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The best career advice I was ever given was that it is easier to find a job when you have one.Yahoo recently announced layoffs which few people in the industry would have predicted in light of the company being in the brightest sector in the technology industry -- online advertising. The recent jobs report further validates that employers are slimming their ranks as the economy lost jobs for the first time in more than five years.
This is further indication that we are heading or already in a recession. Read "The R Word." As this economy tightens, it's important to keep things in perspective and to have a plan A, B and C.
Remember the six months of income that financial planners suggest you have in the case of an emergency?
This was the rainy day they encouraged you to save for. Call me observant, but I know most people reading this are having a difficult time keeping up with the rising cost of the basic essentials, which makes saving a lump sum almost impossible.
Here are a few tips to help you weather the coming financial storm:
1. Take out a line of credit to be used in the event of an emergency. If you fall victim to a staff reduction it will be almost impossible to get a loan.
2. Make use of your skills to become a consultant. Now may be the time dust off those business cards and put some feelers out. Visit www.sologig.com
3. Update the resume and ping some folks in your industry. Need to upgrade those networking skills? Read "Click" by George Fraser or "Never Eat Alone" by Keith Ferrazi.
The forecast for the economy is gloomy but proper preparation can help you weather any storm.
www.deborahowens.com
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Is Recession the "R" Word?
Comments: (4)
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By: Justice on 2/09/2008 5:29PM
I wish I had followed some advice I got similar to this one. Now I'm stuck and its only gonna get harder.
www.happitees.com
The place where happiness is OUR way of lyfe!!
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By: Paul B on 2/11/2008 3:38PM
Great Depressions are caused by the huge transfer of wealth to a tiny minority at the top of the pyramid, which as Einstein put it, causes 'instability' in the 'utilization of capital' which then results in 'increasingly severe depressions' with the severity of the depression correlated directly with the degree of income inequality that has developed in a society. In other words, greedy millionaires and billionaires are going to cause the worst economic depression of all time. As their paychecks get bigger and bigger, our economy becomes more unstable. I'm not discounting other major factors. But this is the bottom line. The middle class will soon live in poverty because of people like Bill Gates, Donald Trump, and EVERY CELEBRITY. So don't fall for their 'humanitarian' BS. Its nothing but an excuse for their incredible greed. Please copy this and post in response to every story about the economy, celebrities, pro athletes, and executives. We don't have much time left.
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By: Charlotte on 2/22/2008 1:30AM
I totally agree that Great Depressions are caused by the huge transfer of wealth to a tiny minority at the top of the pyramid. You can always find those who are at the bottom of the pyramid at at ### PozGroup.com ###, which has become the #1 dating&support community serving herpes, hpv, hiv or other STD people
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By: Barbara M on 4/13/2008 2:11PM
I would just like to comment on the African Race ad the Ressoin. it's really,really hard for us at this point. Simply we are the Race that don't plan for the rainy day. Like our parents have mentioned to us if u make 100.oo definately save or at lease try to save75.oo of those dollars. But as the Afro american race do we alway's do that? I will just go ahead and answer my own Q? NO!
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