How to Weather the Storm of the Economic Collapse

As you may well know, we are currently still in the worst economic situation since the Great Depression. What exactly does this mean and how can you survive until the economy gets back on its feet?

The first thing to do is stay current on what’s happening with the economy. You need to have a basic understanding of it all and keep up with the changes that are happening as well. Without this information, you may make decisions that could be detrimental to your financial future.

It’s far too easy to panic and make rash decisions when the future is uncertain and frightening, so don’t dwell on the latest news, just keep yourself in the loop.

Here are a few things to remember that can help you survive the economic collapse:

1.      Markets. If you own stock invested in a long-term investment, leave it there. The markets will fluctuate up and down, and sometimes it will happen sharply. But over time, the market will recover; it’s a normal ebb and flow.

• If you’re concerned about your investments, ask a professional for their advice. Don’t pull it too soon in a knee-jerk reaction from a steep drop. This is the nature of the stock market and you should be prepared for this type of thing happening.

2.      Diversify. Simply put, don’t place all your eggs in one basket. If all your investments are in one place, spread them out. Look into CD’s, money markets and bonds. These types of investments are slow and steady and the principal is protected.

3.      Spend Less. This is pretty straightforward, but it’s an important reminder. If you went out to dinner 3 times a week before the economy dipped, try 2 times a month now. Put simply: if you don’t need to spend money on something, don’t. The money you save can help pay your bills.

• In this economy, survival requires sacrifice. You’ll have to cook at home more or maybe rent a movie instead of going to the theater. It could be worse, so make due with what you have!

4.      Spend Wisely. Where do you normally shop? If you answer high priced specialty stores, you may need to change your habits.

• Start heading to discount supermarkets and dollar stores. Believe it or not, dollar stores sell cleaning supplies for $1, as opposed to four or five dollars for the same thing in another store.
• Skip the Starbucks stop on your way to work and bring your morning coffee from home instead.

These times are tough. Unemployment is on the rise, jobs are harder to find, and businesses are closing down faster than ever before. Still, this is not something to fear. These things happen. It’s all part of a cycle and the economy will bounce back.

In the meantime, get creative and find new ways to make some extra money and save on expenses:

• Search through your garage, attic and basement for things you own that you don’t need anymore and sell them online.
• Look into home based Internet businesses and ways to generate passive income. Affiliate marketing is great for this. There are places all over the Internet with these types of programs.
• The worst thing you can do in this economy is ignore the fact that there’s a problem or think it won’t affect you. Consider everything expense you have and devise ways you can get it for less. You can make this recessionary economy work to your benefit by negotiating cheaper rates.

You may have to look a little harder for opportunities, but they’re still there. Take the skills you have, along with your passion, and find ways to generate some passive income from them. When you do these things, you’ll be able to weather the storm and come out ahead!

5 Things You Need to Know About Debt

I’m focusing on making life changes around the subjects of money and health. These are two of my most popular subjects from the traffic I’ve seen lately.

These days everyone is looking for ways to reduce debt and save money. It is possible to wipe out your existing debt and learn how to live your life within your means.

Here are five tips that will help you on your way to debt free living:

1. Stop using credit cards. One of the leading factors in the current economic crisis is people buying things on credit they cannot afford. The next thing they know, they find themselves unable to do anything more than make minimum monthly payments.

• Minimum payments will keep you in debt because every month interest continues to accrue on your original balance. A $1,000 balance on a typical credit card can take 22 years to pay off if you make only the minimum monthly payments!
• Don’t fall into the trap of credit card debt. Instead, avoid the hassle and expense by paying cash for the things you buy. If you want a big-ticket item, save the cash before you make the purchase. Only buy when you can afford to pay for the item in full before you bring it home.

2. Buy luxury items with cash. We all have extras and luxuries we want, but using credit to get them is a dangerous path to take. You’ll get much greater enjoyment from the extras in your life when you pay cash, rather than ongoing monthly payments.

• Nothing takes the excitement out of a new toy or nice vacation more than the large payments that strain your budget month after month.

3. Create a realistic budget that includes debt repayment. The first step in gaining control over your debt is creating a workable budget. Rather than stifling you, a budget can bring you freedom! You’ll know where your money goes and you’ll set a spending plan so you can continue buying the most important things in your life.

• Your budget should take into consideration all facets of your lifestyle, including housing, food and household items, utilities, savings, recreation and debt repayment.
• If your budget doesn’t include room for debt repayment, there will never be enough money to pay off your debt. Take control of your financial reality by working with a realistic budget every month. Before long, you’ll see your debt diminishing while your savings grow.

4. Seek the help of a professional credit counselor, accountant or financial planner. The best way to be sure you’re making sound financial decisions is to seek out the help of a financial professional.

• Credit counselors, financial planners and accountants are experts in the areas of savings, debt repayment, investments and tax deductions. Implement each of these areas into your finances to eliminate financial strain and secure a stable financial future.

5. Negotiate better rates with the banks or credit card companies. Many people assume they have no choice but to accept the interest and finance rates offered by their banks and credit card companies, but that isn’t always the case!

• Talk to the people at your financial institutions. You may be surprised at how willing they are to budge.
• If your credit is in good shape or you’ve made steady, progressive strides to improve it, you may be able to get lower interest rates on your debts.
• You might also receive higher interest rates on your savings, giving you a double shot at eliminating your debt entirely and moving forward with your finances in a positive direction.

You can repair your debt problems and learn to avoid creating them in the future. These five steps will point you in the right direction and get you started on a new path to financial freedom and prosperity!

Five Ways to Make More Money Now

No matter what you do for a living, there’s always an incentive to make more money. Maybe you’re trying to pay off credit card bills, save up for something special, or have a little cushion should something unexpected happen in your life.

It used to be that if you needed to make a bit of extra cash, you needed to pick up a second job, like busing tables a few weekends a month or showing up early at the bakery to help with the ovens.

Now, thanks to the doors opened by the internet, and the ease of starting your own business, it’s gotten easier than ever to bring in some extra money without working yourself to death in the process.

Here are five ways you can make some extra cash in a pinch:

1.      Sell your unused items. Do you have books you’ll never read again collecting dust on your bookshelf? Is your closet full of outgrown or embarrassing clothes? Are your old computers taking up too much space? Sell them!

• Have a yard sale.
• Sell your things to specialty shops like second hand clothing shops, used bookstores, used furniture stores, or even repair shops that need parts from what you have.
• Use eBay or Amazon. I would recommend Amazon over eBay for certain items like books and CD’s.   Lots of things without local markets have a national or global market, and there are people who’ll buy the oddest things on eBay.

In particular, if you’ve got some sort of fairly obscure electronic hardware, try selling it on eBay first. Chances are someone wants it and is willing to pay a premium for it.

2.      Ask for a raise at your current job. There’s no doubt that asking for more money is difficult, especially during a recession, but that doesn’t mean it’s impossible. Most people are too scared to ask for a raise, so you can use this to your advantage.

• Assemble a list of the things you’ve accomplished at your work in the last nine months and make your case.
• Another way you may be able to make more cash at your job is to ask your boss if there’s extra work you can do to gain more hours or get paid more for increased responsibilities.

3.      Trade skills for cash. Are you a skilled seamstress, writer, or graphic designer? There are countless websites where you can use your expertise to earn extra money.

• If you’re not sure how to get started, take a few minutes to do an Internet search. Resources abound on the ‘net that can help you find buyers for your skills.

4.      Get a work from home job. There are lots of telephone based customer service jobs that you can do with just a computer and an Internet connection. Some of them pay remarkably well and all of them have relaxed dress codes to boot!

5.      Start your own part-time business. Transform one of your hobbies or skills into a second business. There’s nothing quite as exhilarating as turning your love for something into a business and making it profitable.

Many of these money-making ideas will work fairly quickly with little effort. You can take it one step further and significantly boost your income by creating a business you can run from the comfort of home. Take action and you can make more money!

How to Save Money During a Recession

Whether you want to admit it or not, there’s a global recession happening, and it’s affecting millions of families. People are being laid off, companies are going under, and even some state governments are completely broke.

Finding ways to cut back on your spending can help you during this difficult economic period. Saving money is always good, but it’s a skill that becomes especially important during a recession.

How can you save money during a recession? It’s all about planning, cutting frivolous costs, and changing the way you spend money.

Here are some handy tips you can use to help you save money:

1.      Pay important bills first. The mortgage, electricity, water and heat have to be paid no matter what.

2.      Save Money on groceries. Groceries are a huge, yet necessary, expense. After the bills are paid, most of the budget will fall into the groceries category.

• Buy generic rather than name brands. They usually taste just as good but cost less.

• Buy non-perishable foods in bulk. Many items can be bought in bulk such as rice, canned foods, and frozen foods.

• Never shop on an empty stomach. Eat before grocery shopping; otherwise, you’ll wind up buying more junk and convenience foods because you’re hungry.

• Make a list of what you need and stick to it. It really is that simple!

• Cut and use coupons. 10 for $10 deals and sale items are your friends. Combining coupons with sales can slash your grocery bill even more.

• Avoid shopping at expensive stores, even if they’re closer to home. Instead, go a few miles out of the way for the discount grocery stores. Most items in the store are exactly the same thing, other than the price tag.

3.      Rent movies instead of going out. Have a movie night once a week. Sit down with some popcorn (the kind you pop on the stove) and watch a movie. This is a great way to spend quality family time, without much expense.

4.      Put the credit card down. Credit purchases may get your “stuff” now, but you’ll pay double for it later. If you want something, save up and pay cash or wait.

5.      Cook at home. If you go out to eat two or three times a week, cut back to once every two weeks or once a month. Instead, learn to cook at home. If you plan ahead and cook in quantities, you’ll save time and money by popping the extra portions into the freezer.

6.      Unplug. If there are things in your house plugged into the wall and you aren’t using them, unplug them. Many items, like computers and phone chargers, draw electricity whether they’re on or not. Plug it in when you need it, then unplug it when you’re done.

7.      Lower your thermostat. Set your thermostat at a specific temperature and leave it there. 68 to 70 is an energy-saving setting in the winter. If you get chilly, put on a sweater or grab a blanket. You’ll save more than you realize on your heating bills.

These are just some of the many ways to save money and stretch your dollar a bit further during these challenging times. These tips require a change to your habits, which can take some getting used to. In time, however, you’ll adjust and the money you save can make a big difference in your budget.

It’s important to stick with your plan to save money. Making a change for a week won’t do the trick. Committing to changing bad habits for good will reap the greatest benefits in the long run.

AH HA! Links of the week

Here are some interesting links for you. From how BP is still going to screw us, to publishing on your own, finding time, finding energy, money and friend philosophies.

Enjoy.

“Corporations aren’t people. They have no brains, no consciences, no capacity for intent or guilt. “

“I’m going to make over $100,000 this year, and a lot of the money is from the books that New York publishers rejected.”

“Turn off Twitter, Anne Lamott says. And don’t clean the house. That’s what it takes to create the rich life you deserve”

A Simple Life Change That Will Help You Live Longer And Happier

Why Money Makes You Unhappy

Want to Live Longer? Get Some Friends

Aching To Smack The Minimalists Around

I do support the minimalist blogs out there and their nomad and environmentally friendly lifestyles, don’t get me wrong.  I appreciate reading about how they avoid those yucky cars, sit in cafes blogging about hip memories, and stick their well traveled tongues out at whoever isn’t “master” of their lives. Ya well it isn’t all leprechauns and rainbows boys and girls.

You see…we can’t all chuck everything and go globetrotting at a moment’s notice.  Some of us have serious family commitments, a fascinating career (that may actually help make the world a better place)…and pets…and …oh ya… children.

And some of us really do like ascetically pleasing material goods. Is it bad to treat ourselves? Hey, if I’m going to sit in traffic for part of the day I WANT to be surrounded by soft leather and a Bose sound system.

Yeppers,  I have a 40 foot in ground pool with funky rock gardens surrounding it. After work, I plunge into that cool revitalizing water and skim under the surface in total silence.  Love it. Jagged beams of sunlight greet me to create a golden mirror effect throughout the baby blue water. It’s a fucking alternate universe. Love it.

Am I being authentic about my life? Hell ya. Do I always believe in it? Hell no. But I’m providing a beautiful haven for my family, my pets and myself (for now).

I’ll get to climbing Mount Pica Chu perhaps in a few years. And thank you for teaching me about the horrors of bottled water.  But for now I’m going to take my time to cook a delicious meal, crack open a fine red Syrah and be grateful for all that life has bestowed me.  You are all welcome to join me.

Cheers!

Now WTF am I going to do during winter?

Related posts:

Stop Complaining, Whining Or Making lame Excuses And Start Living

5 Reasons Why The Grass May Not Be Greener

Every day I hear someone daydream about changing jobs or companies. It’s incredibly easy to dream. I’ve made three major career changes and changed companies five times. Here are the top 5 lessons I learnt.

Money isn’t everything (but it can help). If you accept a job that earns you ten or twenty thousand dollars more a year, but adds another hour or two of a lonely and miserable commute, are you really ahead? Has your quality of life improved? Those dreadful and polluted hours sucking on someone’s tailpipe are never regained. You can’t call on the traffic fairy and magically have time turned back. Those hours are lost forever. Being stuck in traffic is the biggest stressors in people’s lives. Is your time more important than money?

Be prepared to have a boss that you may loathe. Sure it may be great fun to have your dream job, but when your new boss goes on to bigger and better things, you may be stuck with the company clown as your glorious leader. Now your wonderful new job is a horrific nightmare as each hour your new boss finds fresh ways to torture you. Not so much of a dream anymore huh?

Ready to give up the perks that come with company seniority? I lost three wonderful weeks of vacation time changing companies once. Are you willing to lose your vacation time? Not only will you work more but you have to cover for your co-workers that have more seniority.

Are you able to ignore company politics? Every company has clicks, favoritism and certain unappealing dynamics which may make you wound up over time. I’ve heard whispered plans and dreadful lies spread about me because certain people wanted their friend to be hired. Are you ready to ignore all that and focus on the job itself? Or will you transform into the office tittle-tattle and gleefully buy your boss a Starbucks latte each morning?

You decided to start your own business. Do you think that being an entrepreneur is all about giving yourself a fancy title and working from home in your shorts while the money pours in? It isn’t. Starting a business takes guts, hard work and persistence.

There you have it.

• Make sure your commute doesn’t kill you over time.
• Avoid working for the company clown.
• Think hard about your seniority perks.
• Get ready to ignore office politics.
• Figure out if you have the courage to become a successful entrepreneur.

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Goal Setting And Value Identification Lead To More Meaning And Purpose

Stop Complaining, Whining Or Making Lame Excuses And Start Living

I have been working incredibly hard to make meaningful life changes for years. I have changed my fundamental relationship with money (I wanted to be a millionaire by 30).I have settled into two challenging careers and am content with both. I have struggled with back issues but have more or less come to terms with this. I’ve tried to build deeper and more loving ties with family and friends.

We all have life changes we want to make. The biggest life change I’ve made BY FAR is to appreciate the fact that I’ve been given the privilege to live on this blue planet, which slowly twirls around in the middle of an infinite universe. Every single day I think about this. Everything else is insignificant. Lots of money, a powerful career or fame will not bring you a deep joy or heartfelt appreciation. If you think they will you are either incredibly ignorant or our consumer driven society has continued to suck you in and spit you out.

Go take a look up at the sky. It’s going to rain whether you like it. It WILL be cloudy some days (unless you live in Arizona). There is absolutely no point in wishing otherwise. You are just wasting energy and your time hoping for a change that is beyond your control. Learn to enjoy the day and whatever the planet serves up.

The sun will rise and it will set (it only hides behind the clouds). This has not changed since the beginning of time. Enjoy this day because you will never, ever see it again. It is May 09 2010 today. At midnight this day will have passed….forever. Are you going to enjoy it? Or are you going to spend time complaining, whining or making lame excuses?

Sometimes I sit in traffic and fume after some asshole that has cut me off. If he is driving a big Mercedes SUV I may get judgmental and hope something bad happens to him…or her. But in the end these silly incidents don’t matter. I just let it go. What really matters is that I’ve been born onto this beautiful planet and have had a few years to share it with many extraordinary living beings. And even though we are seriously fucking it up with oil spills and raping the forests, I’m eternally grateful for my time here.

I look out at the sky from my car window. I picture this magnificent blue planet circling the sun with a trillion stars winking all around. I remember how damn lucky I am to experience this miracle surrounding me. I feel a deep felt joy. I hope you learn to as well.

Make a life change to enjoy every waking moment you have here. It won’t cost you a cent.

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Choose To Be Happy

Lead A More Meaningful, Peaceful And Happy Life

5 Of The Best Self Development Books

• The Unthethered Soul – the journey beyond yourself.

I discovered this book while reading an article on what some of the worlds Billionaires were reading. This is the best book I’ve read on living in the moment, letting go of useless chatter, opening your heart and channeling positive energy.

• The Millionaire Next Door

One of my favourite best books how to become wealthy. This book is based on facts not fiction. Read more about it here.

• The Pursuit Of Happiness

This is one of my all time favorite books on the subject of Happiness. Another great book backed by facts and excellent research. I wrote a review about it at Amazon.

• The Evolving Self

This book made me begin to think I could help change the world. It was a major influence on my life and how I viewed the world. This book is real eye opener.

• The Mandela Of Being

Another fabulous book on living in the present moment. Once we understand the power of our consciousness the sky is the limit. We discover a peace and joy and let go of living with “me“, “you“, “future“ and the “past“ Also discover gratitude, stillness and presence.

Do you have any favorites?

If you enjoyed this post today, please do me a big favor and use the “Twitter” button down below (click on the + sign) to share it with your Twitter friends and followers (You can also share it on Facebook, Digg, or any of the other sites you see below as well).

Quite Simply, The 5 Best Self Development Blogs

Sid Savara – Achieve Your Goals More Effectively With Analysis Driven Personal Development

Sid backs up a lot of his posts with facts, which is why I like his blog so much.

Get Rich Slowly – Personal Finance That Makes Cents

J.D Roth shares some excellent personal success stories and gives the best advice out there on how to get rich.

Erica.biz – Teaching You How To Build An Inspired, Successful Business

Erica claims she sold her online business for over a million dollars at age 26. She provides excellent advice to anyone starting up a business.

The Blog Of Tim Ferriss – Experiments In Lifestyle Design

Tim has a bestselling book out on how to work 4 hours a week and gives all kinds of great advice on how to be successful with almost anything!

My Life Changes

A blog with solid articles on how to make life changes and also provides terrific tools to begin making life changes right now. Align your goals, personal values and mission statement all in one tracker and see your success grow in leaps and bounds.

Do you have any to add?

If you enjoyed this post today, please do me a big favor and use the “Twitter” button down below (click on the + sign) to share it with your Twitter friends and followers (You can also share it on Facebook, Digg, or any of the other sites you see below as well).

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