Does "Recession" affecting you?

@sudhibus (100)
Kuwait
December 10, 2008 12:13am CST
Nowadays we hear a lot about recession in the global economy through media. If the crisis persist long, the economy will collapse. Ofcourse there is recession, does this actually affecting you? If not as a precaution what all can we do?
6 responses
@spalladino (17927)
• United States
10 Dec 08
yes, it's affecting me in that my position was eliminated so I lost my job. I'm receiving unemployment but it's not as much as I was earning so our finances are a little tight right now. At least the price of gas has gone down and the price of food stopped going up as a result. For the first time we had a budget for our Christmas spending but I'm almost done and still have some money in the budget.
@sudhibus (100)
• Kuwait
10 Dec 08
oh... Dont worry dear friend, everything will be ok. May this Christmas bring you a new job with a good salary of your expectations. Since I dont have a job at present and living under the care of my Uncle, am n't affected. But I cannot go long like this, I should find a job. All my applications are failing now.May be because of this recession
• India
9 Mar 10
YES everyone's opinion going to be the same as recession is effecting us. The government is doing nothing about it so there is a chance of economy crisis as no one is coming forward to put an end!. Still people are losing jobs. It effect me a lot as i am not getting job there is no vacancy in my filed this putting me into a great stress as sitting home an doing nothing is very frustrating. But i don't think that its going to be ended soon.
• United States
2 Mar 10
The economy has a bad effect on my husband and I. We just got our tax return check and most of it is already spent. We have so many bills to catch up on (power, phone and Internet). We also need to get the car fixed. We are getting assistance for food which has helped us out. I am worried about my husband and I are going broke. I am also thinking about opening a savings account and keeping a few bucks in the bank. I am looking for ways to make extra money online so I can save.
• China
4 May 09
Yes of course and i lost my job two months ago.I am in shanghai China.And here it 's quite hard to get a new job becuase there are too many people with college degree lost their jobs.
• Philippines
11 Dec 08
yeah, it affects me. i'm working outside US but our clients are americans and because of the economy's downfall, we are losing our clients and i just heard this news that there's a possibility that our company will be closing soon. it's a really bad time considering that it's the holiday season nowadays. now, i have to consider looking for another job. it's really hard. i'm hoping that this recession thing will soon come to an end.
@HOW2DO (226)
• India
10 Dec 08
Yes I already felt the impact on my life.Everything is reducing our wealth stock prices declines.Many of my friends lost their job's.As recession continues,you may benefit from lower interest rates and tax cuts,which are applied to everyone.Normally,This would help you refinance or get a better mortage.However,lenders have become more stringent about credit standards. Anyway it is very hard to live without a good salary.