Tag Archives: Consumer

Don’t Stop Spending!

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A call for persons to spend more might seem like very strange advice for a financial coach to give in these challenging economic times. The typical recommendation for weathering this tough economy is to cut back on consumption by buying only the basic necessities and channeling as much money as possible into savings.

First, let me qualify my comments by indicating that my discussion on the merit of spending is not intended for persons who are in unmanageable debt or unable to make ends meet. If you are in that position (as too many of us are) then you need to focus your attention on aggressively reducing your liabilities and earning more money to cover your budgetary needs.

However, a fear of all the gloom and doom surrounding the global recession has prompted some consumers who are financially capable of maintaining their normal buying habits, to choose to keep their money close to home instead. Continue reading Don’t Stop Spending! →

Surviving and Succeeding in Business

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Many persons have decided to cut back on their discretionary spending due to declining consumer confidence, job losses, and general uncertainty about the financial future. This tightening of the purse strings has left several business owners in a quandary, as they contemplate how they will survive if their customers stop buying.

In light of the various challenges that small operators face even in good times, is it realistic for them to hope that they can weather this economic storm? Is it actually possible that they could come out ahead of the game when normality returns?

In nature, where survival of the fittest is the rule, living species have to adjust and alter their actions, and even improve their genetic makeup, in order to continue existing. In the same way, businesses must have the flexibility to adapt to this new, challenging environment if they are going to survive. Continue reading Surviving and Succeeding in Business →