There is no doubt about the fact that an economic recession is upon us. The question we are all now asking ourselves is how best to get through this.
There are really only three outcomes. We could actually prosper during this time, we might not be affected at all, (or perhaps just a little) and finally, we could be financially devastated. Obviously, our wish is to prosper regardless of the economic conditions. So the question to ask ourselves, is how can we do that?
History shows us that the economy ebbs and flows. We experience times of high economic growth, then times of stability and finally, times such as these, when the economy takes a major downturn and we find ourselves in a recession. Occasionally, this then becomes a depression.
There are many books on the market that discuss the causes of recessions and how we can cope with them. There is one particular book that I highly recommend. It is by William Bonner and is called "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". Your local library would be happy to order in a copy if they don't already have one on their shelves. Doing some research can give you the confidence that you can survive and even thrive during times such as these.
There are a few common sense things that we can all do. Certainly we would want to minimize our spending and even though it might be difficult, we should attempt to save money for the possibility of even tighter times ahead. Now is not the time to buy anything other than necessities, such as food and gas. We still need to eat and to drive our vehicles to work.
Taking on any new debt would be a very unwise course of action. It is possible that we could afford that monthly payment for that new car, especially as the prices are rock bottom at present, but in such unpredicable times, we do not know what our financial situation might be in just a few short months.
Do a little brainstorming and think of ways to earn extra income. Do you have a few rooms in your basement that you could fix up and rent out? There is a huge demand for inexpensive accommodation right now with so many people losing their homes.
Another viable option is to start a home-based business. It has been reported that this is possibly the best time in 70 years to build a profitable business. A study done by McGraw-Hill Research found that those companies that maintained or increased their marketing throughout the 1981-82 recession saw an average sales growth over the next five years of 275%. Companies who cut their marketing saw a minimal increase of only 19% over the same five year period.
This is really great news!
Donald Trump and Robert Kiyosaki have both gone on record to praise home based businesses, particularly utilizing the Internet. The experts are saying that more millionaires are going to be made doing business this way than any other way at all. I don't know about you, but if that's the truth, then I for one want to learn as much as I can about this internet marketing way of doing business. If it's good enough for "The Donald", then I'm sure it's good enough for the rest of us!
The future can be very positive if we just take the proper actions. I wish you every success in your endeavours during this economic recession. We can all succeed! - 16463
There are really only three outcomes. We could actually prosper during this time, we might not be affected at all, (or perhaps just a little) and finally, we could be financially devastated. Obviously, our wish is to prosper regardless of the economic conditions. So the question to ask ourselves, is how can we do that?
History shows us that the economy ebbs and flows. We experience times of high economic growth, then times of stability and finally, times such as these, when the economy takes a major downturn and we find ourselves in a recession. Occasionally, this then becomes a depression.
There are many books on the market that discuss the causes of recessions and how we can cope with them. There is one particular book that I highly recommend. It is by William Bonner and is called "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". Your local library would be happy to order in a copy if they don't already have one on their shelves. Doing some research can give you the confidence that you can survive and even thrive during times such as these.
There are a few common sense things that we can all do. Certainly we would want to minimize our spending and even though it might be difficult, we should attempt to save money for the possibility of even tighter times ahead. Now is not the time to buy anything other than necessities, such as food and gas. We still need to eat and to drive our vehicles to work.
Taking on any new debt would be a very unwise course of action. It is possible that we could afford that monthly payment for that new car, especially as the prices are rock bottom at present, but in such unpredicable times, we do not know what our financial situation might be in just a few short months.
Do a little brainstorming and think of ways to earn extra income. Do you have a few rooms in your basement that you could fix up and rent out? There is a huge demand for inexpensive accommodation right now with so many people losing their homes.
Another viable option is to start a home-based business. It has been reported that this is possibly the best time in 70 years to build a profitable business. A study done by McGraw-Hill Research found that those companies that maintained or increased their marketing throughout the 1981-82 recession saw an average sales growth over the next five years of 275%. Companies who cut their marketing saw a minimal increase of only 19% over the same five year period.
This is really great news!
Donald Trump and Robert Kiyosaki have both gone on record to praise home based businesses, particularly utilizing the Internet. The experts are saying that more millionaires are going to be made doing business this way than any other way at all. I don't know about you, but if that's the truth, then I for one want to learn as much as I can about this internet marketing way of doing business. If it's good enough for "The Donald", then I'm sure it's good enough for the rest of us!
The future can be very positive if we just take the proper actions. I wish you every success in your endeavours during this economic recession. We can all succeed! - 16463
About the Author:
Jan Shimano was District Manager for Health & Welfare Canada for many years. She has also successfully represented clients at their Tribunal Hearings with the WSIB. She has had many years experience as a Nutritional Consultant and a Master Herbalist and is presently working fulltime as a Business and Health Coach and an internet marketer. She lives on Vancouver Island with her husband, Gerry.
