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There are no ands, ifs or buts about it. We are definitely experiencing an economic recession. What we have to ask ourselves, is how are we going to cope.
Basically, there are three possible outcomes. We could fall apart, we could perhaps not be overly affected or we could actually prosper. If you are like me, you are hoping for the latter. Yes, we all want to prosper regardless of the times we are living in. The big question is, how can we do it when all we see around us is doom and gloom?
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.
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.
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.
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!
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.
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.
Basically, there are three possible outcomes. We could fall apart, we could perhaps not be overly affected or we could actually prosper. If you are like me, you are hoping for the latter. Yes, we all want to prosper regardless of the times we are living in. The big question is, how can we do it when all we see around us is doom and gloom?
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.
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.
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.
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!
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.
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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