The recession is inevitable. Will it happen this year or next year we are not sure, but it is coming. As most of us tighten our purse strings and find ways to cut back, there are a handful of companies that do well.
Thrift / Consignment Stores
Although this may be necessary, often people find joy in the deal. Designer something for next to nothing. When it comes to cutting back, its the extras, like clothes shopping that gets cut back.
Try Thrifting or surfing the local consignment stores. Go early, check out the “discounted days” for the best deals.
Temp Staffing Agency
I can expertly speak about this one. For 16 years I owned a staffing agency in Phoenix and lived through the recession of 2007-2008. Although we didn’t bounce right back, we did ultimately recover. My clients said it was simply they needed staff but were unable to hire full-time permanent employees. So while they were building their companies back to prerecession strength, they used “on-call temps” to fill in for those days their companies need extra help. It worked well for everyone. We then were able to help them find permanent staff when they were ready, or they chose one of the on-call temps to hire. Its a win for all.
So many do DIY projects because they love it. It is a hobby to many and its fun and rewarding. If you are handy and have a place to make simple things like a custom toybox you can save big.
Discount Retail Stores/Dollar Store
Dollar Store does extremely well during economic downturns. Most people will make a special trip to save a few dollars. Not only do have many of the conveniences of a more expensive store, but you can find some deals on food such as canned goods. Its also a great place to stock up on cleaners, paper products, and holiday decorations.
As always, if you know anyone that could benefit from these savings, share with them using the buttons below.