That is what you should not do in crisis time:

The text, in general, is more about base rules of financial literacy, but in it there are also interesting thoughts concerning investments into financial assets and real estate. It seemed to me that this note can help to lay in a head some things in a correct order.

Ignoring a situation. If you didn’t pay attention to a situation with your personal finance now it is a high time to make it. How many credits do you have? For how long you can live on savings if will lose the income? The ostrich’s management method never works as money. Hold the breath and look on house cash, a condition of your accounts in banks, the sum of credits. Pay accounts and review the budget in search of superfluous expenditure. Freshen relations with creditors and track, whether you tighten payments.

Pulling out money from investments. If you take away money from contributions, shares after asset prices have decreased, receive at once some problems. First, probably, you should pay for too early conclusion of money. Secondly, you will lose an interest income in bank. Thirdly, probably, it is necessary to pay taxes. At last, you can drop restoration of the market and growth of your assets. Don’t make decision in a fear condition; consult with more counterbalanced and skilled people. Accurately in advance understand how much money you will lose at premature closing of investments. Probably, in it also there is a sense, but anyway it is necessary to see the entire picture.

Borrowing money. Credit cards and consumer loans pull out money from your purse every month. Besides, if you are mistaken with payment entering can get on penalties and the raised percent which is usually much more above current payments. Therefore and in a normal situation borrowing money is dangerously enough and if there is a danger temporarily to lose an income source, it is total madness.

Now it is a high time to show consideration for the work and career as much as possible. Millions of people lose work, and your task is not to appear among them.

Acting as the guarantor under another’s credits. If the friend, the relative or the fellow worker asks you to be charged for its credit in bank it is better to offer your help in other kind and in those volumes which you presume. Otherwise if something happens you will suffer much more strongly as the bank won’t get rid of you.

Real estate market. Now the prices for real estate seem quite attractive in comparison with the prices a year or two ago. Probably, you will have a thought to purchase apartment — for cash or on credit. It is not the best idea. On the one hand, the prices can continue to fall, and your investment will turn to be a long-term and unprofitable investment.

It is very crucial that government, despite this recession is not leaving to help small businesses. And small business grants can be a true helper today.

But, surely, you should remember that today the fight for small business grants as well as for other types of grants is harsher. This is natural – more businesses need them. So before you start your battle for the small business grants, please make sure to check out this blog for more info about grant industry.