How To Survive The Recession?

An economy is considered healthy if there is a cycle of fast growth

, slow growth and no growth, thus recession is part of daily living and we cannot prevent it, yet we can lessen the negative impacts that it has brought or still could bring to our lives. There are a lot of tips and guides spreading over the internet on how to survive the recession. However, if you come to consider of it, all of those are useless if they are not applied. To survive the recession, then it must begin within YOU!

Economic recession is a condition wherein our country's economy is going down for the last two quarters, thus the production decreases as measured by Gross Domestic Product (GDP), employment, capacity utilization, investment spending, household incomes, business profits and inflation while the bankruptcy and unemployment increase. Recession in general is due to the extensive fall in spending.

The government should presume the extension of policies for macroeconomics such as increasing the supply of money and government spending while reducing taxation. As an individual on the other hand, in order to survive recession then you should do is finding a good and stable job that could as well survive the recession. This would include jobs related to education, health and public administration while avoid construction and retails associated jobs as these rely on cash surplus in the economy.

While your income is constantly flowing in, don't rely on it. To survive the recession, find some means to earn extra income. If you can still handle it, find some part-time online jobs pr invest some of your money. It is also important that you look for items where prices are discounted. Also, learn how to do household chores yourself that you usually pay others to do for you. Instead of buying instant food from a fast-food restaurant, learn how to cook your favorite meal and other simple menu. You can also study gardening, fixing of household items, and painting, among other household errands.

With your extra income, take some percentage out of it for your savings and payment of debts. Let your savings accumulate into large amount but not your debt. These are only simple things that you could utilize with your daily living to survive recession. It is your choice to follow these or not. But if you do, you will not just help yourself but your society and eventually your nation as well.

by: Oti Oteri

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