Tag Archives: Unemployment

Is This The Right Time To Start A Business?

Business Success, , , , , , , ,

“I’ve been thinking about starting my own business, but I’m nervous about the current economic climate. Is it advisable to begin a business in the middle of a recession? Are there any industries that might be less vulnerable at this time?”

It’s understandable for people to disbelieve the financial pundits who declare that crises can bring tremendous possibilities for new businesses. Prospective entrepreneurs might think, “Easier said than done,” as they are encouraged to look for business opportunities that have been created by the recession.

With consumers cutting back on spending, large corporations laying off workers and governments facing economic hardships, how can it be feasible for a small operation to navigate these turbulent times and create a solid foundation for success? Continue reading Is This The Right Time To Start A Business? →

Time is of the Essence!

Money & Your Mind, , , , , ,

One of the realities of our current economic climate is that we are now forced to do more with fewer resources at our disposal. While our income loses value every month, our expenses grow almost exponentially. Layoffs and job work-hour cuts are reducing the size of the workforce, yet employees are being asked to produce more in less time.

As we continue to grapple with the financial challenges that this year will bring, it becomes even more crucial to manage the precious resource of our time. I often comfort my clients by explaining that they can always recreate lost wealth; but I can’t give the same guarantee about time because it’s not a renewable resource.

Many of us approach time as if it were an hourglass that will replenish itself with sand once we turn the instrument upside down. The reality is that once we use up all the seconds, minutes and hours in a day, we will never see them again. Continue reading Time is of the Essence! →

Balancing Boomerang Kids

Kids & Money, , , , , , , ,

Twenty-nine-year-old Robert was confident that his MBA in finance would secure him a solid career and a comfortable future. After getting laid off from his enviable position at a top financial institution, he found it difficult to replace his income and had to accept a job with a 50 per cent pay cut.

Unable to afford his rent and faced with mounting unpaid bills, Robert had no choice but to move back home with his mother.

Susan, a 46-year-old divorcee, had very little to fall back on after her husband of 25 years left her. She had not worked for a long time and was desperate without a place to call home. With no children, the only place she could turn to for help was her elderly parents.

Despite her best efforts, Susan has been unsuccessful in obtaining a job and feels frustrated about being dependent on her parents for survival. Continue reading Balancing Boomerang Kids →