Saturday, September 5, 2009

Ideas For Surviving The Recession

By Dick Johnson

Everyone and everything is hurting. The job market and economy are hurting. Investors in the stock market are hurting. We all know someone who has lost their job and maybe even their retirement in this market. Do not lose hope. Instead, trying changing your way of thinking. Instead of focusing on the problem, focus on the solution. If you are creative enough, you can come up with additional ways to make money.

You can sit on your hands like most people and complain your life away or eat barbeque beans and complain about not having money for pizza. This is the victim mindset and is not very helpful. You can complain and do nothing, or you can take action to discover new ways to make money.

Try not to think with a victim mindset. If you want to get through this as quickly as possible, you must develop a solution mindset.

Let us take a look at how most Americans see the standard "making money" plan: Graduate from High School and complete College at all costs Get a solid job and turn it into a career Let the company take care of retirement, health insurance, for you and your family If things go bad, you can get on unemployment Find a new job

You are probably a career minded individual and want to stay at the company you work for, for many years. But then comes a recession and the company you work for has to lay you off. It seems the company was not on board with your "stay for many years" game plan.

Your company is now adapting to the economy, that is precisely what you should do, but do not adapt by getting on unemployment then taking any old job and ultimately settling for less in life.

What you want to do is to create multiple streams of income. The most successful households are the ones that have multiple streams of income coming in. For example, one stream of income might be from the stock market, another might be from your day job, and still another from your home business. If one of your income streams dry up, you still have two other that you can rely on.

Today, you can apply this concept to any level that you would like, the main concept is, do not rely strictly on one income from one job. Maybe as a family, everyone could work together at different jobs, thinking of themselves as a diversified company. So in the evenings and other spare time, rather than watching cable, the company could develop different divisions that would be responsible for income.

These are some possible sources of income: Yard work for neighbors Babysitting, animal sitting Trash hauling Educational service Blogging Article writing Publishing a book Taking pictures

Take a moment to think about what you are good at, I know the ideas will start to flow.

If you can spend a little less, create new income streams to bring in a bit more money, and put on a problem solving attitude, you will be a source of inspiration for family members and friends in this recession.

About the Author:

No comments:

Post a Comment