How Has The Economy Affected You?

by Mike on October 29, 2008
in Making Money Online

As financial markets around the world continue to go up and down like a yo-yo, a lot of people are scared.  Companies everywhere are laying off employees, freezing open positions, and cutting back any way they can…including salary increases and bonuses. 

I personally know a lot of people with hefty mortgages who are worried they could be out on the street if they lost their job (or if their cost of living continues to skyrocket while their salary remains the same).  They feel like they’re on a wild roller coaster ride that has gone out of control.

This lack of control is one of the primary reasons I started my own business to make money online.  The thought of being completely reliant on the whims of some faceless corporation scares the hell out of me.  I need to know that if times are tough I can fend for myself. 

That said, a lot of internet marketers are feeling a crunch too as consumers are less willing to open their wallets to buy new products and services.  Advertisers too may scale back spending which could hurt those that rely on AdSense or blog ad space for income. 

A lot depends on the niche…I think in general the “make money online” niche will continue to do well as millions of people looking to make extra money to supplement their income flood the internet.  Other niches will be less fortunate.  For some of my niche websites the last month has seen a drop in conversions that I suspect has a lot to do with the health of the economy. 

What about you?  What kind of effects have you seen?  And what do you see for your future?


11 Responses to “How Has The Economy Affected You?”
  1. Bruno Auger (5 comments.) says:

    Only thing that effecting me is my stocks. All the resouce based stocks are taking a shit kicking and are at a all time low.
    They are pretty much at the bottom of the barrel now. I guess its and excellent time to buy stock if you have the cash.

    Bruno Augers last blog post..Search Enigine Optimization Markets

  2. samantha (1 comments.) says:

    The main thing that is affecting me is the dodgy exchange rates. I live between portugal and england and when im withdrawing cash in the algarve i cant quite believe the dodgy exchange rates that i’m getting.

    never mind after all its a lot cheaper out here. you can still do a family of 3 weekly shop with change from £50 i dont think you could do that in Tesco’s anymore!


  3. Kenneth (2 comments.) says:

    This has been a wild ride. But I must say that as long as people are solving problems for people who are desperately looking for a solution too… they will have no problems selling, and making money from home.

  4. Om (6 comments.) says:

    Well, honestly I am not in the state of mind to say anything regarding this. Right from the basic stuff, to the financial planning, every thing is haywire. Leaving me with a feeling of insecurity and hopelessness that will take time to recover.

  5. Steve (4 comments.) says:

    My retirement savings plan has taken quite a large hit in the last little while. But since I am only in my 30’s I should have plenty of time to recover.

    As far as the online stuff goes I have seen nothing but increase. The Canadian dollar has been dropping pretty quickly and that is great for my adsense exchange rate.

    I am in a very active niche and I don’t expect that to slow down anytime soon.(hopefully anyway)


    healthy weight losss last blog post..Sell Your McDonalds Stock

  6. Simon (5 comments.) says:

    The only thing I have noticed so far is the price of milkshakes has increased from a cafe I go to every week because it costs so much more to import now

    Simons last blog post..How To Run An Effective Case Study

  7. Article Submit (2 comments.) says:

    I have seen an influx of new customers! What we are seeing is more money coming out of mainstream and into the internet where it is tractable.

  8. Tom - Entrepreneur Interview (4 comments.) says:

    It hasn’t really affected me at all, apart from my small amount of superannuation going down about 10%.

  9. Frostfire Gifts (8 comments.) says:

    I am in the Uk and there is not a person who it has not affected, whether it be in sales, exchange rates, stock markets, banks etc..

  10. Jason Fulton (19 comments.) says:

    So far i have survived the credit crunch, with my line of work not affected. Things online have remained the same.

  11. Jeff Scott (5 comments.) says:

    I think a lot of companies jump on the bandwagon and use it as an excuse to cull staff.

    Jeff Scotts last blog post..Easily forget

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