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?
I think we all realize that there is certainly an ebb and flow to the economy. There are times of great economic growth, times of relative stability and then times when the economy draws back and we find ourselves in a recession, or perhaps even a depression.
We do not have to be frightened by this economic recession. There is so much hype in the media that sometimes it puts people in panic mode. It would be a good idea to get a little education on the causes of recessions and how to cope with them. I highly recommend a book by William Bonner entitled "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". Perhaps you can find a copy at your local library. Most libraries will order a book if it is not yet part of their inventory.
One obvious thing we should do is curtail our spending, and even though we might find it hard to do, we should attempt to save money for the times ahead that might even be more difficult that now. We should only be spending our money on necessities. Two that come to mind are food and gasoline for our vehicles. We still have to nourish ourselves and most of us need to drive our cars back and fore to work.
In the same vein, we would not want to take on any new debt during a recession, even if we think we can afford it. In these unpredicatable times, we cannot foresee if we will still be able to afford that shiny new car sitting out there in our driveway.
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.
McGraw-Hill Research did a study and found that companies that maintained or even increased their marketing during the 1981-82 recession actually saw a 275% average sales growth over the following five years. In comparison, those companies who cut their marketing, only saw a 19% minimal increase over the same 5 year period. Starting a home based business during a recession is a great idea. The experts say that this is actually the best time in 70 years to build a profitable business.
This is actually great news!
I am sure we realize that these fluctuations in the economy are inevitable, but they do not have to adversely affect us if we make smart decisions and take a few very specific actions. Internet Marketing is where millionaires are being created right now. People are doing this from the comfort of their own home. Did you know that Robert Kiyosaki and Donald Trump have both said that if this way of doing business had been available to them earlier on in their lives, they would have definitely made their millions networking over the Internet.
So my hope is that you will take this information to heart and move ahead by investigating the various ways you can very profitably survive this economic recession. I wish you all the success in the world. - 15790
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?
I think we all realize that there is certainly an ebb and flow to the economy. There are times of great economic growth, times of relative stability and then times when the economy draws back and we find ourselves in a recession, or perhaps even a depression.
We do not have to be frightened by this economic recession. There is so much hype in the media that sometimes it puts people in panic mode. It would be a good idea to get a little education on the causes of recessions and how to cope with them. I highly recommend a book by William Bonner entitled "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". Perhaps you can find a copy at your local library. Most libraries will order a book if it is not yet part of their inventory.
One obvious thing we should do is curtail our spending, and even though we might find it hard to do, we should attempt to save money for the times ahead that might even be more difficult that now. We should only be spending our money on necessities. Two that come to mind are food and gasoline for our vehicles. We still have to nourish ourselves and most of us need to drive our cars back and fore to work.
In the same vein, we would not want to take on any new debt during a recession, even if we think we can afford it. In these unpredicatable times, we cannot foresee if we will still be able to afford that shiny new car sitting out there in our driveway.
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.
McGraw-Hill Research did a study and found that companies that maintained or even increased their marketing during the 1981-82 recession actually saw a 275% average sales growth over the following five years. In comparison, those companies who cut their marketing, only saw a 19% minimal increase over the same 5 year period. Starting a home based business during a recession is a great idea. The experts say that this is actually the best time in 70 years to build a profitable business.
This is actually great news!
I am sure we realize that these fluctuations in the economy are inevitable, but they do not have to adversely affect us if we make smart decisions and take a few very specific actions. Internet Marketing is where millionaires are being created right now. People are doing this from the comfort of their own home. Did you know that Robert Kiyosaki and Donald Trump have both said that if this way of doing business had been available to them earlier on in their lives, they would have definitely made their millions networking over the Internet.
So my hope is that you will take this information to heart and move ahead by investigating the various ways you can very profitably survive this economic recession. I wish you all the success in the world. - 15790
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 currently working fulltime as a Business and Health Coach and an internet marketer. She lives on Vancouver Island with her husband, Gerry.