July 4th: Recession Mindset Coming
How can you prepare?
If you think about the US Economy in a similar fashion that you would with a household economy things may make a little more sense to you on what is going on.
Home Economy
- Excessive Spending
- Frivolus Spending
- Put it on Credit
- Allow 20 new people to live in your house
- Pay for their food, shelter, clothing, and medical bills
- Set up a means for each of them to get Schooling and Skills
So if you were a fairly well to do person and made $100,000 per year
You would have to deal with the decreased space, increased noise, and stress associated with handling all those bills.You're personal time would be almost nothing as you would have to deal with any and all issues arising in your new family arrangement. You're spending would go up way high on food, and supplies, along with changing things like Internet, the purchase of transportation or providing public transportation.
Aside from having little time, little sleep, little peace, your income would be severely stressed and you would begin purchasing things on credit to handle the increased costs. Now then, what if you were to cram in another 20 people. Do you see where I am going with this?
This scenario does not make much common sense, but the spending continues. How long do you think this household could go on before there is a collapse not only in finances but in the family structure that has been set up?
Well why not print more money to handle the stress? Doesn't that make the value of your relative purchasing power go down?
With the gas prices, the food prices, supply chain shortages, especially baby food, American's are beginning to feel the pinch.
People are getting more aggravated and annoyed, some are really hurting.
Like being lost in a swamp
But now July 4th is coming, and soon after that Labor Day, Thanksgiving and Christmas. People will want to go on road trips, fishing, vacations, and family visits while we get ready to celebrate. You go to the store and load up on food, and load up on gas, and then suddenly people will really feel it.
So how do we deal with something like this recession coming, and the inflation that it is producing. What can we do?
Marcus, the Affiliate Dude, explained all this in detail on the below video and gave some tips on what you could do about it. See video below
Something immediately you can do is to begin to look at what you're spending on, and see if you can improve it's efficiency, so you make what you have go longer. Another thing you can do is really begin to develop a saavy eye towards deals. Maybe the eggs have gone up so you get less of them, but other kinds of foods have not gone up as much or not at all.
Yet, if our spending power is shrinking we need to find a way to deal with that. How do we slow this down, or how can we make lemonade out of lemons. Perhaps we can find other ways to increase our income and assets so that we don't feel it as much or we have a means to offset what is going on. It's similar to how they have the cost of living increase and raises set up, so you can handle those changes. It would have to be something that you could do pretty fast and easy.
What if there was a way that you could handle those changes? What if you could create extra income streams and open up the world of buisness deductions by starting your own home based business? What if it did not cost an arm and a leg to do it, while opening up the possbility of bringing in a few hundred dollars per month to your situation, and possibly even much more than that.