The world is facing an economic crisis due to the war between Russia and Ukraine, and the repercussions of the Corona epidemic, and news of inflation has become daily, which prompts us to pay attention to what we have, and save what we can for the future.

So, if you're feeling the same way, prepare to get through safely from a storm surge.

write your plan

Start working on solutions as soon as you feel you need them before you reach the crisis, and this will only work by knowing how much your monthly income is, and where exactly you spend your money, so it is necessary to track your expenses as a first step.

It will track your expenses for a month or two, figure out the average expenses by electronic payment card history and bill payment applications, then add the quarterly or annual payments, and put an average amount for the expenses.

Now that you know the amount, make a budget that includes basic needs, such as food, housing, and monthly water and electricity bills, and add bill payment dates on your phone, then think about payments that can be reconsidered.

think twice

Several factors push us to make the purchase decision, either our inner concern about the look of others and changing us from them, or the tone of a television advertisement that promises you a dream home in comfortable installments, or the urgency of others to buy a product they liked, all of which are motives that do not represent our original goal of buying, which is the need that we escape from feeling .

You can take a conservative approach to your financial decisions, by thinking about your motives for buying, and remembering that living below your means prepares you for lifelong financial stability, which means less stress with each global crisis, and helps you save for emergencies, so do not stop thinking about your motives. Behind the buying decision, before you save 3 to 6 months in an emergency fund.

Setting a budget is not difficult and there are many ways to prepare a budget that works for you (pixels)

Buy local product

We like to search for the best products and brands to solve a problem that bothers us, such as the best ointment to treat the skin, the best car cover, or the best slimming tea.

We believe that by searching in English the products will surprise us with their 100% guaranteed efficacy, so that you feel it is inevitable to buy them, before you think about the cost of shipping from another continent, with taxes and customs, to receive a good product but at many times its original price.

Local companies offer products of almost similar quality, at less than half the price of the importer, and offer offers to market their product, and all you have to do is give them a chance, it will not be as expensive as giving an opportunity to another product that costs you hundreds of dollars.

Buying and selling second hand

In the past years, several applications for used goods have spread in the Arab market, and most of them adhere to standards that guarantee the confidentiality of user data, the feature of preventing fraud, and the provision of shipping service at a low price, with an opportunity to browse different products ranging from cars and electrical appliances to children's supplies.

Local companies offer products of almost the same quality for less than half the price of the importer (pixels)

Buy seasonal food

Many people love black and blue berries, but did you know that strawberries are from the same family and have the same nutritional benefits?

We usually encounter these options, but we avoid them. Freekeh contains nutritional benefits that exceed Indian rice, which is a widespread plant in our Arab world. Cauliflower is a plant that does not differ from broccoli, but its price is lower. If we touch on fish, you will definitely find mackerel cheaper than salmon, and both are rich in acids. fatty;

You can analogy with this when buying vegetables and fruits, as fresh vegetables in the summer are less expensive than frozen in the off season, and you have a natural opportunity to eat summer fruits in their season, instead of looking for other imported or preserved ones, so as not to fall prey to the greed of traders who spend money to preserve Vegetables after the end of their season, and sold twice the price.

Stay away from stress and anxiety

Following the news of global inflation raises our fears and makes us feel a threat to our financial and employment stability, but what does stress do to us?

It harms our physical, mental and psychological health, negatively affects our work, and prompts us to quickly despair and search for material means that make us happy, such as fast food, shopping and thinking about borrowing, to get rid of the feeling of pressure.

The accumulation of stress causes a state of stress that is difficult to get out of, so you must prepare for it with a strategy to reduce it, such as practicing breathing exercises, walking around the house daily, writing a diary about your stressful feelings, and changing your response to stressful daily events, from a threat to a challenge that will pass peacefully.

Following the news of global inflation raises our fears and makes us feel a threat to our financial and employment stability (Getty Images)

No to bank loans

If you need money or lose your job like thousands during the pandemic, turn to family and friends who love and care for you, and say, “I lost my job, I need money, and I can’t promise when I will return it to you, and your refusal will not harm our friendship.”

This should be your first step before considering loans against your salary or property, because of the unacceptable high interest rates for a person suffering from a financial crisis, and in order not to pay multiples of the loan when the payment is late.

Even if you can afford all of your monthly debt payments, you are trapped in your current lifestyle by staying in debt, leaving your job for the sake of the family, changing profession, retiring one day, or moving across the country on an extended vacation becomes next to impossible if you constrained by debt repayment.

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