Many economists and professionals are insecure over the coming issues raised by the recent increase of petrol prices, which jumped to Rs. 209/liter. The finance minister, Miftah Ismail said yesterday that the increase is expected due to the IMF program. The problem lies not in the increased prices but how to survive in the economically bad condition is the concern for many. People are expecting the doubling of prices of each product they consume. Here are some tips given by professionals for survival in this hard time.
Prioritize and save your money to pay your loan first, if any.
Invest in high yielding assets like T-bills, PIBs.
Go for liquid fixed income funds.
Take a long-term endowment policy.
Don’t spend much on imported items, try local substitutes.
Spending less saves more, minimizes the effect of inflation, so spend wisely.
Limit your commuting, eat simple food, save for health and emergency situations.
