by Peter Bernard

Created on: September 26, 2008

Surviving the credit crunch

Well the credit crunch has now well and truly arrived.Recently several of the worlds leading banks have closed their doors for the last time and it looks like things are about to get worse.What can you do if anything to lessen the blow and the effects.
Well firstly if you are in work be realistic. Are you in a job that is in one of the trouble sectors e.g banking,construction,travel realise that although the credit crunch has affected us all it has more of an immediate effect on some jobs more than others. You need to gather information and assesslook at your corporate website find out how your company is doing by looking at performance figures chat to your manager informally about how things are looking for the future.There is a saying that to be forewarned is to be for armed.

Don't Ignore what is happening around you
Don't ignore what is happening around you and bury your head in the sand or work as the case may be what is happening affects us all. Most companies,projects determine what they would do in the worst case scenario its commonly called a disaster plan.There is nothing stopping you from doing the same. If things do go against you such a plan will lessen the blow of redundancy.In your plan outline plans and actions if the worse actually does happen.

Think Think Think
ThinkThink and analyse what your money is going on and how you can better plan your spending. Make grocery lists when shopping and try to avoid impulse shopping if it helps open an internet shopping account which will help you to avoid impulse buying. Try and buy in bulk and research where you buy. Other methods of saving money include also analysing and planning your car trips,insulatinig your home to keep down heating costs etc.These measures are not simply for fun but actually help you to decrease your outgoings and put aside a little each month for that possible rainy day.As the saying goes spend less than you earn and invest the rest.

If that rainy day does come realise that the sun does still exist and has not lost its ability to shine.Life hasn't got darker it has simply taken a temporary change.The exact change depends on you.

Seek advice
Seek career advice from a specialist before you do anything they will be able to advise you on options including the possibilities of career change and possibly starting up a small business.Whatever you do do not adopt a mentality of "I gotta hit back" or feeling the victim.If you feel disturbed by the whole episode of loosing your job then seek help from your doctor. An avenue many have chosen is to speak to a life coach who can explore your next move.The sooner you get back to feeling resourceful the faster you will be able to continue your journey to the next rung of your personal ladder.

Many will find that finaces now become an issue or challenge. Seek out a good financial adviser who can hel you with you budgeting and financial options. Whatever you do do something. Even if you have a redundancy cheque and money in th e bank with no planning and income it will evaporate faster than you think and any way why throw away your experience and potential by becoming defeatist.

Rememberplan budget don't panic do something.

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