It’s great to see our government doing things to protect our savings accounts and stimulating the economy with bonuses to various sectors, but I still believe we’re in for tough times ahead. I remember the “recesssion we had to have” back in the 90’s, this was just Australia. What concerns me is that this latest crisis is global and we haven’t seen it before.

I mix in lots of different circles including small business owners, large business owners, financial advisors, doctors, IT professionals, teachers, admin staff, single parents… the messages are very mixed. Some of them are “cashing in” and selling their homes and moving to rentals, others are taking on major property development projects.

So, where does this leave us? As you may have read in a blog of mine a few weeks ago I think we need to get back to being frugal. No more “keeping up with Jones’s”. It’s time to tighten the belt and hang on to your job. I would also highly recommend that you put any bonus payments from the government directly onto your debt!

Have a look at www.secretbudget.net for great ways to save money, be frugal, budgeting tools etc… We’re here to help! If you have any questions or would like us to have more info available on the site, please let us know at info@secretbudget.net

I would love your comments on the situation, especially my readers in the US and UK!

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