Practical Tips for Surviving the Recession

The subprime mortgage crisis of 2007 has hit the world hard. Rescue packages have been rolled out in numerous countries to help their economy’s’ survive and lessen the recession effects. Australia’s Reserve Bank has dropped that country’s official interest rates by a massive 1% in recent days. I wonder if this foretells what is to come and how it will affect the communities of the world in the immediate future.

With all this happening in the world arena you must be wondering how you can tighten your belt and help yourself survive what is going to be a difficult financial time. Here are some very simple tips that can help you save money and survive an economic recession.

Become Power Hungry

Cut your power use. You can do this by switching your light bulbs for ones that save energy. You can also save power by turning the thermostat on your heating and cooling system up or down so it is not running all day. Or, adjust the thermostat to automatic so its use fluctuates during the course of the day when it is most needed.

Make sure all lights and electrical appliances are turned off in rooms that are not being used. By turning off the standby power to all your appliances, you can save yourself quite a bit of money over a year.

Watch this video
http://au.youtube.com/watch?v=gwBV9df7KmI

Ban the use of Paper

Use your computer instead of paper. There is little use, these days, to print much out when you can use your computer system to send information and as a storage system. You can even burn your information onto DVD or CD discs. You have now eliminated the need for much paper and the need for storage space, filing cabinets thus saving yourself money.

Cut Back your Opening Hours

Another survival tip during a recession is to shorten your business hours. Take a look at your business and determine which day of the week is your quietest and close on that day. This will save you money in overheads on a day that may not bring in enough money to cover costs. This can work for all sorts of businesses. In many cases staff can work from home a couple of days a week to also help you cut utility costs. If you own a shop you can probably use a day off and it even cuts staff wages for the day.

Conserve Water

Cut your water usage in your business, and at home. Install more efficient appliances to help you conserve water. Also regularly check for any water leaks and have them fixed straight away. You don’t want to waste money on water you don’t use. Do you?

Do Deliveries One Day a Week

If you deliver to your customers cut down to delivering only one day a week (if you can). Plan your delivery routes to cut down on wasted mileage and extra gas costs to help you survive the recession.

Market Online

Use the internet to market your goods and services. Even consider setting up an online store you customers can access to save them traveling costs as well. This can help boost sales and may cut your labor costs. It may even bring you customers that could not access you before. If you do not sell products but services, then the internet is a must for you as it can open up the world to potential clients from across the world.

Consider Hiring Virtual Assistants

Hiring a virtual assistant is a great way to cut costs. You can a hire a virtual assistant for all sorts of help either on a project basis or on an ongoing basis. Do some research online and you may be surprised at just how affordable a virtual assistant is, especially during times of an economic recession. This can then eliminate the need for permanent staff. Virtual assistants work on a contract basis and all you pay is an agreed rate or price per project.

You may see these recession tips as very basic but, try them for 3 months and see how much money you save. It just may be the difference between surviving the recession or not.