Archive for recession
If You Didn’t Prepare For This Recession – Prepare for the Next One
Posted by: | CommentsThere are so many posts out there about ‘How to Survive the Recession’. I find them so annoying. Here’s the reality: there’s nothing you can do if you haven’t been preparing for a rainy day. Kissing up to the boss and working OT isn’t going to save you now.
Instead use any problems you’re having as a learning experience for next time. As I’ve mentioned a ton of times, aim to start contracting and get a high rate in a niche as I explain in my ebook. Make sure you are saving money – forget 10%, I aim for 75%. I only spent a few thousand per month and the rest is saved. It’s really that simple, but it’s not really possible as an employee. Even managers making $150K will have a hard time after all the tax deductions, and government programs (like EI and CPP in Canada).
Having savings and paying off debt does so many things, even ones that are intangible. Like giving you confidence to negotiate an hourly rate, reducing fear of losing your job and so on.
Tell yourself ‘Never again’ and start preparing for the next downturn. Because there will be one.
Achieving Wealth in Uncertain Economic Times
Posted by: | CommentsHere’s an interview with me and Stuart Crawford of IT Matters on being a wealthy IT Professional in these uncertain times, and some specific steps you can take to be successful. Notice I don’t say ’surviving in uncertain times’, but being wealthy. It’s all about attitude baby!
What to do in a Recession
Posted by: | CommentsAnita Campbell writes in her excellent blog post Why A Positive Mental Attitude Matters During Recession about the attitude to take in a recession. She mentions that Warren Buffett says the US is in a recession. She suggests we focus on what we can control rather than macro-economic conditions. I couldn’t agree more.
if you’ve read my blog and reports/e-books you will understand that the most important thing you can do to be successful is change your attitude. I believe there are 2 basically belief systems out there. One is ‘The world happens to me’ and the other is ‘I create my world’. People with the first belief system say ‘Companies aren’t hiring’, ‘Employers only give cost of living raises’, ‘I’ve heard I need 10 years of experience to be a consultant’ and so on. People with the latter belief say ‘I don’t accept standard salary guidelines or pay rates dictated by employers and on job boards’, ‘There’s lot of work out there if you know where to look’, ‘I take full responsibility for my career success’.
So spend less time worrying about the recession and more time developing your skills, attitude and network.
