Downfall Of The Economy - How Will I Be Affected? - Business

Questions and AnswersQ- How bad will this economy get?

A- This downfall of the economy has really just started; in the near future you will see more local and national businesses shutting their doors, contributing the cause to many factors. Some factors may include: (1) gas prices - which hurt many services business cutting their normal profits in half or more while forcing them to pass on some of the fuel increases to the consumers (2) unemployment - which causes people to save instead of spend, hurting more businesses and leads to more people without jobs and tons of bills to pay.

Do not be fooled by the government bailouts, they are doing the same thing most people do right before they claim bankruptcy - using credit card debt to pay off your bill debt. I do not know about you, but when a government is taking on billions of dollars in debt to bail out the economy, we all need to be greatly concerned. This means the average person probably will not be clicking their ruby slippers together while repeatedly asking to be sent home; because in reality their not sleeping, but wide awake and living a nightmare.

Q- If I loose my job, how will I pay my bills while I am trying to get hired somewhere else?

A- When someone is asking me this question, I really know that they are in a bad predicament. This situation happens to be the single biggest reason why people have had financial problems and had to rely on bankruptcy (leaving hundreds of thousands of families without their homes, cars and basic amenities).

So to answer your question, yes you will loose everything if you can not figure out how to replace your income in a timely fashion. No matter how far up on the feeding chain you are; if you have no income - eventually you will not be able to pay your bills. It is very unlikely that you will find another job that will pay you in the same respect; other companies are much like the one you where fired from, and are trying to downsize their business as well.

However, for those who have a secondary income or a full-time income that is not linked directly to our local economy or a job that they will not lose; those people will fair just fine. You should take a look and find yourself a secondary income or home-based business that you can build before it is your turn to get downsized. At this moment working a few extra hours every week to build a second income is not an option; it is a financial decision that could cost you everything. I suggest that you begin as soon as you are finished reading this article. To start, go out and find as much education on how to make yourself an extra income before time runs out.

We are living in desperate times, and those who have had their head in the sand trying to ignore what is going on will be the ones who are without food, shelter, transportation, proper education, income, health care, etc. It is best to get going now before it is too late.

Summary:

Answers to some of the most feared questions relating to the downfall of the economy and how it will affect you. Also discover who will be able to pull out of this bad situation mostly untouched.

Key Words:

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By Jason Allen Miller/find

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