| We all have financial hardships at one | | | | two things one is retirement and the |
| time or the other. In these recessionary | | | | other is days like these when you have |
| times it is always likely that you will | | | | no money or inflation is wreaking havoc |
| lose a job or see inflationary pressures | | | | on your expenses. |
| destroy your monthly budgets. In all | | | | If there are inflationary pressures and |
| these hard times people tend to | | | | cost is going up then make sure that you |
| generally go for options so that they | | | | cut down on your expenses in a big way. |
| have enough liquid cash. That said the | | | | If take your car to work then try to use |
| first thing that your mind races to is | | | | a car pool which will save you gas |
| your retirement savings. | | | | money. If you drink coffee try to avoid |
| The lure of that easy cash that you | | | | those expensive coffee you get at the |
| stashed away in some form of investment | | | | retail coffee shops instead try to brew |
| or the other is so strong that is very | | | | coffee at home. |
| likely that you will take money out of | | | | If you are looking at an expensive buy |
| those investments. You will use that | | | | like a big television then put off that |
| money to get out of that tight situation | | | | purchase for a few months. Avoid buying |
| you are in. The negative side effect is | | | | those expensive clothes and look for |
| that you have just reduced a huge chunk | | | | sale and discount signs wherever you go. |
| of money from the nets egg that you were | | | | All these will help you free up some |
| trying to build. | | | | extra cash for the hard times. |
| It is all the more necessary that you do | | | | Make sure that you cut down on your debt |
| not touch these investments as it will | | | | in a very serious manner and free up |
| mean that when in the old age you need | | | | some additional cash. Also taking money |
| cash the most you will have no money. | | | | out of retirement schemes is a steep |
| To tide over these financial tight | | | | loss and to build that nest egg again |
| corners so need to be very strong | | | | will take you a few years. So make |
| mentally. If you are out of your job try | | | | frugal living alone can help you tide |
| to at least earn money for day to day | | | | over tough times and make sure that your |
| expenses by working part time or working | | | | retirement nest egg is safe. It is this |
| as a free lancer. That leads us to | | | | nest egg that will help you when you are |
| another major point which is that when | | | | old and have no active cash flow to help |
| you are good times you need to save for | | | | you. |