How We Can Beat The Recession
The financial crisis is affecting us all. By this I don’t just mean as individuals. We are being affected as a global society. When individuals stop buying goods at their local shop it is not only the shopkeeper that suffers; suppliers and manufacturers lose out, and then Government revenue drops, cutting off public services for you and me.

“To put it bluntly, this year we are facing a period of above target inflation and a marked slowdown in growth” Mervyn King, Governor, Bank of England

But we can all help ourselves, and each other, by having a good look at our income and outgoings and making changes where necessary.
Saving Money
The first thing that we all need to do is find ways to raise our disposable income, as this will allow us to spend more in order to help to bolster the economy.


The easiest way to do this is to look at your financials and bills, to see if you are getting the best possible deal. If you can reduce your utility bills, mortgage payments and bank charges you can very quickly see a good improvement in your day to day disposable finance. In order to do this their are a number of consumer issues sites that will tell you if you can get a better deal by switching provider. My own favourite in the UK is which.co.uk, a site that gives an unbiased view of all manner of consumer products from mortgages to barbecues.

In the current climate financial institutions are falling over themselves to get your business, and will most likely provide you with an improved deal on what you are currently paying. Insurance providers are fighting amongst themselves to get your business, and comparison sites like uswitch.com can show you how much you could save by changing your policies.

Credit Card debt in the UK is increasing rapidly, with the average consumer owing over £3000 in unsecured debt. One way to improve your cash situation is to switch your card to a provider who is offering 0% on balance transfers so you immediately avoid the large interest rates on your existing debt.

Changing your utility provider is another good way to reduce your bills. Again take a look at consumer and comparison sites to see who will offer you the best deal. Always check both types of site as a number of comparison sites are affiliated with certain providers, so may not show you the best available deal.

But when it comes to utilities, the best way to save money is to save energy. Their are a number of simple things you can do that will reduce your energy bills:

Never leave electrical equipment on standby, and don’t leave appliances charging when not needed
Change your lightbulbs to energy efficient ones, and turn off lights when leaving the room
Only put the water on to heat when it is required
Reduce your thermostat by a couple of degrees, and wear a jumper when chilly
Wash clothes at lower temperatures, and at economy time (midnight to 7am)
Make sure your home is properly insulated and double-glazed
These are simple ideas to implement, and if you look around the web you will find a number of other ideas to help you save money.
Make A Little Extra Cash
Taking the odd shift at your local pub or corner shop may seem like a nightmare when you have been working all week, but an extra £30 a week in your pocket will help you to do your bit for the wider economy.

If this is not for you then their are a number of ways to make a little bit extra whilst you are online. Most of you will know about Google Adsense and other advertising products. These allow you to make a little extra cash by posting advertising on your website. Even a simple blog can generate a small residual income from advertising.

As we have all seen, their are a number of people claiming that you can make thousands from these systems but this is not the case unless you have a large number of sites (200+). Most of these are scams that charge you for information that you can find for free. But their are sites available that tell you which work and which don’t.
Spending Your Extra Money
Once you have found that little extra cash in your pocket, it is important that you spend it. It is tempting to save it, but this is not the way to come out of a recession.

Firstly I would suggest that you start to reduce your debts. Paying off some of your credit card debt will reduce your interest payments further and provide you with even more spare cash.


You can then use this cash to purchase goods. Personally I suggest that you purchase goods and services from local providers. The best way for us all to boost the global economy is to help our local economy. Local providers are much more likely to purchase their goods from local manufacturers, so all the money that you spend will stay within the local economy rather than farther afield. If we all do this then each local economy picks up and feeds into the wider economy.