social service – start teaching, mentoring etc
oSpend more time with your children, oJoin laughter forum, attend conferences and meet interesting people, oGo for concerts
Don’t worry – what goes down will always go up
Markets will rebound – these tips will prepare you to be a winner
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