Once upon a time, not too long ago though, we had another set of beliefs and principles which we used to guide and motivate us. The recent economic meltdown has changed the rules of the game for all of us. The principles and values of old have given way to new thoughts and behavior. Along with the new economic conditions we too are forced to change our habits and behavior in order to keep up with the times.  While technology is continuously developing ways to save us time, we use that time to do more and more things, and so our lives are more fast-paced and hectic than ever.

All is not the same as before

Once upon a time, things were easy going for everyone, be it any facet of life. A child went to school, got educated; joined a college, got a degree, got a job, became rich in the process and led a contented life thereafter. Many people today still believe in the same principles which were followed almost a decade ago. But life then was much simpler and easier as compared to today’s ever-changing times. Today, it is a different world, a different time.

Investors avoid investing

 One must understand that today the world has become very competitive. Those who will not change with it will be left far behind in the race.

Once upon a time it was normal for a person to buy property and sell it off in due course of time once its value increased manyfold. He invested in the stock market and got huge returns when the market saw profit.

But now, it is a different story. With the markets crashing repeatedly investment has suffered and investors avoid investing. With prices of commodities getting inversely proportional to salaries, the purchasing power of people has weakened.

Economy in doldrums

 Once upon a time jobs were available without putting in that much effort. Now, with the economy itself in doldrums, one cannot think of a high-paying job to sustain oneself for a lifetime. Now the future of companies is also uncertain, leave alone that of their employees. People get thrown out of their jobs. Their future becomes uncertain. Many goods and services are not within their reach.

In today’s world, preparation is the key. Proper plans need to be chalked out and one must keep on working towards achieving a set target.

Goal-setting and achievement plans

 People have a general perception that the job they are in will pay them well and set them up for life. All their needs will be well taken care of – insurance, retirement etc. But with tough competition, even companies are at a risk of running into losses and shutting down eventually. What should one do in such a situation? One must not procrastinate in his goal-setting and achievement plans. Immediate action is the keyword. Lazing around will not bear fruits; working on the goals without delaying it will.

Old school facts becoming fiction

 Once upon a time the popular saying that ‘with age comes wisdom’ has been proved outdated today. Today those in their twenties are becoming billionaires, discarding the need for the wisdom of age. Hence a lot of old school facts have now become fiction.

Predictions of a financial meltdown

 People said the world would come to an end in 2012. It was hyped beyond logical thinking. Even predictions of a financial meltdown were made. But what might just come true is the latter. The world has begun to face a downslide in terms of economy and very soon there will be a crisis-like situation where earning money and spending it on basic needs would become a far-fetched dream. And to keep going, despite all these dark times, one needs to change his outlook and work in that direction. Agreed, money will not start flowing in immediately, but atleast savings will continue to keep him going.

With a changed perception, persistent efforts, proper planning and preparation, if one starts to work for a better future, where managing his own finances and making best use of it will not be a problem, he will be able to go a long way in saving a lot of money. Else, he is likely to drown in the impending meltdown!

We have to think of new ways to adapt and live in this new world.