The practical guide to debt management methods during the covid-19 recession. Adapt to the new normal. Enroll now!
What you will learn
☑ List to cause and effects of the recession caused by covid-19 into the life of an individual.
☑ Keep yourself on top of the recession-related issues and apply debt management methods during the covid recession.
☑ Device a master plan to overcome recession and stay out of the traps of recession associated distress.
Welcome to the comprehensive course on Practical debt management methods during the covid recession.
R Tutor is a team of training professionals who explain complex information in the simplest form with relevant examples.
We are all spending a disproportionate amount of time trying to figure how the world will be after this corona saga. Some romanticize work from home; some fear the deepest recession; some imagine complete government control of our lives, and some like to see the end of flap validation and return to local community-based living. We just don’t know.
We love living in the tomorrow. The idea that there is a better place to go to, and that somehow it will all be different, and nicer. So we imagine we will holiday after retirement; get fit someday in the future, and begin saving and retire our debts in that bright tomorrow. Our resolutions for our post-covid-19 world are quite similar. They help us cope, deny, forget and escape current realities. This course covers every aspect of the application. It helps you master the most needed knowledge and to create create a pool of wisdom by completing this course, Practical debt management methods during the recession.
On completion of the course, you will be able to:
List to cause and effects of the recession caused by covid-19 into the life of an individual.
Keep yourself on top of the recession-related issues and apply debt management methods during the covid recession.
Device a master plan to overcome recession and stay out of the traps of recession associated distress.
No prior knowledge on this topic is required.
Everyone can take this course and it best suited for:
Individuals and families facing the impact of recession due to covid-19.
Professionals and business owners looking to minimize the effect of the recession.
Everyone who is involved with any kind of business or financial institution.
Your wait is now over. Here is the course which helps you get started and fully equip you with the protective measures against recession.
It’s the beginning of the new normal! Enroll now!
Prerequisites & Target audience
Table of content
Definition of recession
What happens during a recession
Average duration of recession
Causes of recession
Recession due to natural disaster
Recession due pandemic
Recession due high interest rates
Recession due a stock market crash
Recession due falling housing prices
Recession due Industrial slowdown
Recession due to regulation
Recession due to poor management
Reason for 2008 recession
Reason for 2020 recession
Emotional Effects of recession
Loss of jobs and employment
Disturbed family life
Unwanted lifestyle changes
Crunched family budgets
Lack of business opportunities
Fluctuation in real estate value
Loss of education opportunities
Increase in debt
Financial effects of recession
Costs Associated with Direct Losses
Costs Associated with Indirect Losses
The Commodity Effect and Scarcity
The 5 Stages of Grief & Loss
Stage 1 – Denial & Isolation
Stage 2 – Anger
Stage 3 – Bargaining
Stage 4 – Depression
Stage 5 – Acceptance
Coping With Stress – Pandemics
Talk about it
Spend time with friends and family
Take care of yourself
Limit exposure to images of the disaster
Find time for activities you enjoy
Take one thing at a time
Do something positive
Avoid drugs and excessive drinking
Ask for help when you need it
Reasons of Loss of Job / Work
Lack of Motivation
Low Job Performance
Minor issues of conduct/misconduct
Capability / Performance
Breach of a statutory restriction
Managing Unemployment Stress
Why is job loss so stressful?
Grief after job loss
Reach out to stay strong
Involve your family for support
Face your feelings
Get moving to relieve stress
Eat well to keep your focus
Take care of yourself
Stay positive to keep up your energy
Coping with Business losses
Find someone who will listen to you
Communicate completely what happened
Write down what you learned
Make it firm policy
How to survive recession
Preparing for a recession in advance
Create an emergency fund
Pay off all possible debt
Create new income opportunities
Branch out your investments
Reduction in regular expenses
Keep the money flowing in
Keep saving as much as possible
Find ways to enjoy life
Stop Impulse Buying
Create a 30-day waiting list
Avoid going to big malls
Reward yourself without spending
Avoid online shopping websites
list and a plan for your purchases
Check reaction to impulse buying
Research alternatives before a purchase
Healthy food tips in epidemic
Keep up fruit and vegetable intake
Dried or canned alternatives
Build up a stock of healthy snacks
Limit highly processed foods
Make cooking and eating a fun
Maintain General food hygiene
Drink ample water
Take citrus food and Multiviamins
Moonlighting Jobs to Earn Extra
Hotel Night Desk Clerk
Bartender or Hostessing
Beach or Pool Lifeguard
Local Tour Guide
Freelance Blogger & Writer
Money tips for salaried earners
Make a budget & start saving
Frame your financial goals
Invest in right instruments
Maximise tax savings
Opt for the right insurance
Improve your salary structure
Save for an emergency
Avoid debt traps
Saving on day-to-day expenses
Reduce or eliminate dining out
Cook all meals at home
Reduce intake of Soda
Prepare coffee at home
Do your own personal grooming
Clean your car at home
Avoid professional dry cleaners
Exercise without Gym
Solutions to get rid of Loans
Reading Law books related to Debt
Prioritizing the loans
Stop taking further loans
Pay yourself first
Debt relief Order
Protected Trust Deed