That the global world is experiencing a major financial setback is no longer news. What would make news over the next one year is how we manage our finances and spending in order to save more money in our cash till. Recently, I came across an MSN article analysing the end of 0% down payment. While our banks are still offering a 10% down payment for almost anything including that once in a lifetime vacation, other countries are already thinking ahead on the best possible way of salvaging this dreadful financial mess.
So, what are some of the austerity measures we may likely introduce in our monthly budgets? I, for instance have decided that I’ll be saving more than I ever did; invest some money in the money market and still buy more stocks cos the market will rebound someday (if you’re investing for the long term). One other thing i’ve yet to decide on is concerning my vacation trips….I won’t give up on that (life is too short not to enjoy it cos you’ll end up dead anyway) but one thing, i’ll likely do is to look out for bargain trips that will save me more money on accomodation and ticket fares.
So, i’d like to ask you out there…what are the austerity measures you intend to kickstart in 2009?