Can I Survive this Economic Recession
January 19th, 2009. Published under Network Marketing. No Comments.
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?
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.
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 fabulous 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.