In light of the economic crisis in which most countries are immersed, it is necessary to give some advice to people and companies:

ADVICE TO FAMILIES

1. Families should not assume more debts other than those which are strictly necessary and can be paid easily.
2. If you have some savings, you should make a short term deposit with a guaranteed interest rate.
3. We should learn to buy just the things that are absolutely necessary, and not be influenced by advertising campaigns.
4. We should only change our car when its cost is well paid off.
5. Credit cards should only be used for emergencies.
6. Planned shopping. A good planning of your shopping always helps. A good idea is to make a shopping list before going to the supermarket, or in general, it is important to know what you want to buy before going shopping, so you will not make any superfluous purchases.
7. Comparing price and quality. Before shopping, especially when you are buying an expensive product (kitchen appliances, audio &video devices, computers, etc.), you should look for the best quality at the best price.
8. Efficient products. When saving, you should keep in mind that not everything gives short-term benefits, but many products are more efficient in the long-term. This lower expense is shown mainly when purchasing more efficient cars or appliances that consume less energy. In this case, savings could reach 7,000 Euros over six years.
9. Electricity saving tips. It is a good idea to use energy efficient light bulbs instead of ordinary light bulbs, as efficient light bulbs use less energy and last longer. Also, you could avoid leaving your television and other appliances in standby mode, as the energy used by the TV in this setting may reach hundreds of Euros in one year.
10. Make proper use of your kitchen appliances, such as dishwashers and washing machines, by sing them at full capacity.
11. The washing cycle selected on a washing machine should have the lowest water temperature required for the items being washed. Use a cold rinse for your clothes. Detergents should be used appropriately, depending on the hardness of the water.
12. Don't let frost build up in the freezer compartment as this increases energy consumption.
13. You can save up to 50% of energy by using pressure cookers.
14. Microwaves use 70% less energy than electric ovens.
15. Take a shower rather than a bath.
16. Turn the faucet off while you are lathering your body and while brushing your teeth or shaving.

ADVICE TO COMPANIES

17. Companies should forget about some products or even the entire business is cyclical: When customers decrease their expenses they usually change one product for another. For instance, in a recession, people might decrease the number of expensive dinners that they take out, but buy more cheap food instead. For that reason, businessmen need to avoid thinking that all demands fall during a recession period.
18. Companies should maintain or increase their revenues and control their expenses. They should avoid expenses that are not generating a return on investment. Unfortunately, in this regard one of the first things to be eliminated is marketing. This is a big mistake. In order to increase sales, you have two options: to gain new customers or to increase the purchases of current customers.
19. Flexibility. It is essential that the company be adaptable to change. Therefore, companies should carefully analyze all the company processes to see if they are adding value to the organization. If not, these processes should be eliminated.
20. Creativity. Companies should look for creative solutions to problems. You should not renounce anything that might be necessary for your business. Do it in a different manner. For example, in order to obtain certain services, you can barter with other companies.
21. In these times, it is essential to keep learning from everything around us and to invest resolutely in the ability to analyze, plan, execute and control in a more efficient manner.
22. It is important to know that crisis periods are also periods of great opportunities.

Remember what Einstein said: "In a crisis, imagination is more important than knowledge".