Is the pound/dollar/euro in your pocket weighing you down with worry about how low the currency can go before it’s not worth the paper it’s printed on? As currency markets around the world tumble quicker than pins in a bowling alley many people are clinging to the hope that their homes and jobs don’t topple into oblivion just as quickly.
Stores closing, factories downsizing and small business owners simply giving up are the end result of years of greedy banks and financial institutions lending money like it was a never ending pool of cash to individuals and institutions who obviously had no hope of ever paying it back.
Surviving in a worldwide financial meltdown is a difficult task if you still insist on having those ‘must have’ consumer goods. It’s a wise person who can resist the temptation of rushing to the nearest store to buy that latest HD television at a (bargain?) price. What price is a bargain though? Sure – you may have just bought a £700 television for £400, but if your current television is still in good working order and that needlessly spent £400 puts you behind in your mortgage payments then the television doesn’t seem to be such a bargain any more.
These are tough times and are sure to get tougher before there is any glimmer of light at the end of the proverbial tunnel so the watchword, in the next few months at least, should be “frugality” as after all, a penny saved is a penny earned. Tighten your belt, ride out the storm, spend any money you have wisely, on items that you actually need and don’t try to keep up with the Joneses as the Joneses will always seem to have an endless supply of cash – you don’t!
If you are unlucky enough to lose your job and become another victim of the ‘credit crunch’ then you will be glad you didn’t waste what cash you had. The rainy days you’ve been saving for are here and it’s not just raining – there are cats and dogs coming down this time.