How to survive the great depression and be able to spread your wings and fly high
During a recession or a depression many people panicked and don’t know what to do. It is because they do not have enough knowledge to battle recession. This article will tell you how to survive the great depression and be at your best during hard times.
Economists say that a recession is a general slowdown in economic activity over a sustained period of time or a business cycle contraction. It is during this time that many macroeconomic indicators vary in similar way. Looking at the bad side of recession, recession effect include slow down or fall of Gross Domestic Product (GDP), employment, investment, household income, business profits, investments and many more.
We all tend to look at the negative side only. Few are those who look at the positive side of a negative incident. There are people who have developed their optimism well that they know when something negative happens they know that somehow or in some ways still there are positive things that it may bring them. Recession may also bring a lot of opportunities.
The problem with most people is that they spend more than what they earn. Here are some tips on how to survive the great depression:
• Buy what you only need. How many times have you bought something then when you reach home you regret why you have spent money for such thing. Most of us are impulsive buyers. We buy what pleases the eye but in reality it is something that we don't need. So, when choosing an item to be bought make sure that such item is part of you need. It takes a lot of time however to practice how you will identify your needs and wants.
• Do not be particular with brands. You should be after of quality. It does not always follow that expensive brands offer quality products. If you know how to examine well, Brand X and Brand Y may have different prices only because Brand X has paid for a bandwagon or testimonial type of advertisement.
• Limit your expenses. Learn how to save for rainy days. All of us were able to read the story “The Ant and the Grasshopper” yet only few of us live in accordance to the moral of the story. We act as one day millionaires oftentimes. Recession teaches us to be more like an ant rather than a grasshopper. There is no one better than a soldier who keeps his focus and is ready to face whatever the future brings.
• Show dedication and commitment in your work. Because of economic financial crisis, companies lay off some of their workers. They usually survey those who work best and those who work the least. It is the latter who is most likely to be one of those who will be laid off. If the owner or manager knows that you are an asset to the company, you are on a safe ground. There is 101% that you will be retained. Hence, you will still have a job even if there is recession.
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ABOUT THE AUTHOR
Dr. Arnold Nerenberg Is A World Known Psychologist That Will Help You Battle Recession And See Hidden Opportunities During Hard Times That Will Let You Achieve True Wealth During Recession And Actually Be At your Best. For More Information Visit AskDrNerenberg – True Wealth During Recession.