Personel Finance Essay Example | Topics and Well Written Essays - 250 words

Personel Finance - Essay Example In the event that I lose my job and I do not have a source of income, I will adjust my financial lifestyles, budget and the financial plans that I have. The following analysis will look at the specific steps and how my new lifestyle will be like. The loss of job will be characterized by decline in my income; hence difficulties in making my ends meet. The first will be to accept this new situation and discuss it with my important people in my life. I will adjust my budget so that I only spend my money on the basics of the life and only on what I can afford at the current economic status. This means I will adjust from spending on the things that do not bring any value in life at current status. For example I will stop going out or adjust to going out to the places that I can comfortably afford. I will invest the remaining resources to get another source of income such as securing another job or any income generating project. I will stop buying expensive clothes and only buy the basics. On the long term basis, this will affect my expected investments such as building my own