There is no question about the fact that we are deep into an economic recession. Many of us are asking how we are going to get through this unscathed.
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?
If we look back in time, we will see that the economy is constantly fluctuating. Right now we find ourselves in a recession, but it wasn't too long ago that we were riding high and there was immense economic growth. We have also experienced periods of time where the economy was fairly stable.
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.
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.
Right now the cost of vehicles has come right down. The automakers are really hurting and are offering some great deals. It would not be wise to be sucked in. Maybe we can afford that shiny, new car this month but what if we lose our job in a few months time -- what is going to happen to our ability to pay our car loan then?
So many people are having to walk away from their homes right now because they can't afford their mortgage payments. They are looking for cheaper accommodation. Do you perhaps have a few rooms in your home that you could rent out? This would be a good source of extra income.
There is a wonderful opportunity during an economic recession to start your own home based business. You might think that is a crazy idea but let me tell you about a study that McGraw-Hill Research did. They found that those companies who maintained or even increased their marketing during the recession in 1981-82 saw a huge increase in sales growth to the tune of 275%. Can you imagine! So how do you think companies made out that didn't do that? Well, those companies who cut their marketing saw an increase of only 19% during the same five year period. Folks, this is the best time in 70 years to start that home based business.
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!
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.
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?
If we look back in time, we will see that the economy is constantly fluctuating. Right now we find ourselves in a recession, but it wasn't too long ago that we were riding high and there was immense economic growth. We have also experienced periods of time where the economy was fairly stable.
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.
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.
Right now the cost of vehicles has come right down. The automakers are really hurting and are offering some great deals. It would not be wise to be sucked in. Maybe we can afford that shiny, new car this month but what if we lose our job in a few months time -- what is going to happen to our ability to pay our car loan then?
So many people are having to walk away from their homes right now because they can't afford their mortgage payments. They are looking for cheaper accommodation. Do you perhaps have a few rooms in your home that you could rent out? This would be a good source of extra income.
There is a wonderful opportunity during an economic recession to start your own home based business. You might think that is a crazy idea but let me tell you about a study that McGraw-Hill Research did. They found that those companies who maintained or even increased their marketing during the recession in 1981-82 saw a huge increase in sales growth to the tune of 275%. Can you imagine! So how do you think companies made out that didn't do that? Well, those companies who cut their marketing saw an increase of only 19% during the same five year period. Folks, this is the best time in 70 years to start that home based business.
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!
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.
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.
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