There are always options

We are living in increasingly uncertain times. Whilst the stock markets seem to be rallying unerringly and governments keep reiterating that we are over the worst, more and more people are losing their jobs, their homes, their pensions and their future security.

In the USA, Michigan has one of the highest unemployment rates right now. I was talking to a client whose house was originally $1M a year ago and now at $250K she still cannot find a buyer. California and many other states are going through terrible times, yet the banks, having taken taxpayers money, continue to pay out huge salaries and bonuses to their employees.

What can we do about it?
First of all, be ready to speak out, to write to your representatives in Congress if you live in the US, or if you live elsewhere, to those in power. Don’t accept their excuses and get together with like-minded people and make your views known. For too long we have trusted our governments and the powers that be and now they are proving themselves untrustworthy and incompetent. It’s time to stand up and be counted.

If you are one of the unfortunate ones who have reached the stage that you are filing for bankruptcy, remember that JC Penny said that anyone who hasn’t gone bankrupt three times is a failure. If you find you have to sell everything for 10 cents on the dollar, at least it still gives you something. The tighter you hold onto what you have, the more desperate it becomes. For those of you who are struggling but who are not yet bankrupt, only buy goods that are on sale that you must have.

If you are locked into any contract, try to renegotiate your contract or your mortgage. There are always different options at your disposal. It may look very bleak one day, but you always have options. You may not like all your options, but there will always be some if you look hard enough.

Try to economise wherever you can. Here are a few ideas:
- don’t buy ready-made meals, start from scratch. It may take a little longer, but you will save money and it will be much healthier without all the additives and preservatives.
- avoid the fizzy drinks aisle in the supermarket – do you really need all those sugary, unhealthy liquids? If not, you will save yourself a lot of money.
- you don’t need a different cleaner for each part of the house e.g. bathroom, kitchen etc. For about $3 you can buy one cleaner that will do the entire house in different dilutions.
- when something is on offer that you like, buy it in bulk and stock up.
- buy toilet paper instead of tissues.
- start building up a storage cupboard of dried, tinned and dehydrated foods. You will then have some supplies should supermarkets be unable to stock their shelves, or if you experience a lean financial spell.