Financial Safety Advice

Since the international financial crisis has exploded worldwide, the first reaction of the market is the stay, but it is for people who face a global crisis, the first thing to do is decide to protect their funds at home and leave there until the end of the crisis.

These reactions are very common in much of the population, but nothing is worse than making that decision. Why? Simply because as the crisis progresses, prices increase and inflation rises, the money that we keep under the mattress will lose value purchase. If before, EUR 10 bought two milks, tomorrow will buy one-thirty, due to the rise in prices.

Then it is clear that cash, paralyzed, does not work. Here the best approach is to invest the money, however little it is, in several different assets together. Although it is very common, you should not invest all savings in a single asset, because if it does not work lose all the money.

Here, it is best to invest, for example, in a fixed time in a mutual fund, stock or perhaps advised by someone you trust. It could also be one of these financial assets plus the capital contribution to another project, in exchange for future profits. The options may be several, some of our country and others with specialist advice. The truth is that nothing will save it under our mattress.

The issue is not to stop making money and that is what they are complying strictly financial institutions, in light of declining revenues by lower demand for mortgage loans before the crisis in the sector.

To avoid this situation, many financial institutions have decided to raise the fees charged for their cards, in what refers to the credit, which we have raised its annual fees by 16% to 28.89 euros on average, while debit cards have risen to 13.71 euros and withdrawing cash on credit from the bank itself these commissions are located in the 2.82% and if on the same network but a different bank reaches 3.98 %.

But not content with this, banks have also decided to raise fees for the opening of new loans, not mortgages, up 2.77% maintaining the same level as in 2007 the other committees, such as study or the maintenance and account management.

So, we have no other choice but when we become annual fee card, go to the bank to try to pay us the amount charged or not to pull cards or apply for loans, more difficult and in times of crisis.