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Making a my budget work for global recession

November 16th, 2008 at 01:23 am

Well I just did my 2nd last monthly tracking budget for this year, so its time to start making my next budget work for global recession. Being on an age pension puts me in the poverty level but I am not there in the true sense of that word. I can still live on what I am getting but I do have to make choices on what I can and cant do with it. Over next few weeks I will be working on my next annual budget for these troubling times.

My first thoughts are to get all my last year bills and expenses and add about 20% on to them as we here will be hit with a carbon tax on everyone so everything will be going up in price I will be better off if allow a large amount than keep change the amount as I go along.

Why I think every bill will be hit with a carbon tax?
Each business will be charges a carbon tax at different rates then will past that carbon tax down the line in the end to the each consumer.

Then you have credit shortage.
On top of that as credit is short owing to global recession some businesses will fold and other will start adding extra charges to their bills to get money in quicker. Like some are doing now but on much larger scale, pay in X days you will get a discount or after so many days will start charging you interest of what is still owing even if they havent sent you your bill but still in the pipeline. Fees for using credit card or debit card payments but this is the only way you can pay that bill.

How to beat them at they own game!
So you have to read ALL the fine print on each bill and service so you do not end up spending more than you dont have too! You need to shop around for the best deals and if you can change then do so.



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