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  • Warning of economic downturn and two things you need to be prepared for

    Warning of economic downturn and two things you need to be prepared for

    The economic situation is expected to be difficult in the next 2-3 years. Covid 19 will continue to happen more and more complicatedly and difficult to terminate from the community. Foreseeing this prospect will help you prepare firmly to ensure the financial security of you and your family. Well in this article, there are also advertising templates suggested by Google, when you finish reading, click on these ads to support Phuc Tai to continue to produce even better content! Thank you very much.

    The series of financial difficulties are still right ahead

    Everything seemed to stall. And day by day, people will increasingly narrow the expenditure. Making the cash flow, transactions are increasingly scarce. To put it bluntly, the harder it is to make money each day. Now is not the time of spending spree, but from now to the next 2 - 5 years, to go on defense. Just move your business to online and save money in case risks arise.

    Perhaps because Vietnam is controlling the epidemic well, many people gradually forget the existence of the danger Covid 19. But did you know that, right now, on June 25, 2020, other countries and all The world is struggling against the epidemic. Even if Vietnam has good control over the epidemic, the economy will still be blocked, due to the lack of money flowing into foreign transactions. In other countries, they also have to defend money to fight against epidemics, where can they use money to think about other transactions.

    Many people say that some occupations will be afloat in a pandemic. But it is difficult, because the entire economy is interconnected. Fortunately, there is a medical profession. But not everyone can switch jobs to health care and do it right away. Everything spent on everything from eating, housing, traveling, playing, ... has become limited. People have a tendency to shrink before the threat.

    Not to mention, if you have the foresight, you will find that, this Covid19 Pandemic, will continue to prolong and break out even more. The translation has not reached the top yet. It will last, 2-3 years. Everything and all difficulties are still ahead. It's not time to be optimistic.

    Job # 1: Limit spending - Accumulate money

    After all, in the first months of 2020, when a pandemic and social isolation occurs, with wages and income flowing in every month, suddenly losing jobs, low revenue. "Stumble" happens. Many, many people have had lessons for themselves. Unfortunately, Vietnam has been preventing epidemics early, life has returned to normal, causing many people to return to a state of optimism. Not so, there are still extremely many difficulties and dangers lurking ahead. Please know to accumulate so that there is no late regret.

    Normally, the financial management principle that Phuc Finance applies is: There is always 6-month room accumulation.

    That is, a month you estimate the minimum cost of living for yourself, such as 5 million for example. Then you need to plan the amount: 6 months multiplied by 5 million is 30 million, to prevent changes happening such as: quitting, losing your job, the start-up period, money has not returned, illness, ... To ensure life. You don't have to worry about daily money and rice, it will always help you to focus on working and doing business, and avoid being in a hurry to ruin a big job. If you are married, then you need to estimate the minimum living cost for your family, for example, 15 million per month. 6 months is 90 million. You need 90 million cash to defend.

    This 6-month room accumulation amount, you accumulate and send to the bank, 1 month period. There are work to get used, if there is no sending again 1 month term. Deposit one month in case, you need money urgently, if you withdraw it, you will not lose interest.

    However, it is in normal mode. What about the Earth that has turned on the Emergency mode for Pandemic Covid19 as it is today?

    First of all, you need to realize that, this pandemic, it is boring to end. Do not be too optimistic to stamp out soon. Not only that, but also to always prepare the mind, the translation can explode at any time. And Phuc Finance predicts always: You need to prepare hedging plans within the next 2-3 years.

    And first, you need to accumulate for yourself and your family if you have a family, a 2-year hedge fund. Before you accumulate enough funds, don't waste it.

    One month itself needs 5 million, 2 years, 24 months needs 120 million.

    A family needs 15 million a month, then 2 years, 24 months needs 360 million.

    This money is sent to the bank is the best. Because if you buy gold, when you need to sell it, you have to depend on the price of gold at that time. and 5 years, the possibility of inflation is not much. In economic times like this, financiers will come up with a lot of tricks on gold and land to control for profit, so you will not be able to know in advance what they do. So the money to accumulate for a long time, 20, 30, 40 years is in gold. But a short 2-year money, and important for you to use it at any time, it is safer to bank the transaction.

    It is your preparation for your personal life. What about work and business? Please come to the shares of Phuc Finance right below:

    Job No. 2: Shifting the business model partially or fully to online form

    In the past, many businessmen, when it comes to me, I have many stores, many stores operating, renting many beautiful premises is very proud. But when the Covid19 pandemic struck, it was a blow to those who were doing business on this direct premises. Cash on hand is still eating up, but revenue has dropped dramatically. And the danger for these people, still exists, is not over yet. And if you are also in a business that depends entirely on direct premises, this is also a warning to you.

    The global Covid19 pandemic has been, is and will continue to be complicated and complicated. And like the change from the Stone Age, to throw stones to throw animals, to hunt with ironware, to switch to holding knives and sickles. Nowadays, making food for people will be replaced by a labor tool holding a computer "mouse". People will increasingly limit out to the streets, which will turn to stay on the Internet more and more. And the pandemic happening will make this process happen many times faster.

    I cannot resist the change of nature. There is only a way to adapt. Therefore, instead of expanding, encroaching on the yard, or depending on sales at the premises as before. Gradually shift from 30% of online sales, then gradually 50%, then 80, 90, 100% are the best, to keep pace with the times.

    What you do is very simple:

    - Step 1: Look for additional products, then gradually move to the main product that can be packaged and distributed far away. No need to use or buy directly at the store. Like hair shops, they sell more shampoo online. Even if the hotpot shop can ship online, nothing cannot be done. Even spas, fully repackaged skincare for home care using lotion jars, ...

    - Step 2: Build website, youtube page, including articles, videos to share experiences, share valuable knowledge and advice, sales, ... These are the two main pages because content communicates yes can be deeply impacted. In addition, other media distribution channels such as facebook, tiktok, ... other genres. To create a communication channel connecting with customers and spreading value to the community

    Just do it gradually, because even if you can't get online revenue right away, these sites are also useful to you because they still serve directly for connecting and influencing customers from your direct channel. .

    Days ago working online or not was an option. Today it is a must. Mandatory to sell on Online channel, completely replace or partially replace direct sales channel, premises.

    Translation is still lurking at risk. Like strong waves at sea just crashing down our financial boat. It is impossible to change those waves, but it is completely possible to prepare and design a more solid and solid battleship, with lots of relief buoys in case the worst happens. I wish you a successful preparation for this pandemic.

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