7 hard money lessons of Nicolas Cole is the answer to your question: What should I do BEFORE the Financial Crisis? This video will tell you how to be financially successful at a young age just like Nicolas Cole himself. Let us see what he has to say.
I was only 18 years old when the markets crashed in 2008.
I hadn’t yet stepped into the real world. I didn’t have a full-time job or a working relationship with money. I didn’t truly have the context or a larger understanding of what “a crash” meant, and how it was impacting people’s lives.
Looking back, of course, it makes sense why my parents were overly stressed during my senior year of high school. I can at least imagine what they must have been feeling. But I would have been naive to think I truly knew what that sort of burden feels like myself.
At 29 years old, I am now experiencing my first “global recession.”
Millions of people are filing for unemployment. And you are wondering how to prepare for the next financial crisis or even how to prepare for the next great depression.
When you’re out of school, and you start working your first job, and even as you begin to make strides in your career, it can be very easy to think that what’s currently happening will happen this way forever. Older, wiser, more experienced people than me know this is far from the truth.
While this is certainly my first recession, my first global pandemic, my first time being an adult in the working world and being personally and individually impacted by what’s going on, I am reminding myself that life ebbs and flows.
Markets go up. Markets go down. The opportunity will boom. And the opportunity will slow.
But it’s those who remain calm and optimize for these waves of change who end up being successful over the long term.
Here are 7 steps to save your financial life now that I encourage everyone to keep at the forefront of their minds when it comes to personal finances during, throughout, and after the current global meltdown. These 7 money lessons with enable you to manage your personal finance for the next financial crisis:
1. It’s not about how much you make.
It’s about how much you save. Save money for the next financial meltdown. But, how to save money for the next financial meltdown. You should maintain an emergency fund. However, saving money for emergency fund is not easy. Watch the animation to know more.
⛳ TIMESTAMPS ⛳
0:00 Global Recession and Hard Money Lessons
3:12 #1 Saving money for emergency fund
4:09 #2 Never underestimate Cash On Hand.
5:13 #3 Live by the 50/25/25 model.
6:55 #4 Have a plan for the worst-case scenario.
8:17 #5 Work to create multiple streams of revenue.
9:38 #6 Spend time around financially prudent people.
10:46 #7 Don’t ever “bet it all.”
13:04 How to inculcate smart & intentional living?
💡 Highly Recommended
9 STRATEGIES to Achieve SUCCESS in Life: https://youtu.be/t4-3FiUhZSM
10 Professional LIFE HACKS for Successful Life: https://youtu.be/XaMYsYRbGJ0
What should I do BEFORE the Financial Crisis?: https://youtu.be/_SQQXZoPjiw
4 tips to CURE procrastination FOREVER: https://youtu.be/nWIVsHUT-Wk
CROSS TRAIN your brain for BETTER Productivity: https://youtu.be/vEilEgKM8Ko
CHANGE life for BETTER by being CONSISTENT: https://youtu.be/fruM8XGGEr0
How to stay focused while working at home?: https://youtu.be/Dx6Yl4XLsww
💡Books by Nicolas Cole
1) Letter To My Imagination: https://amzn.to/3cqRNyl
2) Confessions of a Teenage Gamer: https://amzn.to/34Pk9Qj
3) Slow Down, Wake Up: https://amzn.to/3afFfbH
💡This was initially published as an article in Medium by Nicolas Cole: https://medium.com/the-ascent/7-hard-money-lessons-people-are-going-to-learn-during-this-pandemic-9936de65aa65
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