It appears that there are more than just whispers that yet ANOTHER recession might be on the way. This is what they call a double dip recession. A recession is usually defined as 2 quarters of decline in the GDP, or Gross Domestic Product, which is the sum of goods and services produced in the United States.
Many people are falling off the rolls of unemployment benefits, and others are underemployed or employed in a position that they are not fond of.
With all of the bad news, there are very few that talk about what the general public can do. For example, everyone is worried that when unemployment benefits run out, what will these people do? Are they going to die since the government will no longer take care of them? Or, for those underemployed or employed are you just supposed to accept your lot in life, and stay stuck in a job you hate just because it is paying the bills.
My answer, NO!
You see, it is my firm belief that we have to get back to some old school principles and tactics to ride out the storm.
For example, if you are on unemployment and have not been able to find a job, your benefits may be running out and in yet another recession, that is not good. If they do, you might have to start looking at alternate ways to make money and make some dramatic spending cuts in your lifestyle.
Here is my idea for someone that is unemployed with benefits running out.
Take a lower paying job to generate cashflow, supplement this with cash from creative sources like ebay, garage sales, recycling, product sales or donate blood or plasma. Don't tell me there are absolutely no jobs today. You have to be willing to do what it takes to make a living. I just did a search on craigslist in the Detriot Metro area- which, by the way, has extremely high unemployment. It returned 100's of open jobs in many categories, for just a single day. Many of these jobs were looking for people ASAP!
After you get some kind of cashflow coming in, supplement that income with anything your skill set is compatible with. You could offer bookkeeping or tax prep services, a whole host of home or business related services like I mentioned above. Or, you could offer homemade items to the public. There are so many ways to make extra money, that can fill up another article.
The additional cashflow can help cover expenses, just be sure to start saving money, even if it is very small amounts since a double dip recession can cause unexpected jumps in consumer goods, and it is my feeling gas prices will increase as well.
Next an idea for those of you that are under employed, or stuck in a job you do not like.
If you are under employed, continue your aggressive search for the job or career you are looking for and perhaps consider volunteering your services to a firm or company that meets your criteria. It will let you get your foot in the door for future job opportunities and it should impress the management that you are a real ambitious person.
Although this may not generate any cash money for your budget, it will give you another option if a double dip occurs and your primary employer has difficulty.
About this Author
Mike George wants readers to prepare for the worst case economic scenario. You can read more information about financial defense strategies from the double dip recession that is coming at Recession Defense.
Article Source: http://EzineArticles.com/?expert=Mike_George
