The financial bailout is on everyone’s mind and some have even compared this economic downturn to the stock market crash of 1929. These are the times that it is nice to have savings and not be in debt and totally dependent on your job. If you have more than one source of income it will help you sleep better at night, especially when the rest of the country is panicking.
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So many people have gotten used to spending more than they make or at least spending everything they make at their job. This means they are always looking to find credit card deals where they can borrow more money. Up until now, the credit card companies loved to send “preapproved” credit applications in the mail and people mindlessly sent them away to get those credit cards. No one teaches kids how to save anymore and we are feeling the effects of that all over the country and world. Unfortunately, if you haven’t saved anything and have nothing to fall back on, there is lots of trouble ahead for you.
There are a lot of people right now that are in a very serious finacial crises situation. This all started years ago as more and more people chose to live a lie and continued to live way above their means. Just because you have a job does not give you the right to have a house. Just because you are married does not give you the right to have a house either. And just because you can get a mortgage does not mean necessarily that you can afford the house. In America, we have what we believe are many God given rights but material possessions are not on that list of rights. Not everyone has the right to that nice house and car as you have to earn it first.
People all over are losing their jobs and their homes right now and this may not turn around for years. It is very hard to find jobs that are hiring anywhere in the country and in the world it seems. This has even affected me as one of my clients has filed for bankruptcy and I sit at home with no job to go to. Luckily for me though, I have savings and I have ways I can make some extra money online. I have never limited myself to just my job but have always had several ways to make money if I need to. It is good to be prepared and to put yourself in a position where you will never need to panic. It is good to have lots of job ideas that you can turn to if needed.
If you are already in a mess with your finances and just now starting to figure out what to do, it might already be too late. With this economic bailout of the financial and credit card institutions, people will have trouble getting credit as the credit card companies will no longer be giving it away. Getting a home mortgage loan may become harder than it ever has before and if you are trying to get new credit to finance your old credit you are probably out of luck. Those of you who have lost jobs or may lose a job had better figure out an alternative plan very quickly. With higher gas prices, higher food prices, lower home values, fewer jobs, and hard to obtain credit, the immediate future does not look too bright for anyone. The words “recession” and even “depression” even come to mind here in 2008.
Many people may have to get part time evening jobs to make ends meet if they can’t continue to live off their credit. If part time jobs are a necessity, getting some sort of home based part time jobs is the way to go. You may just have to buckle up and try to figure out how to make extra money at home to get you through the hard times. The good part of all this could be that you might find something that you like and are able to make money at and ultimately might turn it into a full time stay at home job.
If you are lucky to be able to work from home you are at least one step ahead of everyone else who has to commute and pay the high gas prices. Many times work at home jobs really mean that you are self employed but just because you are self employed does not mean that you are immune from the downturn of the economy. No matter what you do for a living, you are dependent on someone else in some way or another. Someone has to be there to supply you with a product or to buy your product or service. If they suddenly disappear, that means trouble for you no matter what. Even professional poker players who don’t provide any product or service depend on other players to be there to play against them.
The best part time jobs are those jobs that you can do on your own terms. By that I mean the best part time jobs are those that you can do when you feel like it or when you need the extra money. Stuffing envelopes from home would not fall into that category! Most of us work because we have to and very few of us work because we want to. If you can find any home jobs or part time stay at home jobs that you truly like, you are way ahead of most of us. The Internet gives some of us the hope of finding home jobs where we will be able to work the hours we want and not have a boss. Whether you are in financial difficulty or not, now is the time to start thinking about how you want to start making a second income. There are probably as many creative job ideas as there are people but now is the time to start digging yourself out of the hole or start preventing yourself from ever falling in the hole.