Recession Guru- Mark 5X

In a recession, well let's just say we all have to bear part of its costs. Consumers like us all will be badly affected, hence i will focus on consumers purely and how they can cope in a recession. With the income being affected, we have to watch our spending and only spend when you really need to such as basic necessities and household bills. But of course entertainment is also important like work and play is to anyone's lives, however prioties need to be set as we have to be more price conscious.

It's true that during recession, price of certain goods will fall, but do exercise caution as we can't tell ahead when the economy will recover, and thus it is important to understand that in a recession neccessities are likely to have a dramatic rise in prices. If the recession becomes worse, chances of you spending more of your income on food necessities is very likely. In such a case people get laid off from their jobs as costs as has to be cut to maximise profits which has proven effective, so in such times you really have to put in your best efforts in whatever you do to keep yourself falling off the edge of retrenchment.

Apart from the fact that food prices will rise, there will also be cuts in income, meaning lesser you can spend and save. Tips for you are to try cover up your monthly costs necessities and put the rest of your savings in the bank, though products may be cheap, don't be tempted to spend more as your future is not secured in a time of recession. Your savings could be your last resort of survival should any mishap falls upon you. As you, the consumers pull through this recession, I strongly urge each one of you to watch your spending, spend less on entertainment, try to save more. And of course read the news to keep track of the economic situation, hopefully a fast recovery will be made somewhere around the middle of next year. Follow these advices and you will be able to cope in this recession.... guaranteed