Editor’s Note
- 5 financial wisdom tips amidst global geopolitical uncertainty
- Do not increase your debts and do not make installment payments
- Do not give up too quickly
- Do not rush into expanding your business
- Start living more frugally
- Be cautious with investments and fraud
5 financial wisdom tips amidst global geopolitical uncertainty
As we see in the news, the current global situation is unstable. Wars are breaking out in various regions. The global economy is beginning to feel the pressure as a result of global geopolitical uncertainty.
Indonesian President Prabowo Subianto has even called on the public to prepare for possible economic adversity.
These five wisdom tips include: avoid increasing your debts, do not simply quit your job, postpone business expansion, start living more frugally, and be cautious with investments and fraud.
In short, in these difficult times, those who manage their finances wisely will survive.
Do not increase your debts and do not make installment payments
It is advisable not to increase your debts, for example by buying a new motorcycle or car with a loan, but to use your existing car or motorcycle instead.
Do not quit your job without careful consideration
For those who already have a job, it is advisable not to quit without careful consideration, especially after Eid al-Fitr, as it becomes increasingly difficult to find a job then.
If your employer is still paying salaries on time, that is already a good sign.
Do not rush to expand your business
Entrepreneurs are advised to postpone opening new branches due to the uncertain economic situation, unstable purchasing power, and people’s reluctance to spend money.
Start living more frugally
It is advisable to spend money only on truly necessary things and to cut unnecessary expenses, as money is essential in difficult times.
Beware of investments and fraud
In difficult times, scammers often appear with promises of large, unrealistic profits.
Be careful, because if an offer seems too good to be true, it is most likely a scam. ***aitik
