Is the financial woe of the world affecting you?
By bluemars
@bluemars (952)
Australia
March 30, 2009 9:30pm CST
There are so many people being affected including businesses. I heard recently some businesses just closing up and disappearing even when they owed money to other businesses. But also there are people who are putting themselves on a budget to deal with these hard times. Is economic situation affecting you and what are you doing to lessen the burden?
2 responses
@angelachristine24 (22)
• Philippines
31 Mar 09
Yes, my family is really affected with this. Even if we are not living in America, the whole world's economy just depends so much to the value of dollars. The devaluation of this currency affects a lot of importation business forcing them to increase their selling price. But parallel to this is the decreasing power of end consumers to buy goods and if there is nobody wants to buy goods it may result for lower sale and closure of business and loss of thousand jobs. Right now, our company is doing everything to survive this problem... we had cut down a lot of benefits just to sustain our operations and retain our manpower. It may not look good but the intention is to not let anyone of us loss our jobs. I just hope this crisis which America started be over before this year ends.
@bluemars (952)
• Australia
31 Mar 09
I was speaking to someone who works for a company in the local area and they deal with the incoming and outgoing of payments and she called a few places but some had just disappeared. She started to get a few with no telephone line anymore. She could not believe how many businesses were being affected. Then in a matter of a month or two her company started its own re-structuring and had closed some of its offices.
@jaded22 (828)
• Philippines
31 Mar 09
Consciously or unconsciously, I think its affecting all of us.
As a matter of fact, my parents have credit card issues right now. Yes, they are able to pay it, but they work doubly hard just to earn that amount. XD
I have saved a good amount of money before my contract got terminated at the previous company I was working for.. So yeah, save as much as possible in order to lessen the burden.
1 person likes this
@bluemars (952)
• Australia
31 Mar 09
I know so many people with credit card problems. I don't have one at the moment and I think that is a great way to not be sucked into its temptations. I know what you mean about the whole working harder to pay for the debt of it all. It really is better to just save for the purchases you can then afford and also not pay extra on top like with the high interest on those credit cards.
