BEST WAYS TO SURVIVE THE DEATH OF THE DOLLAR

Well, finance is a thing that attracts a number of people; we all feel affection for money and always desire to get some extra amount in our wallet. However, economics does not permit it easily and we face certain sequences due to which we lose our wealth. In modern times, especially in USA, the dollar is fluctuating very dynamically, sometimes it is helping American economy but sometimes it is screwing it. Therefore, the main question arises, how we can survive the death of the dollar, when a number of factors are influencing economy. Here, we will discuss all of that:-

Many signals are representing that the world is leading towards a huge fiscal collapse. The paper money on which we are depending so much is trailing its value with the time. What is going to happen when this paper money will be worthless? Can we purchase goods for ourselves? Can we afford shelter for our family? There are many factors like inflation, unemployment, population explosion, global warming, terrorism, migration, etc., that is responsible for the economical drawbacks. The biggest and most recent economic disaster occurred in USA was in 2008, when trillions of dollar were vanished in few hours. This was, called as “The Great Recession”; American economy is still trying to overcome that setback.

We have a stupid routine of spending and spending, but we do not endeavour to save and invest. This leads to the migration of wealth from a nation and if we want to survive the death of the dollar, we have to build a goal towards financial independence and move towards no loan or no credit card mentality, if we can achieve that then we have a great chance of surviving this economical catastrophe. Well, how this will affect common people like you and me? The idea is very simple – the prices of our necessary things will go up, cost-of living will increase and quality of the food and drugs will diminish. The unemployment is a bigger issue and if this sustains, the stature of jobless people will have a horrendous mark. It will exceed than The Great Depression period.  The healthcare will be costly and out of the reach of common people, as people would not have the money to pay their staff and they have to drop many one. The home rent will be as high as the land owners will try to cover their losses that they met in other sectors. In short, when people would not have the money to pay the rent, lesser homes will be accessible. The summary is dollar will be same but its value would be, decreased and rates of every utility like roof on head, clothing, feeding and drinking would be exorbitant.

Hence, is there any way to survive that or not? If every key has its own lock, this situation has a solution as well. The preparedness of some disaster is, known as “prepping” – so to prep this economic disaster you have to construct some revolutionary changes in your lifestyle.

                              It requires very less things and very less cost of money to exhaust. You have to know what your basic monthly expenses are as how much you spend on water, food, medical care, necessary hygiene supplies, shelter (including lights, transport and sanitation) and other miscellaneous things. If you examine all of them properly and start to think, above of all of that is a thing of luxury for you. You do not need to but iPhone every month and you do not need a Porsche, they are worthless for you. You need to invest some amount in some division that is going to offer you surety in the tough time.

If you can put aside several hundreds of dollar every month, believe me! You are doing a great help to the nation. You need to know the art of saving and by the help of learning this art you can endure an economic blunder. When you are buying a house try to locate it in a small town rather than selecting an apartment in a big town. If you have an old vehicle, get a new one by removing that from your garage as older vehicle costs so much every year for service and maintenance, so save the money! The big problem we contain is that we rely so much on credit card rather than actual money, stop it, as it is a lending system and you have to pay interest on every penny you spend. You have to stop eating outside and rather than cook at your place for your family, it will save massive capital. If people start focusing on the habit of saving money and investing, we can survive the economic disaster anytime. 

MR. JAITELY YOU MUST PASS THIS BILL, GST!!!

Let’s talk about my favorite topic-economics. Economy is the prime reason of giving employment to the citizen of a nation in the modern era. If a nation has a ruined economy, believe me! The world is not going to invest in that nation. To improve economy Government should impose good tax system in the nation. In the financial budget of India, Finance Minister Arun Jaitley proposed that GST will be applicable from 1 April, 2016. Analysts believe that the execution of the goods and services tax (GST) could offer the rate of increase of productivity. GST will increase the GDP of India & will counter the tax terrorism of the nation. Today I am going to explain the various benefits of GST for the Indian economy and how it will help the common man. The benefits of GST are:-

1) FUSED MARKET- The GST will cut down the various numbers on taxes obligated by the central government, i.e. Central VAT or excise duty, services tax, central sales tax on interstate sales, etc. And states, i.e. entertainment tax, VAT on sales, luxury tax and octroi. This will result in the creation of a combined or unified market, which would ease the endless movement of goods across states and decrease the transaction revenue of businesses.

2) LOWER ENCOURAGEMENT FOR TAX EVASION: In present scenario, companies have to pay taxes on complete original value of the product/service, but under GST, companies will have to pay tax only on the value-addition (means cost of a product will decrease for consumer). Therefore, the actual tax paid will likely be small and decrease the incentive for evasion.

3) WIDEN THE TAX BASE: GST will provide credits for all taxes paid prior in the goods/service chain incentivizing taxpaying companies to spring inputs from other known or recognized dealers. This will carry in extra revenues to the government as the unorganized sector, which is not part of the value chain, would be drawn into the tax net. Moreover, states will be provided for tax services (as opposed to only the central government) under the GST.

4)  DECREASE IN THE COST OF PRODUCT/SERVICE: The biggest beneficiary of GST will be the common man of this nation. The common man is tired of the high cost imposed on everything. A biscuit packet whose weight is 100gms costs 10-15 INR (based on company) will cost 8-12 INR, it will help to control inflation for the common man. Fuel prices will decrease as Govt. would not impose tax on taxes.

According to the National Council of Applied Economic Research, government's tax income will augment by about 0.2 per cent because of GST execution, while GDP growth could increase by 0.9-1.7 per cent. Exports will also get a enhance as they are zero-rated for taxes and also as the fall in cost of produced goods and services under GST will increase the competitiveness of Indian goods and services in the foreign market.

However, the rate will be decided by centre & state on the services which may vary from 16%-27% on the original cost.

THINK- Cost of a biscuit packet is 10 Rs. after all taxes, its original cost is 6 Rs. Now if GST applied on this & we delete the rest of the taxes its cost would not go above 8 Rs. That’s how GST will benefit the common man and it will be a huge game changer. Now it’s on our parliament to pass it & then impose it from 1 April, 2016. I hope this will solve a number of problems related to our nation.

Thanks for Reading!