Are you worried by the recession? How do you plan to make money?

@bayernfan (1430)
Canada
November 8, 2008 1:30pm CST
With more and more world economies going into recession and jobs being lost left and right (240K in the U.S. for October), what do you plan on doing to cope? Are you planning on searching for a lower wage second job? Perhaps selling some of your less needed items around the house or garage? Maybe cycling or walking instead of driving? Oftentimes it's easier to cut back on expenses than add more income to the equation. Anyone cutting back on eating out or shopping at Wal-Mart or Costco instead of higher priced stores. What about paying off debt so that income isn't being eaten up by interest payments? What are myLotters doing to try to earn some extra cash [besides posting on myLot of course. ;) ]?
3 people like this
10 responses
@klaudine (3652)
• Indonesia
8 Nov 08
I am not yet working and I am so glad that my family can still holding up in this crisis. I am so glad that my parents can still make some living for us but I also worried about the situation. I am making some money from the internet but of course it is not enough for me to get a living with that. So far I am making money by posting and do anything I could in the internet. Of course I am trying to think about making some more, because I have to earn my own money from now, for I have to reconsider about my parents' financial situation. It is so hard for now... really hard.
1 person likes this
@bayernfan (1430)
• Canada
8 Nov 08
Times are tough all around. It helps when everyone in the household pitches in. Good for you. What are you doing online, besides posting on myLot, to earn a little bit of extra cash?
1 person likes this
@klaudine (3652)
• Indonesia
9 Nov 08
I am making some review and posting at another places. Some of them promise higher rate than here in this place and that was quite attracting. I was only trying and see if it is true so i would be able to earn from more than one place and I think it would be nice if I could do so. Making review is another thing, we would be paid somewhat higher, but it would take some times before we were really able to make some money with it.
@bayernfan (1430)
• Canada
10 Nov 08
Have you actually been paid by those places offering better rates than myLot?
@SomeCowgirl (32270)
• United States
8 Nov 08
My fiance and I are currently unemployed so everything we get from here just is saved. We are lucky enough to live with his parents, but I feel so bad as sometimes his mom get so frustrated with us not doing anything. I want to, but then again I'm afraid to ask her what I could do to help, she's always seemed as if she's got it all down and that she doesn't want any help with chores and such around the house. I know that I do try to help in little ways like turning lights off behind me and such, when I don't I feel so bad that I hadn't. I want to discuss a few frugal ways with her, but I also know that I am a bit frightened or would feel awkward with doing that as well. We live in the country so I am sure we could save money by buying farmed grown vegetables and milk, there's a few places around here that offers it... Right now, we're just saving, but I do wonder what the prices will be like once we get back into the working world.
1 person likes this
@bayernfan (1430)
• Canada
8 Nov 08
SomeCowgirl, I am sorry to hear about your situation. Living in someone else's home (whether they are family or not) under their rules is difficult in the best of times. You sound like a perceptive and sensitive person, so your intuition that your fiancee's mother seems a little perturbed with you on her turf might be right. Perhaps his mother sees encroachment on her duties/chores as a challenge to her roll in her house. You did also mention that "his mom get so frustrated with us not doing anything", so she could also be resentful for the additional burden on her household without an active enough attempt to remedy the unemployment problem. Properly searching for a job is as much work or more work than full-time employment. Quality jobs don't come easy and, in difficult times with more competition, more effort is required to gain employment. How often do you adjust your resume? Do you tailor your resume to specific job offers? Are you conducting a job search every day? How long do you spend searching? What type of searches do you conduct? Are you only looking online? Networking is key so get outside talking to friends and meeting new people to let them know that you are looking for work and what you can do. I understand that you are in a rural environment so that creates some more difficulties, but it could also be a problem. Spend as much time away from your fiancee's parent's homestead as you can and it may alleviate much of the difficulties as well as showing his parents that you are working hard and actively looking for new jobs and self sufficiency. Please don't be upset by anything that I have written here. I do not know your complete situation and I only have the text you have written to guide me. Good luck with your search.
2 people like this
@SomeCowgirl (32270)
• United States
8 Nov 08
I am not offended what so ever and I appreciate all you have said. When you said "rural" however, my definition of "rural" is living in a suburban area, although I know that rural is also used to speak of farms and etc. The job market for where we live is very low, we have tried our best to find a job, and we still have not yet found one. I am actually hoping to stay at home as I love it here, but of course not without trying to find a way to make money with my hands (as I am attempting to learn crochet) . My mother in law is a very loving person and is very nice to us, when she is upset it is hardly shown, but the things she says leads me to believe that she is serious in wanting us to do more around the house. The problem for me is how to approach her, I don't want to offend her as when she calms down she doesn't mention anything about helping out. I appreciate your comment to me! I hope you have a wonderful day.
1 person likes this
@bayernfan (1430)
• Canada
9 Nov 08
Learning a new skill is a great idea. I'm sure that crochet can be a rewarding activity that can give you a creative outlet while at the same time providing an opportunity to make some money on the side. Perhaps eBay or CraigsList might end up being an important tool to help you make some money from crocheting. You could even post some pics of your work in your myLot profile. Good luck.
• United States
8 Nov 08
I am going to be selling some of my sewing, (cloth diapers mostly) and I have been getting ready for the last year and have started a blog http://preparedforsurvival.blogspot.com where I am sharing some of the ways that I have been getting ready for bad times.
1 person likes this
@gyramary (152)
• Italy
8 Nov 08
that's one of the reasons i'm looking for make some money online. Sell's les needed items? a good idea, but why not on ebay insead of the garage? And anyway, sometimes is good if we can better understand how much money we waste, or wasted, in unneeded items, and how much we can save if we try to remodel our lifestyle into something more easy. If we learn that we can use a cycle to go near, instead of use the car, we will save money, and save also some pollution. Is just we need to get some new good habbit and, i'm sure, our life will be better. And you will see, when higer priced stores will not sell anymore their goods, their prices will go down.
1 person likes this
@xParanoiax (6999)
• United States
9 Nov 08
I'd been searching for an answer to that question before this got into full swing, so I'm fortunate that I'd begun my plan before this started. Mind you, I'm still a kid -- I'm a teenager, and won't officially be an adult til after 2009...so this all was brought into scope by me attempting to plan for my future admidst this uncertainty for the whole nation. =) We traded our old burnt out property (several acres) for this property out in the country (just a little more than an acre) so that we could stop renting and digging a hole under ourselves. This may seem uneven, but the old property was burnt out and we don't have the money to build anew (especially under the rent we were) so...to trade, no money involved, for a house in the country with a decent scrap of land is the best luck we could ask for. Anyway, we just did this recently. Moved in just this past October. As we were moving, I initiated the beginnings of my plan. I began buying seeds. Yeah, that's my plan. To grow food to sell. My family's farming folk, so we've got the knowledge and the skills, and it seemed pretty economical because nearly all the seeds I bought were for a dollar which means I can sell just a tiny bit, make my money back and everything after that will be a profit (which, should the plants flourish...will be a decent chunk). Selling, for example, six big fat tomatos for a buck...that beats pretty much all the stores around here -- can easily compete in the farmer's markets. Food is a recession AND a depression proof job. Some people will, doubtlessly, consider me quite mad considering I've only a little over an acre to work with. But since organic is cheaper for me to maintain, and it'll mostly just be me and my Mom (I've enlisted her help, lol) working this space...it's probably the smartest idea I've ever had in my whole life. The key, in my mind, to a successful business is that once you achieve the ability to compete with others in a horrible economy, by having something people need and can actually afford: is to have a variety. I have tomatos, eggplants, collards, soy beans, corn, green beans, onions, pumpkins, squash, watermelons, lettuce, cucumbers, peppers, blackberries, wolfberries, strawberries, dwarf cavendesh bananas, dandelions, roses, hyssop, lemongrass, catnip, mint...and probably a few other things I've forgotten. Some of these things, as you can imagine, are being grown or started indoors. Quite a few of these, I have more than one kind of. And finally, a couple of these things may take a few years to produce fruit. I'm hoping to get just a couple other things, but I figure this should ensur a pretty decent start. When we were in the city, we already a few of these things and grew the city as well. I'm hoping to be able to sell preserves, pies, flour, candied flowers, soy sauce, etc. In addition to that, I'm also playing with the idea of making things with my hands to sell. Like weaving purses, rugs, pet leashes, etc out of plarn (this depends on whether or not I can purchase some crochet hooks). Maybe making gazebo poles, and musical instruments if I get my hands on some giant reed and can figure out how to grow it without it spreading everywhere. We've offsetted things by selling just regular stuff at flea markets, and turning in cans and scrap at recycling, so I figure we'll just continue to do that, as well. Even though this is considered "thinking small" -- especially in my state where big agriculture's a big thing (no pun intended)...I'm dreaming big. Wish me luck, huh? Strangely, my only worries are about possible setbacks. Not so much about failure, but setbacks. I'm more hopeful, actually, than I have been in a long time because of this idea of mine.
@bayernfan (1430)
• Canada
9 Nov 08
I think that you are a very wise person xParanoiax. Thinking "big" in a recession is oftentimes a recipe for disaster. Sometimes the best strategy is damage control and capital retention. If nothing else, your strategy will provide food for your family and perhaps a few others, allowing for the reduction in at least food expenses. You may no longer have a large parcel of land, but you own what you do have now, which will allow you to build on any successes. Interest rates on borrowed money might be low now, but they have no where to go but up. We have all seen what happens to those with large amounts of debt when interest rates rise or become reset. Owning and living on your property is much better than once having a large home that was recently foreclosed. I shudder to think what will happen to all those people who are swimming in credit card debt. The shoe has yet to drop on those people. Using your skills to create items for sale is a great idea. I watched a business program once that outlined a business that made pet beds for the rich. The material used was a fraction of regular sized beds, but the amount charged was the same for a regular bed. That business was highly profitable. Recycling scrap metal and cans is a good way to make some money and help the environment. I visit the local recyclers often too. Every little bit helps. Setbacks always happen as it is difficult to predict future occurences. You have a solid plan and that is the best guard against setbacks. Be flexible and nimble and be willing to make adjustments so that your overall plan will prevail. I feel that you have much reason to be hopeful and optimistic.
• United States
10 Nov 08
Thanks, ^_^ kinda sounds like you got a better grasp on my idea than I do! Hehe. You're right though, it does mean alot nowadays to have solid ground to stand on. To use a gardening metaphor here: not alot of lovely things can grow where the ground always shakes. I'll try my best. The only way to deal with setbacks is to adapt, usually. I'll take whatever comes and hope it all works out. I don't envy people in severe credit card debt either. All the horror stories alone have made be shun the idea of having credit cards...especially considering how now...the companies seem to be getting more aggressive and the stories of harassment (especially of honest card holders who're not severely in debt) keep seeming to mount. *shudders* I dunno if this is stupid of me, or not...dunno how the future will be and where credit cards will be there, so...*shrugs* I don't envy people who're under any sort of debt, really. There's so many of them. And alot of figures in history have described debt as a form of slavery...and it's just all.. *sad* Anyways, I hope others find reasons to be as hopeful as I tend to feel these days. The world could use a little more hope right now. The part of all this I'm waiting to see is what good, new things come of it. Some of our most successful industries have been born in times of adversity by regular people in their kitchens, backyards, garages. It'll be interesting to see what creative things people come up with, due to the need to adapt to our changing world.
• United States
9 Nov 08
with the way things are going and how we now have less then ever before things will get worse. as prices go up more and moer and the pay does not increase more and more will do what ever it takes to stay alive. this in nature is a primitive thing to do what it takes to survive, but it does not have to be that way. if more people would live by the words of the great good book, then things would not be as they are now.
• China
9 Nov 08
yeah.prices is getting higher and highter save some money=make some money;) buy things we need,not to buy things we want.it works!!! I have been not working for 6monthes now, because i can not work for a full time job because i got a back problems. so i try to find some works on the internet.make some extra income.but my friends tell me there are a lot of scam on the internet,you have to be careful. what to do?I realy want to get some ideas.thanks
@hildas (3031)
9 Nov 08
Yes, times are hard at the moment and I am trying to save money big time. I am running around turning the lights out behind my kids and making them more aware of how much things cost. I have been buying a lot of non-brand foods also. Some of these are really good and I will be buying them forever. I have not been buying clothes or sweets or candy either, I actually put some cookies 'I lifted' back on the shelf as I said to myself "we do not need these". We had two cars on the road, and I just sold one last week to try and cut down on the running costs, as petrol, tax, etc is just beyond it, 'way to expensive here in the UK'. We have managed well so far with one car, and I am not ever having two cars again, unless I win the lottery. I think I have actually been doing quite well stretching my money (or trying too). I have learnt alot too as I was buying things before I did not really need. I hope we all get through this hard time and come out of it ok. I think it has made us all realise that we spend money on a lot of unessesary things.
@hildas (3031)
9 Nov 08
Yes, I feel sorry for a lot of buisnessess right now. How they have stayed in buisness is amazing. Yes It has taught us all a great lesson.
@gemini_rose (16193)
9 Nov 08
We had already made a lot of changes at the beginning of this year before all this started because we wanted to save up for things so when things went bad we were pretty much in a good position. My hubbys place of work is suffering really badly and there have already been two rounds of redundancies made with more to come so my hubby is going to take a course for another job, he has already been offered a job when he passes the course so that is one good thing. I have made lots of cuts and have cleared all the debt that I can do with money that I had saved so our outgoings are as minimal as they can be.
@bayernfan (1430)
• Canada
9 Nov 08
Solid planning and good management allow people to handle any situation whether good or bad. You and your husband are excellent examples gemini_rose. myLot seems to have many solid citizens within it's membership. Clearing all debt and cutting spending is the best thing anyone can do during a recession. You know times are tough when companies start to use words such as "redundancies". I've been hearing that one a lot lately. Thanks for sharing gemini_rose.
@mikeysmom (2092)
• United States
9 Nov 08
we have been struggling financially for a long time already so i know all the things to do to cut back and where to shop and on and on but it is getting worse and worse for us so just holding onto our home is getting to be very stressful. right now i pay the mortgage and taxes first and everything else has to come after that. it is very stressful to live this way but we are doing the very best we can and raising a son so we get up each day and do all we can to make things better for him. i know one thing, we cannot give up or give in.
@bayernfan (1430)
• Canada
9 Nov 08
It's sound like you have the strong will and spirit that will be needed to survive the current hardships mikeysmom. Hunkering down and focusing on necessities first is a tactic that will help you recover from difficult times earlier than others with less foresight. It sounds like you set a good example for your son and he is lucky to have parents with heads solidly on their shoulders. Have you changed the places that you are shopping at to cut back or have you also changed the way you shop as well? Some people have told me that they find themselves shopping online now, although they hadn't before, in order to save on travel expenses. Where are you shopping to find the best prices?
• China
9 Nov 08
yes ,i feel almost each person worry about the recession ,i am a collage student now and i will leave my collage at once to find a job ,but i am a chinese and you may know that there a lots of people in our country ,so it is difficult for me to find a proper job even in usual time ,let alone in the recession .now i feel unhappy facing the bad condition .
@bayernfan (1430)
• Canada
9 Nov 08
dpjddh03556462006, I see on the news frequently that many Chinese factories are shutting down leaving lots of Chinese people quickly and unexpectedly unemployed. This is a very difficult situation to deal with, especially for a recent graduate. There are no easy answers for someone facing such setbacks in a troubling environment. When jobs a scarce and competition is heavy, one needs to be very creative. There will be lots of problems facing many people so, if you can find a way to provide solutions for others, you can use the current hardship as a way to earn some money. Times are tough and fewer companies will be hiring, but some companies will still need help. If you could find a way to assess the abilities of recent grads like yourself and filter out candidates for companies, you could save them time (which always equals money) and provide a valuable paying service at the same time. It will help if you have been active on campus and know many people. Good luck.