“RECESSION”… the big word in every mouth for them who are sufferers and also for them who pretend to show that they are affected. In economics, the term recession generally describes the reduction of a company’s GDP for at least two quarters, a period of reduced economic activity. But directly or indirectly, let it be even in a differential form also, you are certainly affected. But neither am I a Nobel Prize Laureate for Economics nor CFO, hence an insight from an intellectually challenged citizen of this country on YOUR DAILY LIFE IN RECESSION.

Consumer recession behavior:  Sudden humourous changes in the environment and people behavior caused by recession are as follows:

• We all know that markets have slumped so the TRP for business news went up and recession has become a generic topic of every house hold hi-tea who even doesn’t understand the meaning of it.
• People who are non eligible for jobs are thrilled at the news of job-loses in newspapers as they feel proud of not taking up jobs.
• Sales not picking up hence immense amount of window shopping across the malls. Therefore the malls are overcrowded than they used to be.
• Campaigns coming with slugs like ‘Discount during Recession’ and that too during Christmas as if they would not have declared Christmas/ year end sale if markets would have been up.

Dialogues during boom versus dialogues during recession:

Its not that market conditions have changed but even dialogues have changed,
Dialogues when market was boom = Dialogues during recession

• I am looking for a jobswitch with 100 percent hike = I need to keep my job
• Darling which car you want on our anniversary = I need to pay EMIs
• Lets catch up at Barista = I have a family to run
• I need a break to go to Goa = I need to keep working to sustain myself
• I am looking forward to a grade jump = I need to feel secure
• How about going for a team lunch = I need to save a little money for a rainy day

Basic don’t for the recession- a lighter aspect

• Do not take too much vacation, it will lead to salary cuts and also forced by nature you will end up spending money during vacations.
• Do not complain, just ‘observe and absorb’ that’s the mantra when resources are less.
• Do not waste time gossiping, as time is precious therefore pay a lesser price.
• Don’t resist a transfer, as your job is the only log available in this sinking market.
• Don’t resist travel.
• Don’t resist a salary cut, something is better than being penny less.
• Don’t resist extra-work load, as more productivity will save you from getting a pink slip.
• Don’t resist extra time at office if needed
• Don’t change jobs in this market. It is too risky.

Basic Dos- a lighter aspect

• Be punctual to office
• Ensure you pick up new skills
• Ensure you deliver as per deadlines
• Ensure that you contribute to knowledge forums etc.
• Do something innovative
• Take training programs
• Organize team meeting to improve productivity
• Always be engaged & productive
• Work doubly hard and save money for your company
• Be cheerful, keep smiling, life goes on

The manager within you

How to manage your daily expenses is your greatest challenge. Take a stock of your expenses – actually write it down.
Tick “Need to have” vs. “Nice to have”
Knock off all “Nice to have expenses” – don’t forget that love is painful at the end of an affair hence forget what you love, remember the basement of Maslow’s pyramid.
Assuming you didn’t have a job – Plan for cash to survive for 24 months. Apparently, this recession will take atleast 24 months to come out of. Sit on cash!

What can you buy, this recession?

• Buy an asset – buy a house/apartment/land?
• If you have cash and feel secure, this is a great time to buy. You can negotiate hard with builders/developers. Actually, you can write your own terms on the agreement.
• First preference – Buy Land (always buy small sites, it is easier to dispose. Else farm land is a great option – big land, low cost)
• Second preference – Buy House + Land (again buy from known developers)
• Third preference – Buy apartment (you always wanted to buy that 3-bed/4-bed apartment from a reputed builder, but could never afford) – now is the time to ask for free. Some are being sold at ridiculous prices.

Job seekers:

• Enroll in a course / training / education as you are searching for a job. It enhances your skills
• Enroll as a trainee anywhere you get an opportunity. Most trainees end-up getting confirmed employment as a build relationships in the company
• Do not have any preferences regarding – City, Salary, Designation, Location, Shift etc. Just take it and gain experience. It is the first step to a long career
• Go through references of people who are already working.
• During job-interviews – the keyword which employers are looking for is “flexibility”
• Agree for “any place/date/time” to take job interviews. If you don’t somebody else will take that interview slot.

DON’T WORRY, BE HAPPY !!!
The new principle of happiness during recession
“Happiness is inversely proportional to expectations and desires”.
More the expectations / desires – lesser the happiness and vice versa

Some other ways to live a great life during recession:

• Spend time with family – go for a picnic in a nearby garden, which is cost effective.
• Exercise and walk a lot, drink lots of water, this will protect you from hyper-tension
• Listen to Radio, watch TV instead of going to multiplexes.
• Visit Libraries, read books which you purchased, but never had a chance to open them.
• Go to friends place a for a dinner but don forget to remind them the previous night that you have a lunch party somewhere hence they should not make too many dishes.
• Enroll into a hobby – music, painting, film library, etc instead of expensive club memberships.
• Do social service – start teaching, mentoring etc, this will inspire the feel good factor.
• Spend more time with your children, this is the best time when you can replace their expensive toys with your affectionate presence.
• Join laughter forum, attend conferences and meet interesting people, as laughter reduces the risk of diseases and networking brings business prospects

P.S. “The Editor would like to thank the valuable contribution of the original author  whose immense efforts are appreciated by one and all.”

Source: http://www.ciol.com/community/blogs/business-environment/archive/2008/12/19/daily-life-in-recession-the-lighter-side.aspx

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