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.
The way I see it, there are only three possible outcomes. Things could stay the same for us and we would see little change, we could be adversely affected or we could even prosper. If you are like me, then this latter scenario is what we would like to see happen to us. The question is, how can we make that happen?
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.
I recommend that you do a little research and read some informative material regarding the historical causes of recessions. There are many great books out there but one that I can particularly recommend is by William Bonner. It is called "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". You might be able to find a copy at your local library. If they don't have a copy, in most cases the librarian will be happy to order one in.
It is important that we are very careful about the way we are spending our money during an economic recession. Obviously, we still have to eat and most of us have to drive our cars to and from work, so food and gas would be classified as necessities. We should also try to save some money, even if it is just a little, for the possibility of even tighter times ahead.
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.
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!
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.
It is my recommendation to you that you take this economic recession that we have found ourselves in and use it to your advantage. I wish you every success.
The way I see it, there are only three possible outcomes. Things could stay the same for us and we would see little change, we could be adversely affected or we could even prosper. If you are like me, then this latter scenario is what we would like to see happen to us. The question is, how can we make that happen?
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.
I recommend that you do a little research and read some informative material regarding the historical causes of recessions. There are many great books out there but one that I can particularly recommend is by William Bonner. It is called "Financial Reckoning Day: Surviving the Soft Depression of the 21st Century". You might be able to find a copy at your local library. If they don't have a copy, in most cases the librarian will be happy to order one in.
It is important that we are very careful about the way we are spending our money during an economic recession. Obviously, we still have to eat and most of us have to drive our cars to and from work, so food and gas would be classified as necessities. We should also try to save some money, even if it is just a little, for the possibility of even tighter times ahead.
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.
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!
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.
It is my recommendation to you that you take this economic recession that we have found ourselves in and use it to your advantage. I wish you every success.
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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