Trying times spark innovation
Payday loans can provide a ray of sunshine for someone in a financial bind. With all the doom and gloom being reported about the economy, I’ve been searching for some sunshine amid the country’s financial crisis.
Earlier I reported on industries that are doing well despite the shrinking economy. Now I have hunted down some more good news. An article from U.S. News and World Report names “9 Reasons This Recession Will Be Good.” I’ve chosen a few of my favorites to share.
Most people who find themselves without work search for a new job while they collect unemployment benefits. But some, like Suleman Ali, go into business for themselves.
Ali left his job voluntarily, and with his newfound free time he began developing Facebook applications. Long story short, Ali is a millionaire now. Creative, intelligent people with time on their hands will eventually tire of playing video games, and who knows what will happen then? Layoffs can spark new products, businesses and creative solutions to economic troubles.
Downturn in traffic
As airlines hike up their rates and consumers try to save money on gas, congestion in airports and highways is easing. Many people are flying less and driving less. Positive side effects include quicker trips through check-in and security at the airport, shorter commutes and lower gas prices.
Also, the rising popularity of online payday loans is eliminating a lot of trips to the payday loan store and the bank.
Unexpected opportunities
Yes, it’s true that the economy will get worse before it gets better. But when the economy does begin to grow again, new opportunities will materialize for those who lost their jobs or took jobs that paid less than they were worth.
While the headlines are still covering the recession, new jobs will start to pop up as the economy grows little by little. People seeking opportunities to improve their lives will find them, if they are diligent.
What doesn’t kill you makes you stronger
We all heard that tough times build character. Recession is a good example of that. Americans are spending smarter, saving more and in general toughening up.
Just as the Great Depression taught people in that era to be frugal, save money and avoid excess, consumers will emerge from this recession with better habits.
You know what happens when you assume …
In the spirit of learning from our mistakes, here are some tidbits from usnews.com on what NOT to assume in the coming year.
Many optimistic Americans believe that Barack Obama is the answer to all of the country’s financial woes. Obama’s stimulus plan will provide more jobs and a little extra cash on payday. Experts say this will keep the economy from shrinking more, but it will take some time before home prices bottom out and employers start hiring instead of firing.
Lower gas prices have been a big relief in American households. But prediction what direction fuel prices will go in the future is risky at best. With lower gas prices drivers will start to hit the road more, and when the economy does begin to turn around and people can afford to pay $4 a gallon again, who knows what will happen. Bottom line: You might want to reconsider purchasing that SUV.
Until the economy heals, payday loans will be there to help during hard times, and I’ll keep searching for sunshine to spread during these dark days.
The economy is going to get a little worse before it will get better, but it will get better. Whether there is another stimulus check that we all get, or less taken out of our paycheck, there are some larger problems that are just going to take some time to fix before everything gets back completely on track, and unemployment and housing are two of the largest areas of concern.
Very informative article and insightful with respect to “Unexpected Opportunities’. I live in an area where many, many people lost jobs almost 7 years ago. There was such an uproar and all the ‘chicken littles’ were claiming the sky would fall. We came through that period, jobs were created and our economy really thrived. Thanks for a good article.