Money Making Tips
Imagine this scenario: You work for an internationally listed company. You earn a good salary. You spouse earns a decent salary but your salary pays for the house, the cars, the kid’s school fees, the utility bills etc. Your spouse’s income is good and normally covers groceries, his or her day to day expenses, some fuel expenses etc. Life is good. But then the head office in the States decides that the company should start tightening its belt. Your company's share price starts falling. The company starts retrenching employees. This doesn’t affect you straight away because you are in management and things are still good. But the stress builds as the markets refuse to recover. Another round of retrenchments follows. Things suddenly don’t look so good anymore. Life at home becomes increasingly tense. Then, it happens. You get retrenched. Suddenly, you can’t pay for the house or the cars. The lifestyle you have become accustomed to is no longer viable.
This scenario is unfortunately a reality for families around the world. Starting to save on your daily expenses now will help you cope with tough times that may lie ahead. Let’s imagine that you find yourself in the scenario described above. Now what? If you search “making money” on the internet, you will find thousands of websites offering “get rich quick” schemes. Don’t fall into the trap. Anyone that finds themselves in a desperate situation will be tempted. Avoid it! If you have some savings to get by on for a little while, use them wisely until you find a new job. This may be very difficult because of the life you may have become accustomed to, but it’s imperative that you avoid temptation and adjust your lifestyle accordingly. Instead, file for UIF and beging hunting for a new job!
Some senior execs have resorted to working in chain stores in the US due to the lack of opportunity that the recession has caused. You may not necessarily need to go to that far, but the fact is that desperate times may call for desperate measures. If things get that desperate, then that may be your only option, but try and make it clear to your employer that you are looking for appropriate employment. Also, schedule as many interviews as possible. This may seem like common sense but the fact is that a lot of people forget to do this because the psychological effect of sliding down to the “bottom of the ladder” may lead to severe depression. The reality is that if you spend whatever money you may have and make, however little, wisely, then you could weather the storm and come out of the deepest darkest pit with the brightest torch.