let's talk about global crisis

my professor in entrepreneurship for family business was absent when classes resumed last week. but yesterday, he was back and brought with him more sad stories about the global crisis.

the situation is getting worse, he said. and more and more workers are getting laid off by companies in the electronic industry. worse, he added the situation may stay until year 2012, and the Philippines won't be spared from it. he said that countries, especially developing countries, whose economies are export-oriented and highly dependent on US's and Japan's would likely be the most affected. what keeps me in high spirit, though, is the 'gold' underneath the 'rubble.'

people in the business sector, or those who plan of putting up a business he said are lucky. `you are all on the right path,' he said, encouraging us to tread on with our plans even if the future is bleak. `you are the key to the country's economic development who can eventually help alleviate poverty in this nation.'

i remain hopeful that we can survive this crisis. and here are some tips to cut on spending:

spend only on basic needs; list down those that are needed and write off those that are not; refrain from watching movies;just watch reruns on cable TV; cut down on luxury items; buy items on sale but choose those with good qualities; drink water instead of soda or fruit juices when you are out for lunch. better yet, bring your own 'baon;' turn off appliances when they are not in use; turn off the fan and air con when you sleep at night (since December, the weather has gotten colder); commute instead of driving your car or taking a cab (esp. if you're going somewhere that requires driving in a short distance); instead of eating out, just cook meals at home during weekends; save, save, save. 5-peso a day won't hurt; and lastly, plan your business now, and put it up when the timing is better.

hope i was able to help you pull through during these hard days. good luck!