Home Money What awaits you economically in 2018 and how to face it

What awaits you economically in 2018 and how to face it

Economically speaking this year paints with several factors and risks that must be taken into account and of which here we leave some.

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What awaits you economically in 2018 and how to face it
What awaits you economically in 2018 and how to face it

One of the main responsibilities of a businessman is the decision-making, and to take them right is essential information, the panoramic view. And not only for investors and businessmen, families, officials who design public policy or individually, among more tools, more opportunities.

Economically speaking 2018 paints with several factors and risks that will have to be taken into account and of which here I leave some.

Inflation

2017 closed with inflation above 6%, however 2018 will see the decline in the rate to a consolidated rate of around 4% per annum, remember that your investments should never have returns below this number as otherwise you will lose money.

For those who do not know, inflation is the general average increase in the prices of products and services we consume, but inflation is different for some and others according to our consumption patterns. If you want to know the inflation that you pay according to your consumption patterns, INEGI has an online tool that lets you know, in this way you can change your consumption patterns towards products and services that are not so affected by inflation. I leave the link of the personal inflation calculator https://goo.gl/9DS7do

Interest rates

The interest rates will remain without significant changes at least the first semester of the year and depending on the results of the elections could be adjusted. So if you are looking for returns not only save, if you have cash move it to medium risk investments always under the supervision of your trusted financial advisor.

Exchange rate

The exchange rate will be around 19 pesos per dollar almost all the year, with some peaks of up to 22 pesos per dollar depending on the results of the elections, the result of the renegotiation of the free trade agreement with the United States and Canada, and the results of the aggressive changes on US fiscal policy.

Debts

As always, the debts should only be considered to direct them to the investment, try to keep them moderate during the first half of the year and review your debt decisions after the elections and the results of the renegotiation of the free trade agreement.

Remember that if you already have a financial emergency and your debt already exceeds your ability to pay you can go to PROTEGE AC to receive financial-legal advice and get discounts of up to 80% on your bank debts.

Business competition and consumer behavior

Stay up to date on consumer trends, eliminate unnecessary expenses and your company rewards any idea that reduces costs. Take care of your customers, the competition will be stronger, improve the service, reduce complaints, increase the speed of your sales supported by new technologies and reduce the term of your sales on credit.

Trend of cryptocurrency

After the fall of Bitcoin at the end of 2017 and its eventual rebound, cryptocurrency will follow the same upward trend but in a volatile way, due to the intensive speculative use of these virtual currencies, if you want to know more about it you can read my article: Bitcoin, speculative bubble about to explode?

The 4th industrial revolution and Mexico

Over the next 4 years, approximately 7 million jobs will be lost around the world due to the automation of the processes that artificial intelligence will bring, so if you do not want to be financially obsolete, you will have to thoroughly check whether your company or your Individual or your profession will not be automated and disposable in the immediate future.

If you want to know more about the matter you can see the interview Anayanssi Moreno gave me about it: The robot that will take away your job. The fourth industrial revolution has arrived.

The motor industries of Mexico

Last November I was able to attend the summit of the 1000 most important companies in Mexico carried out in the CDMX, the companies that come together generate more than 70% of the Gross Domestic Product of Mexico, concentrate 62.1% of Fixed assets, and made more than 80% of exports, where several topics were addressed and where the business sector made it clear that the industries and trends that will be the engines of Mexico will be: The Energy sector, the Aerospace, Health Sector, Logistics and Transport, Innovation, Technological Disruption and how Mexico will take advantage of or face the 4th industrial revolution.

If you want to see a little more about how I was at the event you can watch my video here https://goo.gl/TBWPGS

How can you face all this?

Now, you will think that you are helpless before the great world or national economic movements, however there are 4 spheres that we must identify in order not to fall into economic defenselessness. The first is the world, where as individuals we have virtually no interference, the second sphere is your country, where it is your duty to inform you and participate in the processes of election of representatives and demand the fulfillment and respect of your economic rights. The third sphere is your community and your family, where you must be congruent with what you demand from others, be a good citizen and lead by example. And the last sphere, yourself, the sphere where you have the most control, where education, knowledge, training, action, discipline and your gifts are the only things that will take you out of a difficult economic situation.

Remember that without financial knowledge and continuous improvement, every year will seem complicated or bad, however in an economy like ours with so many challenges what is left over is people complaining, which translates into fertile ground for doing business, where some complain others find solutions to those complaints and charge for it, what from the untrained eye are complications when doing business and making a living, is for others the opposite, current technology allows us to do business in a fast and of low costs like never before and with a tendency to be more and more like this.

Without more, you have an excellent and exciting 2018 full of challenges and goals met.

My best wishes.

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