From Kim Iskyan, Editor, True Wealth Asia:
Each economic or financial crisis (kind of like Tolstoy’s unhappy families*) is terrible in its own way. But there are common sense ways to prepare for what might happen – even if, no matter what, you’re caught by surprise.
Sleeping in a padded bunker surrounded by Spam and DVDs of Frank Sinatra movies in anticipation of Armageddon is no way to live. So a few easy things you can do – now – to prepare yourself for the next crisis might be better.
1.Have a stash of (local) cash.
No matter what – unless things turn really ugly – cash will get you what you need if your debit or credit cards don’t work. But if your cash is in a bank that’s gone bust, or if the ATMs stop working, money in the bank won’t do you any good. Keep enough cash