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What Can I Do To Prepare For A Financial Crisis

What Can I Do To Prepare For A Financial CrisisWith the deteriorating financial climate it is wise to be prepared for any eventuality, whether it is inflation or an economic collapse leading to hyperinflation. Inflation is the most damaging factor affecting the modern financial society. Having a nest egg that is external to the banking system is a good way to be prepared for the worsening financial crisis. There are many ways in which you can create one which won’t be affected by Dollar depreciation or government intervention.

One of the best ways to hold assets is in the form of gold or other precious gemstones. Gold and silver are a form of currency which will survive inflation and hyperinflation. When the Dollar is devalued to the extent that it is worthless gold and silver will still have purchasing power.

As the value of the Dollar decreases the cost of gold and other precious materials increases. This makes gold a valuable source of finance in any economic situation. As gold is a rare commodity its worth is likely to rise with the decrease in the value of the Dollar as a result of inflation. A decrease in value will rarely be extreme. For example, a gold bullion bar weighing one ounce priced at $900 could potentially increase by 30{5b245c95e511c7e9a6af3cf9180a2dc0b5d964e7a56285cfda77a5765460b625} in a year making the gold bullion bar worth $1,170. According to goldprice.org the net value of gold has increased by 534{5b245c95e511c7e9a6af3cf9180a2dc0b5d964e7a56285cfda77a5765460b625} in the last 15 years. This correlates to the inflation of the US Dollar and is proportional to its value over the past 10 years. The ‘R’ of gold, which represents its base constant value, is between 0.85 and 1.15 (wikipedia.org). This means that statistically a gold bullion bar with an R-value of $900 will never be worth less than $765, which is a 15{5b245c95e511c7e9a6af3cf9180a2dc0b5d964e7a56285cfda77a5765460b625} decrease in value. Evidence shows that in the last 10 years there was a net increase of 519{5b245c95e511c7e9a6af3cf9180a2dc0b5d964e7a56285cfda77a5765460b625} in the value of gold. In a sentence, as inflation or hyperinflation occurs the value of gold and other precious resources increases proportionally.

As of March 2013 the global debt was set at $50.3 trillion and is rising exponentially (economist.com). Providing this trend continues, it is likely that the value of the Dollar will continue to decrease due to inflation. This means that the value of gold and other hard assets will continue to increase. Gold is not the only substance that will increase in value due to the substantial depreciation of the Dollar. This is true of almost all commodities that are limited in amount. Oil like gold will increase in value exponentially within the next 15 years. Unfortunately due to the volume of space required for storing oil, it may not be feasible for large amounts to be stored by members of the general public. Precious metals and gemstones can be more easily held making them a valuable way to store money for the future. Primary hard assets such as land, fuel or precious metals should be purchased before any economic crisis such as when inflation or hyperinflation occurs. These assets possess a constant intrinsic value independent of the economy. Fewer Dollars will be required to obtain them before any worsening of the current financial state. Once held these assets should be stored outside of the banking system to avoid government intervention such as in New Orleans following Hurricane Katrina when martial law was introduced.

Another important way of preparing for inflation or economic collapse is:

Buying large amounts of essentials. Stockpiling food is often associated with survivalists and conspiracies. This is not the only use and motive. A man in America became entirely reliant on his stockpile last year and lived almost nine months mostly using his storage supplies of food in the basement when both he and his wife lost their jobs. They also had to take on a family member who had lost their house and moved state in the same year (Survive!:Episode 1095). Most cases will not be as severe as this but having a small storage supply of food can help in many economic situations from losing your job to not receiving a paycheck and being short on cash for a limited amount of time. It should be noted that, when storing food, hard assets or liquid assets, government influence should be avoided. Money should be withdrawn and stored in the form of gold or silver in segregated safe deposit boxes outside of the banking system as this will prevent government confiscations such as in 1933 under President Franklin D. Roosevelt.

Using these methods allows for a financial safety net that can help in almost any economic hardship from inflation to economic collapse.

How To Get Your Bond Money Back

How To Get Your Bond Money BackMoving to another house entails a lot of work. You do not only prepare the new home but you also have to clean and put everything in order in your current abode. In order for you to get your entire bond back, you have to consider bond cleaning. When you rent a place, you will be required to pay for a deposit fee which your landlord will utilize for the cleaning or for needed repairs should you decide to leave. This is where you will need the cleaners. They will clean-up the whole place and do minor repairs so that the house will be in perfect condition again. If the owner sees that you took care of the abode, he will give you back your deposit.

To ensure that you get the property into its former state, you need to have the bond cleaning checklist. This is a list of furniture and other items that are found in the residence when you moved in. It also includes the condition of the permanent fixtures. This will be your guide on what to fix or to clean before your scheduled move. The following are steps to help you in putting things back in order.

1. Check for broken items. Replace if there are any before you return the key. Take a look also of the light fittings and some screws that can be missing. If your landlord is strict about these things, once he sees anything missing or broken, he will definitely take a big chunk off your deposit.

2. If the place has carpet flooring, decide if you will clean it yourself or if you will hire a carpet cleaning specialist. To help you decide on this, compare the current state of the carpet from the first time that you have stepped on it. Through this you will know if it will need lots of work or just simple vacuuming. Remember to restore it to its former state to avoid any problems with the owner.

3. Do check the wall for any stains. If you found some, clean it by wiping it gently with a damp cloth. If it is tough to remove, use soapy water. Make sure that you don’t put too much force to it because if you do, it will damage the paint. You definitely do not want to spend money and your time repainting it.

4. Make sure as well that the windows are properly cleaned. The glass should be clear and free of unappealing streaks.

5. Last are the ovens, refrigerators, and other appliances that are already there when you moved in. Clean them up and see to it that the seals of the oven and the fridge are still working.

If you have lived in the house for too long, surely the state of it is different from the time that you moved in. If you think that there is a huge difference, you can hire a bond cleaning company. They will charge you with a single bill instead of billing of you for every task that they do.

Simple Tips to Repair Bad Credit Rating

┬áIn today’s downward spiralling economic condition and skyrocketing prices, it is easy to fall into the muddle of bad debt. Dealing with bad credit can be a harrowing experience, but with sound strategy and die-hard dedication, you too can repair your bad credit score. There might be several reasons why you found yourself with a bad credit score, including downsizing of workforce, legal lawsuit, spending beyond means or heavy medical bills stemming from an accident. Repairing bad credit score is a long haul procedure that requires significant amount of your time, effort and most importantly fundamental changes in your spending habits. Listed below are tips that will help you repair your bad credit score.

Credit report

Until and unless you have not improved your credit score, you limit your chances of ever securing any loans from a lender, be it home loan, auto loan or a general loan. First, get your copy of credit report from your credit bureau and carefully review your existing debts. If you see any errors in your credit report, correct it immediately before it has any adverse impact on your credit standing. You can also contact your creditor regarding the error mentioned in the reports, who will in turn get in touch with the bureau to immediately rectify it.

Outstanding debts

If your credit report is showing bad score due to outstanding debts, try repaying them as soon as you can. Pay off those debts first that commands a higher interest rate.

Automatic bill payment

Habit of paying your bills late can also have adverse impact on your credit score. Set up for automatic bill payment option through your bank; the setting will enable you to pay your bills on time excluding the burden of remembering tiresome due dates or writing checks. You will be surprised how the minor change can radically improve your credit score overtime.

Contact creditors

If your debt is piling up and you are unable to see any way out, try contacting your individual creditor. Request your creditor to modify your repayment plan in a manner so that it is better manageable for you. Give assurance to your creditor that for all intents and purposes you are planning to repay the entire debt owed to them to the best of your capability.

Also, call up all your credit card companies and request them to slash down on the interest rate applied on credit cards. Most of the companies will oblige you; use the reduced interest rate to pay off your outstanding debt as soon as possible.

Budget your expenses

Collect statements about your quarterly, yearly and monthly bills. Carefully analyze the statements based on which to create a budget and try adhere to the allotted budget as long as you can. Try not to spend beyond your means; the budget will help you realize your actual financial position consequently aiding you in coming up with ways to save money.

Keep your account open

Many people believe that quick fix to bad credit is closing the account permanently. Cancelling your credit cards is not going to be of any assistance in repairing your bad credit score. On the contrary, the credit history will eventually help improve your credit standing. Aged accounts are very helpful in achieving your long-term credit goals.

The aforementioned points will only help in improving your credit rating up to certain extent. To completely alter your bad credit histories seek counselling from a reputed credit expert.

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