World Recession: General Survival Guide

As we are all experience it, we are facing the world recession. Started back then on 2008 as a well-known financial institute located at United Stated crumbled down. Later, the institutions know as Leman Brothers, soon many others come along such as Citibank, Ford, GM and many more come into the list. Hundred thousand of workers was lay off and suspended causing as unemployment tsunami.

            Prediction say this global recession will be on its peak at Q2 this year and slowly climb back at the end of year. Now, some of us maybe do not the effect yet, but eventually it will. Questions are how are we going to survive this?

Salary cut and no bonus.

            When you receive your paycheck, you surprise by the missing numbers. In addition, when you look around you will notice that some of your coworkers may not be around anymore. You should be questioning, what is going on?

            Yes, we are facing that problem today. Our salary being cut and bonuses has been cancel. Negative sales and small profit make cutting salary become the only option available, not to mention lying off the employee.

            How this condition will go on? Will we survive? What we are going to do?

Manage expenses.

            The easiest thing to do is to manage our expenses; we need to enforce a tight money policy in our expenses. First, we have to able to sort out our needs into primary and secondary category.

            Our primary needs would be foods and water, electricity, and children needs, etc. If you are still single, then you do not need to worry about children needs. Secondary need would be clothes, jewelries, vacations, entertainments and the rest of other needs that not listed in primary needs. However, soon we will come to a question, which are important which are not? For us, everything is important.

            We must put aside our secondary list, and concentrate on our primary list. We must prioritize which one should be buy first, and which one could be delay and off course, which products could be replace with a cheaper one. Then, do the same with your secondary list. In the end, we will have fours list which are, primary important, primary unimportant, secondary important then secondary unimportant. From these lists, we will come out with the expenses statement, which will give us the ability to control our financial expeditor and save more for worst condition.

Help ourselves.

            This is the moment where we are force to accept the harsh reality, however if we are well prepare we have nothing to worry. Eventually the condition will turn to our advantage, and we could put a smile on our face for the victorious moment.