Monday, 27 October 2008

Monthly Contract Mobile Phone

If credit crunch survival is important to you, have you asked yourself do you really need a monthly contract mobile/cell phone?

Here in the UK the mobile phone market competition is very fierce especially with the economic down turn and the credit crunch hitting so hard, and the mobile phone networks are always indroducing new packages to entice new customers and retain old ones, so you will never be short of finding a deal that would be good for you! But the question still remains, do you need a monthly phone contract?

Many people have more than one mobile/cell phone, and while we cry that the credit crunch is hitting hard, yet we do little to actually survive these hard times! We are so used to have those 1000 minutes or free time, that we would dare not think of changing our tarrif plan even if we are having difficulties paying other bills! Or maybe it is the lure of the latest mobile phone that we can get as a free upgrade if we continue with that monthly phone contract. The only people gaining during this credit crunch from you continually being on a monthly phone contract are the sales guys and the mobile phone network executives. While you cry about credit crunch survival, they continue to line their pockets with your money.

So do you need a monthly mobile phone contract or more than one mobile phone?

Once upon a time, the only people who could afford a mobile phone where business executives, they cost a furtune to buy, then you had the monthly line rental, and then there were the individual phone call charges. So what has all this to do with credit crunch survival?

The current ratio of mobile phone to users in the UK is 2 to 1, with many having 2 monthly contract mobile phones, and they have trained themselves to believe that they can't survive without these mobile phones, yet many are in debt with credit card bills, loans, utility services not being paid for, and yet they wonder how can I survive. There is a saying that 'every little helps'. If you calculate how much you spend yearly on mobile phone calls, you'd be surprised how much money is being thrown down the drain! We are so used to mobile phones, that someone of us forget that most landline phones can not get free UK landline calls for your current monthly package.

If credit crunch survival is important to you, consider can I use a pay as you go phone instead of a pay montly phone, you might find out that just thinking about the cost of each call would reduce the number of calls you make. If you have a home phone that has free UK landline calls, then why not use it more especially in the evening when your friends family should be home?

A little inconvienience of not being able to make a call immediately is well worth being able to sleep at night and not having to worry about a creditor calling you in the morning. You don't need to bow to peer pressure and buy a new mobile phone with contract when you know you'll have to go into credit and possiblly not be able to afford in in the long run.

Maybe you can get rid of one of your mobile phones as part of your credit crunch survival plan, after all you still have one mobile phone and a home phone that you could still use.

Sometimes you have to give up somethings that you think are important or suffer a little inconvienience to get yourself out of credit debt.

What is your credit survival plan?

Tuesday, 30 September 2008

Multiple Income Streams

Credit Crunch Survival Tip

One of the best ways of surviving an economic down turn seems to be have multiple streams of income. As the saying goes, don't keep all your eggs in one basket.

I'm lucky in the sense that I have a few skills which I can turn to for income, and while my main skills are in the computer industry, I also have hobbies in Video and Photography, plus driving skills which I can also call upon to generate income that helps with surviving the credit crunch.

Just as debt crips on you little by little and 50 cents here, one dollar there all adds up, so that extra 50 dollars a month can make a difference during this credit crunching time we are going through.

No one know how long this credit crunch time or economic downturn is going to last, and while a lot of people will be wondering how they will survive, there are people out there who are looking for ways to actually capitalise on the situation, and make some serious money.

What other streams of income do you think are available to you to enable you to survive the credit crunch?

Tuesday, 16 September 2008

Credit Crunch Kills Lehman Brothers

Lehman Brothers Files chapter 11 Bankruptcy

Lehman Brothers one of the oldest banks in the US has fallen to the current credit crunch, and filled a chapter 11 bankruptcy petition.

Here in the UK, there is uncertaintity for over 4,000 employees who now face being left on the dole.

Tuesday, 10 June 2008

Surviving the Credit Crunch

The credit crunch is biting hard globally and the cost of living is rising everyday. I have decided that I'm going to keep an online journal of how I'm trying to keep my head above the waters in this climate of economic woes.

Being employed does not necessarily mean that I'm safe from the credit crunch, and with the uncertainties that goes with job nowadays, I'm starting to think of ways to earn a living apart from the daily 9 - 5 rat race.

I don't have a magic solution that will solve all my money problems, but I will be sharing whatever I discover here and hopefully will come out in a couple of months financially stable without having adversely suffered from the present global credit crunch, and maybe even end up debt free.