Friday, September 11, 2009


Increasingly, people are looking at ways of beating the credit crunch as more jobs are lost and consumer confidence is low. Surely, there must be other ways of beating the credit crunch apart from the usual money saving ideas.

The credit crunch tips all seem to focus on ways of saving money. From dumping the car in favour of a bicycle, to shopping at discount stores, these tips although useful, indirectly advocate a change in our lifestyle. It’s all about being market savvy, opening savings accounts and making do with less for most commentators. This is mainly because it is more difficult for people to obtain credit from banks to supplement their income and maintain their lifestyle.

Beating the credit crunch should not mean changing or downsizing our lifestyle. We can still maintain or even improve our lifestyle during the credit crunch by earning more. Let’s face it, we complain that our jobs take a lot of our time but we still find enough time to watch TV, use the Internet and generally do nothing. Why not use time more productively instead by starting a home based business as a means of supplementing your income?

By starting your home based business, you could make enough money to buy that new car or go on that holiday you probably couldn’t by just focusing on saving and cutting back. Secondly, it will conquer your dependency on credit as you would not require loans or credit cards for your expenditure. If you become very successful in your home based business you could even replace it full time with your current job, enabling you to have more time for yourself, your close friends and family.

Saving and cutting back tips are not ways to beat the credit crunch. Instead they are ways of raising the white flag and accepting that the current economic crisis has impacted on our lifestyle adversely. This period is a fantastic time to start a home based business, especially internet-based, for example network marketing.

More people are losing their jobs and are evaluating what they want to do next. The lure of having more time and financial independence is appealing to these people, so recruiting them is easier than in times of buoyant economies. Therefore, now is a good time to start your business.

It is very important that in the current global financial crisis, people pay a great deal of attention to their finances. Money saving ideas are usually ways of adjusting to the credit crunch but they are not ways of beating it. Beating the credit crunch means finding ways of maintaining or improving our lifestyle prior to the crunch and this can be achieved by supplementing our incomes to cover the shortfall due to banks tightening their lending criteria.

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