Tips To Survive The Dip #1: Stay Away From Debt.steemCreated with Sketch.

in #cryptncurrency5 years ago

Debt, Loan, Borrowing - whatever it is call, stay away from them for now.

Today @ned made an announcement on the current situation at Steem Inc and talked about having to lay off a couple of workers to cut down on the cost operating Steemit Inc.

It's time for us ourselves to work on cutting down on a lot of cost consuming activities to be able to survive the dip especially for those who are totally into cryptos.

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Stay away from debt as much as possible. None of us know how deep and how long this dip will go. You will have a lot of temptation to buy things on Credit with the hope that cryptos will increase a bit in value for you to sell a few and sort out debts. My advice would be only consume what is absolutely necessary and stay as much as possible from debt.

Things will be better, I am a believer in cryptocurrency but I won't engage myself in debts and activities that will only result in making me worry a lot more in the next few days.

Things will get better, the market will turn green and the bull will run again but till then, stay on the low.

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Correct. The people that best survive economic down turns are those that cut expenses quickly and avoid debt. They conserve resources to take advantage of new opportunities.

Thanks for your input. I believe many will be able to survive the hard times he they listen to this.

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