Am back again, after so long. Don't know why though I abandoned my blog. Probably lots to do and less time to do it in.
Anyway, the economy worldwide is in recession (i bet you're like "DUH, Pea Brain") but I just wanted to start off with something to think about. Now that it is the period of 'recession', how does it affect people and how does people deal with it?
Now that's something to think about. Worldwide people are losing jobs. This has affected a lot of families and many people are finding it hard to make ends meet. However, some are affected more than others.
Come to think of it, the only other industry that will thrive in this recession would be the education industry and the student accommodation industry. Why? because people who unfortunately lose their jobs go back to study and further enhance their skills and overseas students needs accommodation when they travel overseas to study.
I guess now is the time to open up the 'money put aside for rainy days' just for the time being while things stabilize. So here's the question, how much have you put aside for situations like this? Governments are trying to encourage its people to spend while people are trying to save as much as possible. Kind of a conflict of interest here isn't it?
Well, if you have not kept much for times like this, no one is here to lecture you on how you should have saved or what you should have done with your money while the going was good. Rather, take this as a learning opportunity, sit back and think about how you are going to get through this and how you will prepare in case of another form of emergency.
Question is, how much of this 'recession' is really affecting you. Are you spending less on when you go out shopping? are you cutting down your trips to the beauty salon? are you spending less or during this period of time?
Shops are selling goods at cheaper prices as they need sales and stock to keep moving. Are you taking advantage of this by stocking up for things? Can you afford to?
Is it a better idea to shop now on credit while goods are cheaper and pay it back when the economy recovers or is it better to save now and buy later when you have more purchasing power?
Now that is food for thought. The choice is yours.
