When the going gets tough,the tough go shopping!This is so true!No 'thanks' to the current economy blunder .How did it start?It all started in the US,where people were spending more money than they were earning,which forced them to buy things on credit.And because of this,personal debt skyrocketed from about 30% of a person's income to 160%,over 10-12 years.
HOW WILL IT AFFECT US
It may be hard to find a job with the job market becoming strained and employers cutting costs,and some risks losing their jobs because the employers cannot afford to pay the wages,and the retailers will start dropping their prices to attract more buyers.
WHAT YOU CAN DO
- SPEND MORE!-It might seem inapropriate but apparently the saying 'money makes the world go round' has more than a little truth to it.By continuing to spend your money,you'll be helping the Malaysian economy to grow.
- SAVE MORE!-Confusing as it seems,after you've spent your money,it's important to keep on saving as well.This is so if the unexpected happens,like job losses,or trouble getting a job,the money you saved earlier on could be count as backup.
- Get a pre-paid instead of the usual bills.
- Make a budget and list every purchase made.
- Prioritise and decide what things are really important at the moment.
- Shop at flea markets or shops that allow bargaining!
- Decrease journey,unless neccesary.
- Carpool to save money on petrol(and also help the environment).
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