Recession! Recession! Recession!

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?

5 thoughts on “Recession! Recession! Recession!

  1. F says:

    I’ve always wondered if there are other ways of investing money without buying stocks or shares. I’m still seething over those Dangote Flour mill shares I bought, they are now valued much lower than the initial price. But you say the market is going to rebound… so that’s something positive to look forward to. I think investment is an attitude, it’s not just a process. I’m new to it and basically want to make money as fast as possible.

    My main austerity measure for 2009 is to learn to keep proper account of all monies spent. I’m in the habit of spending without noting down what has gone where.

    • January says:

      Ha F! i’ve also pondered on this issue but one of the things i have decided on as an alternative means of investment is real estate. i’ll be doing an article on this very soon. 2009 will see me investing more in real estate…i’ve decided to start buying up properties…here in ibadan, it’s much more cheaper…

    • January says:

      it’s also good that you have decided to keep a proper accountof how much goes out of your wallet….i need to renew this particular resolution in 2009. i also default atimes.

    • January says:

      Thank you F…compliments of the season to you too…. i’ve been having fun all the way and taking a well deserved rest before we resume on the 5th of next month. Regards to your hubby.

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