We have heard on many occasions that Bigger is Better in relation to various aspects of life. However, when it comes to managing your money in this economy the opposite is true.
Cost is related to the value of an item and in most circumstances the larger the item the higher the price and also the cost of maintenance. Here are a few examples:-
Are you supersizing or minimising?
- A smaller vehicle burns less gas and around the world consumers are changing their cars for smaller and more efficient models
- A smaller home uses less electricity and most times the Purchase price is less than larger homes. Some families have even made decisions to sell their larger properties and have invested in smaller, and more energy efficient homes.
- Shoppers are purchasing lower priced and more affordable items. The Wal-Mart success story is proof of this type of purchasing.
- Reducing your annual expense budgets will guarantee survival throughout this recession which may last for at least 2 more years
- Entertaining in smaller groups will be more affordable and becomes more intimate therefore building great relationships.
- Eating small nutritious meals on a more frequent basis contributes to good health and prevents wastage.
There are many more examples but I will let your imagination and experience add to the list…
Do you have the discipline to survive the recession?
Experts are predicting a major deterioration in the economies of the Euro Zone. Recessions develop from time to time as a result of progress. We need to protect our finances by developing a culture of financial discipline and awareness that will shield us from these economic challenges.