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?
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.
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.
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.
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.
There are numerous way to earn a little extra income. One idea that comes to mind is renting out those few extra rooms in your basement or home. With so many people losing their homes, there would be no trouble at all getting those rooms rented out.
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 fabulous news!
Fluctuations in the economy are part of life but they do not have to affect us adversely if we are smart and just take a few specific actions. One of the fastest and most successful ways to build a business is through Internet Marketing working from the comfort of your own home. This way of doing business comes highly recommended by Donald Trump and Robert T. Kiyosaki who have both written about the fact that more millionaires are going to be created through network marketing during the next number of years, than from any other form of business.
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!
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.
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.
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.
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.
There are numerous way to earn a little extra income. One idea that comes to mind is renting out those few extra rooms in your basement or home. With so many people losing their homes, there would be no trouble at all getting those rooms rented out.
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 fabulous news!
Fluctuations in the economy are part of life but they do not have to affect us adversely if we are smart and just take a few specific actions. One of the fastest and most successful ways to build a business is through Internet Marketing working from the comfort of your own home. This way of doing business comes highly recommended by Donald Trump and Robert T. Kiyosaki who have both written about the fact that more millionaires are going to be created through network marketing during the next number of years, than from any other form of business.
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!
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 in British Columbia with her husband, Gerry.
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