When the economy takes a downturn, everyone suffers – or do they?
Savvy entrepreneurs look for opportunities to capitalize on areas that other people might ignore. Instead of hunkering down to weather the bad news, they study the market identifying potential areas that are ripe for development. Probably the best example of this comes from the Great Depression. During that difficult time for the U.S., more millionaires were made than at any other time in history.
The Great Depression began for a number of reasons. A big factor was too much credit being extended to businesses and individuals, which pushed the overall debt load above the available cash reserves. The credit debacle reached a critical mass and the market crashed in 1929. Companies closed leaving over-extended employees with no income. Since they now were unemployed, the workers could no longer afford to pay their debts. And so it spiraled.
But not for everyone. Those who saved their money, who didn’t jump on to the credit bandwagon made out like bandits. They could take advantage of the low cost of purchasing and buy or create new businesses. When the U.S. entered World War 2, their wealth increased because they were able to move into markets that served the war effort.
The lesson for all of us isn’t that credit is bad, but it must be used and obtained wisely. The second lesson? Always save for a rainy day. You just don’t know what opportunities might come your way.
There’s a third lesson, and it’s probably the most important. These people didn’t wait around for someone to tell them what to do. By having liquid capital, they were able to invest in themselves and live life on their terms.
At Glitterbug Gold Parties, we invite you to invest in yourself. The business has a low start-up cost and the rewards are great. The Great Depression hasn’t been repeated, but we are most certainly in a recession. Unemployment is high, the cost of living is high and families are struggling just to survive. It doesn’t have to be this way. Consider investing in your future by checking out Glitterbug today.
