Recession Is Coming They Say!
Well what if its already here? Recession is where the economy is about to collapse? Is the UK not close to that now?
When so many businesses sink in a recession, there are some that thrive.
How do they do it and how can you do the same to make sure you don’t sink with everyone else.
The recession all over the world is looming on us all, we are just waiting for the powers that be to actually say – its here.
People are already facing financial trouble with the energy prices going up.
The next step will be people losing there homes that they have worked so hard for all these years.
NOW is the time to look into doing something about it, not only to be able to keep your home, but to actually make more money in the long run.
Saving Your Money For A Rainy Day
I used to look at money as a something you kept safe, never let go, to be able to call yourself rich.
You have 10k in cash in your pocket, why wouldn’t you feel on top of the world.
I now know that its:
- Stupid to have that amount of cash in your pocket.
- To have that amount of cash free.
First to able to survive the recession, we need to know why the recession is here.
I’m no economist or financial adviser but its clear to me that this all started with the pandemic in 2020.
Back in 2019 you could start a business and with hard work it would become successful over time.
You would get more customers, begin to employ people and be able to get good prices for buying your raw materials in bulk.
You business would grow bigger and better the older it becomes.
Then we were all told to stay at home!!!?
Close up shop, it was illegal to open your business to the public.
It was crazy times that have never ever happened in the world before, even MacDonald’s was forced to close it doors – and that never closes.
No one was prepared for this, nobody saw this coming and nobody knew what to do.
So many business had to go bust and lose everything that had worked for.
Others took on a loan from the bank to be able to get back on their feet, only for them to have to pay back the loan later down the line.
This Should Of Worked
The company’s that did take the loan had less competition as some of the other business closed down.
This would mean there would be more customers to come and help the business grow.
However – then another obstacle was in the way.
The price of raw materials sky rocketed.?
Weather you’re a builder, restaurant owner or car mechanic.
The costs to run that business just went up. Not buy a small amount either.
It was an extortionate amount, where again some business couldn’t survive.
I know a mechanic who would have been able to survive, but even if he was able to chare customers the crazy prices for parts – he wasn’t able to get them.
There were 50k cars sat around in his garage waiting for parts for around 6 months.
It wasn’t as if the business that went under were poorly run too. With all the hurdles put in the way, it just wasn’t cost effective to keep the business going.
Now you can see why I say that the world is in recession.
Its not over yet.
Many Big Company’s Ride Out Recession
A lot of bigger companies with a good amount of money behind them are still trying to ride it out.
With fuel and energy prices being a huge factor, weather they survive or not.
Recession doesn’t only bring doom and gloom……..
Its an historic fact that many wealthy people have made more money through a recession because it presents new businesses to be able to grow.
Usually following any recession is a long period of growth.
For the last few years, everything has been going UP in price
It’s all been going up in value.
So what does the governments do to combat the raise of inflation (due to them actually printing all the money in the first place)
They raise the interest rates.
So people stop barrowing as much, in turn stops them spending as much.
This pushes the recession slowly.
The only way out of recession is for the cost of living to come back down to encourage people to spend and help the economy grow.
This is where the opportunity lies. When the cost of living starts to come down.
Rather then spending all your money at the moment thinking your helping the economy grow, you need to be investing the money or saving it to make it grow.
If you’re an employee there is a risk that the business you work for may not survive. So having a plan B in place would be a huge benefit to you right now.
Be your own boss – You wouldn’t fire yourself.
This isn’t going to be a long term game. It will be happening in the next 12 months, so why not be prepared.
Do some research into past recessions and how people were able to actually make money from the recession.
This will help you be prepared when the time comes.
Put yourself around people who are also doing the same.
Community’s on Facebook or forums such as reddit or Quora.
Two minds are always better then one.
Save Money Where You Can
Cut back on the luxury’s you treat yourself to for 12 months.
Skip that holiday to Mexico just this time and save the money.
With what happened with the 2020 pandemic and the war in Ukraine this recession is not like all the others.
Its going to make a big difference to the world, more then it has already.
This is just to help you be on the right side of it all.
The more you invest when everything goes lower the better you will benefit from it all in the future.
A recession can last around 8 months to 4 years.
When on average a person works 55 years of their life, The worst case scenario of 4 year is a small amount of time to wait for the recession to be over.
So what can you do in those 4 years to aluminate more money?
Start a business of your own.
Without having to
- Buy stock
- Risky investments
- Spend your life saving
I would look into affiliate marketing. With affiliate marketing all you need is time and a computer.
You are able to recommend:
All to other people and make a commission of each sale.
With no limit to how much you sell too.
The affiliate marketing industry has been booming since the pandemic in 2020 due to a lot of business moving online.
Once a brick and mortar business goes online, they need someone to get there name out.
This is where an affiliate marketer comes in, they do the advertising for them for a commission.
I have been doing this for over 3 year now and have been able to earn 3k in some days.
As I get better this will go up over time.
If your not sure what affiliate marketing is or how you could get started. Invest 2 hours of your time reading this book –
Right you have the knowledge now. What are you going to do with it ?