Recessions are defined as 6 months of economic decline(measured in the country’s gross domestic product – GDP). It is normally announced after the fact. Economic declines can be country-wide, state-wide, or localized to a region. Sometimes, it is industry-specific also. Over the years, the US has undergone about 50 recessions lasting from 6 months to
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Hard Times is defined as a period of economic problems or a time of difficulty, especially financial hardship. It can be caused by two broad sets of events. Economic Hard Times (country’s / state’s / local region’s) Personal Hard Times 1. Economic Hard Times: Our weather goes through a cyclical pattern like summer, fall, winter,
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Simple living is one of the essential qualities needed to survive economical hard times. Simple living does not mean deprivation or voluntary suffering. In the context of Breadnomics, we will take simple living as being careful with our money, focusing on what truly matters in our lives. We have seen many Hollywood and sports personalities
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Having multiple streams of income is essential to go through economical or personal storms. What it means is, even if we have a good job, we should develop additional streams of income to survive and thrive in hard times. This article is intended to give some ideas to enable it. An income stream can be
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All of us go through hard times in our lives, either due to our country’s economical downturns or due to personal issues. Nobody is an exception to them. All we can do is incorporate few fundamental changes in our lives to minimize the hardships. Let us see where we are with earning and managing our
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