Showing posts with label Crisis. Show all posts
Showing posts with label Crisis. Show all posts
How to Make your Finances Crisis-Proof
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| Chinese Characters for "CRISIS" |
Staying Calm During The Storm:
Tips on How to Make Your Finances Crisis-Proof
By Nina Laquindanum
For quite some time now, investors throughout the world have continuously been shaken by the news from Europe. The debt crisis of Greece, the European Union’s bailout plan, and the shocking announcement of former Greek Prime Minister Papandreou to hold a referendum have just been some of the events in the past weeks that have left the world watching the drama unfold from the edge of their seats. The past few days, the focus has somehow shifted to Italy as investors remain cautious about whether it will be next to take the hot seat after Greece with its debt. While news in other parts of the world do not seem as drama-packed as Europe, the bankruptcy filed by MF Global Holdings Ltd., the high rate of unemployment in the United States, as well as the slowdown in the economy of China, are among the other stories which have made investors skittish about what lies ahead.
Welcome to Crisis!
"WELCOME TO CRISIS!" We echo Roger Collantes as he says this out loud with a cheerful tone. Indeed, crisis is the new normal. Everyone faces one form of crisis everyday in our lives and instead of associating crises with all sorts of negativity we must face it with positivity.
On a private event sponsored by Banco de Oro (BDO), we got a complimentary copy of Roger Collantes' Beyond Survival: How To Thrive Amidst Life's Inevitable Crisis. The book tackles issues on how to view crises in a positive light, how to turn it to your advantage, and how you can learn to thrive in it and live meaningfully in the midst of it. This was just last week. BDO must have sensed that an imminent crisis was coming as today the PSEi closed at 4,157.03, effectively erasing all gains the PSEi had from the start of the year. Not to mention of course, the bloodbath in all global markets. In times like this, the author has this to say ... "Don't get BITTER, get BETTER!"
The reality is we face some form of crisis everyday in our lives. And we must constantly find a way to develop the necessary skills to survive and triumph over these. It is also a reality that nobody out there is going to save us from our crises and that we must rely on ourselves. The battle lies within us and the good news is, we have been properly equipped to survive and thrive amidst all these.
"Life isn't about waiting for the storm to pass. It's about learning to dance in the rain." -anonymous-
While crises result to a lot of negativity, these also bring forth a lot of good things. For one, a crisis is often considered as a necessary ingredient for our personal growth and transformation. It is when faced with the fact that we have less resources but have to do a lot more that we suddenly realize that there's no choice but to step up. And people do step up most of the time.
The author lost half of the value of his investments in the stock market during the 2008 financial crisis. He has these 3 Investments Myths to share.
1. The Stock Theory
- Before: What goes down will GO UP, EVENTUALLY.
- Today: What goes down will GO DOWN LOWER ... and LOWER ... and EVEN LOWER (The Freefall Theory)
2. The Markets Theory
- Before: When one market is DOWN, other markets are UP to make up for it.
- Today: When one market is DOWN, they BRING DOWN other markets with them! (The Pandemonium Theory)
3. The Diversification Theory
- Before: Don't put ALL your EGGS in ONE BASKET
- Today: HOLD ON to all your eggs and THROW AWAY THE BASKET! (The Panic Theory)
We can't wait to finish this book and share the insights on how not only to survive but thrive in times of crises. We hope you learned something from this post. Keep on attracting wealth Money Magnets!
"Don't waste a good crisis."
"Don't get BITTER, get BETTER."
"Make the most of what you have, right here and now. Every moment you waste is a moment of happiness gone forever."
- Roger Collantes - (BEYOND SURVIVAL)
We would like to thank BDO and the generous donor who gave us this book. It is not only timely but very inspiring as well. Thank you!
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