Employees were alerted to the strategy for merchandising via an internal memo earlier this month. Bill Simon, CEO, created four core areas in the merchandising department including general merchandise, food, softlines and consumables, and health and wellness. The change is said to make each customer channel even more competitive, allowing the retailer to improve how they ‘target and localize merchandise’.

Some investors were surprised at the move in light of declining same-store sales in the US for five consecutive quarters. The declining trend is predicted to continue in the third quarter. The decision is said to emphasize the theory that Walmart is focusing on prices instead of trying to overhaul its strategies completely.

Over the summer, Walmart tried boosting its sales with aggressive rollbacks on store prices. The company has said the move did not produce the results they were hoping to achieve. The economy was noted as a factor for consumers who were not inclined to spend even with big discounts.

Walmart (NYSE:WMT) Holds Off on Hiring Head of Merchandise Position was created by and is property of American Consumer News.

“This recovery, unlike previous recoveries, is going to have a little bit of the consumer, but it’s going to have to have a lot more business investment,” Immelt stated today. While there is still a push for consumers to pick up the slack and keep spending to get the country back on track, he believes that businesses are what will make the difference. The CEO believes that while GE has taken a hit in the areas of credit cards, commercial real estate, and mortgages, their industrial business will help the company bounce back and recover from the worst recession in US history since the Great Depression.

General Electric, the largest conglomerate in the United States is planning to put action behind that theory with plans to add jobs to the US market in the next few months. The company also plans to increase its dividend in line with earnings growth. Immelt made his statements to the press prior to the annual shareholders meeting in Houston, TX where General Electric maintains substantial natural gas and oil industry operations in the area. Immelt told investors during the gathering “The clouds are breaking and the forecast ahead of us is promising,”

General Electric, based in Fairfield, Connecticut, is optimistic about the economy as well as their profit growth, even after profits for the company have fallen for nine consecutive quarters when the credit problems and the recession in the US damaged GE’s operations. The company cut the dividend 68% during the recent credit crisis but expects to see profits resume next year. Investors were told at the meeting to expect flat earnings this year.

The company also has priorities on the plan to buy back preferred shares they sold to Warren Buffet’s Berkshire Hathaway, Inc.

General Electric (NYSE: GE) CEO Theorizes on Recovery was created by and is property of American Consumer News.

Savings goals that families had set for themselves during the last year were the most committed attempts to control finances than the nation has seen in many years. The dedication to get serious about personal finances and reduce debt was a good thing for both families and the economy at large. But concern now is that those families feel they have gone without a lot of things in the last 12 months and may soon start falling back into old habits and not properly prepping for retirement. Financial experts say that consumers are feeling good about themselves when they look at the amount they managed to save. Instead of continuing on and building larger savings goals, many will be quick to spend the pile of cash recklessly.

Analysis of family finances are still important and the more frequently one reviews important information such as budget strategies, interest rates, and ratios of debt to income, the better off they will be to continue on their path to savings. As with the change in every new year, many resolutions will be made to stay financial secure and debt free but few will follow through by actually creating a reasonable and workable financial plan.

Personal finance advisors are still recommending the importance of automating a savings plan. The old adage of ‘what you don’t see, you don’t miss’ can dramatically increase savings. In addition to the automated savings deposits, those with a 401k can get back in shape by reviewing current contribution amounts and upping the amount for the new year also using automated deposits.

Debt elimination is still key for stabilizing finances. Those who are still carrying debts but have still managed to tuck away money may consider using the money for debt relief rather than luxury spending.

While it may feel as though the nation has found some relief from the recession and its impact on so many, the reality is security will only come from proper planning and the execution of a good financial plan. Despite the improvements in the economy recently, there is still no reason to abandon the hard work and good practices of personal finance we have adopted during tougher times. It’s easy to fall back into bad habits but also dangerous to your financial future.

Consumers Being Warned to Stick With Good Practices was created by and is property of American Consumer News.

Much to the surprise of many, over $164 billion dollars of the money spent on the TARP (Troubled Assets Relief Program) has been paid back already, with another $11 billion expected to be restored to the federal coffers by the end of 2010. Citigroup and Wells Fargo are responsible for the repayment of $45 billion so far and Bank of America has repaid its outstanding debt to the Treasury. Some of the other banks to repay their TARP loans included J. P. Morgan Chase & Co., Goldman Sachs Group Inc, Morgan Stanley, Capital One Financial Corp., and BB&T Corp. Wells Fargo CEO John Stumpf cited the loan repayment as a sign the banking industry would get back to the business of focusing on everyday Americans when he said, “With repayment of the TARP investment, we can intensify our focus on what we do best: helping consumers and businesses achieve financial success,”

Upon repayment, Citi CEO Vikram Pandit said, “We owe the American taxpayers a debt of gratitude.” American taxpayers are possibly equally, if not more excited about the repayment of the debt of money, rather than the debt of gratitude, however. The fact that there are still 55 banks that are delinquent in their payments isn’t as heartwarming. Many of those outstanding debts involve smaller banks, but two large banks still owing the Treasury are PNC Financial Services Group and SunTrust Banks, Inc.

Although the TARP investments, totaling $245 billion were expected to cost $76 billion, it now appears the Treasury (and the taxpayers) will actually earn a profit from the entire deal, through early repayments, dividends, warrant sales and interest earned. There has already been a profit of $16 billion, with more expected as repayments continue.

One of the most controversial TARP payments was to AIG (American International Group) who received bailout money twice and still paid huge bonuses to executives, including a company retreat in California costing more than $440,000 just days after receiving the bailout money. It remains a question whether AIG will ever repay the TARP funds it received.

There are signs America’s economy is beginning to recover from its biggest downturn since the Great Depression of the 1940s. Did the TARP funds play a part in the turnaround? While it is entirely possible they did, there seems little doubt that the repayment of those funds is a good thing for every American- except perhaps a few executives that may not see the same level of bonuses in their futures that they saw in the past.

Will Congressional Bailouts Stop Sinking the Ship? was created by and is property of American Consumer News.

Looking back at the downsizing of America jobs.

Twelve months ago we seen the largest downsizing of jobs in nearly ten years. Approximately 1.6 million jobs were lost between July 2008 and June 2009. In January 2009 the number of jobs cut appears to have peaked at 241,729 for the month, the largest number of jobs lost since January 2002. Looking back at the month of November 2009, there were over 15 million unemployed workers when two years prior the number was closer to 7 million people unemployed. This is not including the number of people (6 million) who are currently unemployed but have not actively looked for a job for a period of four weeks or more.

Job opportunities in 2010.

With the number of job seekers in the millions, it may take some time for everyone to begin to feel the effects of the turnaround predicted in the job market. Fortunately the number of jobs being cut has declined steadily throughout the second half of the year. With job losses on the decline and more opportunities for growth expected in the coming year, it appears we might be entering a period when more people will have the opportunity to find full time employment. The first people likely to see the effect will be those currently working part-time or in temporary positions. Since they already have a foot in the door, they will probably benefit first when employers begin to increase hours and hire temps to fill permanent positions.

John A. Challenger CEO of Gray & Christmas, Inc (a global outplacement and executive coaching consultancy) predicts the following areas will see increased job creation in 2010 and coming years; health care, government, energy, financial services and information technology.

With the decline in lost jobs and the anticipation of more jobs being made available, this year might bring the change that many unemployed workers have been desperately looking for in the past two years. If you are out of work don’t give up, employers are hiring and the number of jobs offered will likely continue to increase as we move forward.

Employment Opportunities To Improve In 2010 was created by and is property of American Consumer News.

The outlook on the recession continues to be bleak. With another 200,000 jobs lost in October, 2009, the unemployment rate now sits at 10.2%. According to the New York Daily News, if you figure in the partially employed and “discouraged” workers, the figure actually sits at 17.5%. The numbers are bleak, and not looking to improve anytime soon.

Now, President Obama, according to Reuters, is warning of another financial crisis known as a double-dip recession. While on a trip to China, he warned the United States about the need to control the rapidly rising deficits the country is facing. With this spending seeming to be out of control, any confidence consumers regain amidst the recession could spiral downward.

According to Investopedia, a double-dip recession occurs when, after a period of growth and recovery, the economy slides back into a recession again. Many times, the second recession is caused by consumers not spending as much due to layoffs and tightening of budgets, thus causing a lessening in the demand for goods. The cycle of more job losses then continues and spirals into the second recession.

President Obama’s current economic dilemma is how to create jobs for those who are unemployed, how to stimulate companies to create jobs and bring on more workers, and how to boost the economy while putting it on track toward long-term deficit reduction, as he promised during his presidential campaign. Many measures have been considered, including the stimulus incentives for individuals through the “cash for clunkers” programs and real estate tax credits. Incentives for companies to hire employees are also being looked at, with tax measures being another possibility.

The bailouts and other government spending programs to help companies in trouble, especially banks and the automotive industry, along with the measures to help individuals has put the national deficit at an all-time high. President Obama expressed concern that if the debt continues to be added onto and jobs continue to be lost instead of created, confidence in the economy would continue to plummet.

A second recession would deliver a much more serious blow to the economy and would likely end up lasting longer than the first. Consumers’ confidence in the economy would play a big factor, with many more tightening their belts and cutting spending. Companies would also continue to be reluctant to hire new employees in the face of such a bleak outlook.

President Obama faces the daunting task of trying to rebuild the country’s confidence in the economy amidst continuing staggering job losses each month. Not only must he answer to the rising public demand for more jobs and help for the unemployed, but he must also find a way to stimulate the economy into growth without continuing to feed the ever-growing national deficit. It is an unenviable task amidst a scenario that is unlikely to improve anytime soon.

Worst is Yet to Come With Possible “Double-Dip” Recession was created by and is property of American Consumer News.

According to a report in a recent issue of the Archives of Pediatrics and Adolescent Medicine, almost half of the children in the United States will live in a house that receives food stamps. These children range in age from one to twenty years old with over a quarter of children receiving food stamps by the time they are five years old. It is disheartening that children across this nation are just one step away from becoming the faces on the television.

This can prove to be a hot topic as many people feel strongly one way or another as to whether or not people should receive public assistance. Most consumers are not against someone receiving a helping hand when facing tough times, however in many cases it is those who need the help the most that fall through the cracks. In order to qualify for food stamps, a family must meet certain requirements. These may include the size of the family, monthly income, expenses and disabilities. The system is not perfect and many times the wrong people receive benefits while those who are truly in need are overlooked.

Using the data collected in over 30 years of annual interviews, researchers conclude the following:

• Households that receive food stamps often do so more than one time. In most cases food stamps are used for short periods of time with just 19% of children living in a household that utilizes food stamps for three or more years in a row.

• Race, marital status and education do play a role in whether or not a household receives food stamps.

• Children raised in an impoverished environment are more likely to suffer from inadequate physical and mental health care. Sadly this often means children who grow up in poverty face an uphill battle to escape their childhood circumstances. Thus the cycle continues generation after generation.

This information is based on the data collected during the interviews previously mentioned. With more and more adults struggling to remain gainfully employed, the number of households that rely on food stamps to keep food on the table is likely going to increase. This affects everyone regardless of income bracket. Our children are our future and we need to make sure they are taken care of today to ensure they have the tools to lead us into tomorrow.

Food Stamps Provide Food For Half Of American Children was created by and is property of American Consumer News.

A recent report shows that people have learned to take charge of their finances more aggressively.  Consumers are now saving more and cutting spending across the board.  The personal savings rate is up to 4% compared to 0 just a year ago.  Financial counselors are inundated with clients.  All of this proves the resilience of the American consumer and the lengths that they will go to in order to adjust their lifestyles to the financial situations in which they find themselves.

New Savings Emphasis
The one driving factor towards higher savings is the fear of a lost job.  This motivation is providing the fuel for the current savings rate, which economists see going up further in the coming months.  And even though they are saving less than they were after the last major recession in 1982, it is a welcomed sign.

Consumers are reducing debt to make room for saving.  This is good because even though the standard savings account does not offer much in terms of interest, it is better than allowing unsecured loans to eat up money month to month.  Also, this is an important trend because homeowners are recognizing that because of the housing market, they are not going to be able to rely on rising property values as a source for loans in the near term.

Borrowing Changes
People are fed up with credit cards and are shedding their accounts in record numbers.  Debit card usage is at all time high levels.  Most consumers feel like they have been shut out of the credit market and are seeking different ways to obtain money for the things that they need.  They are turning to credit unions in droves because they offer lower rates and a less restrictive attitude when it comes to loans, etc.

Also, the newest rage is peer-to-peer lending in which several Internet based companies become an arbiter between family and friends who decide to loan money to one another.  This helps keep the process clear and understandable as well as helping to insure that the borrower repays any loans made.

Less Spending Attitudes
Even though spending is down and expenses are cut to the bone, that trend will change as the economy improves and consumers see more money in their pockets.  That will help provide a recovery that is desperately needed by businesses that depend upon consumer cash.

In a matter of months, most consumers will look back on the economic recession with lamentable fondness.  Here’s hoping that they will not soon forget the lessons learned, however.

Studies Show Consumers Learning From Recession was created by and is property of American Consumer News.

American Consumers are not yet experiencing warm and fuzzy feelings about the economy and more importantly their own finances. Even though there have been some small signs that the economic crunch is ending, it has not taken off so as to trickle down to consumers at this point. In fact, some say they are worse off, not better. Here are some statistics that bear this out.

In recent consumer polling by a leading consumer organization, consumers have reported that in the last 30 days almost 38 percent of American families have had at least one bad money event. These are big things, too, like missing medical bill payments, losing a job or being laid off, seeing a reduction in their health care coverage, and missing payments on everything except mortgage accounts.

While most people prefer to look at the bright side (and you can always find things to be thankful for), this poll emphasizes that real relief has not yet arrived for those who are making less than $50,000 per year.

Because of this, consumer attitudes are declining, not going up. It clearly shows that economic hard times are still a major drain on family finances.  Another indicator that things are still pretty grim is that there are very small signs of increases in consumer buying trends. Only things like personal electronics and appliances showed small increases in August 2009 compared to previous months. Everything else has remained in a flat line position.

Financial stress continues to rule most households. An index of consumers stress levels shows a score of just over 65 percent. This is up over numbers from a year ago.

What this means is that families still need to continue their austere financial actions in hopes of riding out this financial storm. Once the economy begins to improve in a way that begins to show up in the wallets of Americans, then we will see more positive attitudes along with a willingness to spend more money.

It also shows the resilience of the American consumer. Even though things are tight and they might be experiencing some of those bad financial events, they are still able to feed and clothe their families (for the most part) and are finding ways to make ends meet. And, there are still resources out there to help those who have experienced a major crash like a mortgage foreclosure. Things will get better – it’s just a matter of time.

Consumers Not Yet Feeling Good About Economy was created by and is property of American Consumer News.

The Big Three

The three indices that are among the best to be used to gauge economic recovery are unemployment or underemployment, a volatile stock market, and weak consumer demand at retailers. These three signs continue to point to a poor economy for months to come.

Bright Spots

There are however, some bright areas in which encouragement can be found when looking at the economic picture.

Consumer Attitudes are Up

New home sales moved up in August which continues a five month streak. There are very good buys to be found in the existing housing market also which makes it a prime time to buy if you are in a position to do so.
Also, numbers show that attitudes about the economy are up to their highest point since January of 2008. If you trace the numbers back to that point, you will find that even though the bottom had yet to drop out of the economy, consumers had ominous feelings about their finances and, for good reason. The bailouts on Wall Street were just a few months away and foreclosures were not as high as they were today.
While these bits of good news does not spell recovery by themselves, it does show that people believe that we have reached a bottom and will begin to move upwards soon.

Manufacturers are Ramping Up

Even though orders for durable goods were down in August, hiring has increased for part-time workers as manufacturers gear up for additional demand for products. Inventories have been depleted which is the reason for the ramp up, but following on the heels of a ramp up like this could be a full-fledged recovery in which orders will begin to be seen for durable goods once again.

This adds to the sentiment that is already seen as a positive force moving forward. It appears that families are treading water until things improve. They are doing what they have to just to survive and ride out the financial storm. The best advice is to sit still and watch it unfold before you.

Economic Recovery is Here, But Slow Moving was created by and is property of American Consumer News.

• Banks shall be required to disclose all fees upfront with information presented in a clear and conspicuous manner.

• Prohibit large penalties for individuals who pay their mortgage off early.

• Prohibit banks from selling expensive loans to consumers who qualify for less expensive loans.

• Require banks to warn account holders (at the ATM) if their withdrawal will overdraw their account.

• Banks would be required to post and pay checks in the order they are received versus paying the largest check first.

• Limit credit lines offered by credit cards; specifically not allowing credit card companies to extend credit in excess of a person’s annual salary.

• Prohibit credit card companies from raising interest rates based solely on how other credit card accounts are managed.

While many of these changes would certainly benefit consumers, who will be responsible for monitoring the banks and credit card companies? It has been proposed that a new Consumer Financial Protection Agency be created to deal with the task of making sure financial institutions are complying with rules and regulations intended to protect consumers. This may become a reality in as little as a few weeks when the House Financial Services Committee is scheduled to consider legislation to establish this new agency.

These changes come as a result of banks and other institutions who were able to benefit from the bailout only to turn around and slam consumers with excessive fees and charges. This action not only angered many Americans but also made it difficult if not impossible for many consumers to survive the recession with their financial security intact. Those most affected by current lending practices are adults under 35 years of age, low income households and minorities. This is also the group that shows the most support for a new consumer protection agency.

While not everyone will agree with another government agency imposing more rules and regulation on the lending industry (as this sometimes backfires for consumers), the fact remains that many consumers are at a disadvantage when dealing with big banks. We can only hope that changes that may take place in the future benefit all consumers. Until that time it is up to each individual to carefully read and understand any financial agreement before signing on the bottom line. If you do not understand what you are signing you are taking a risk that may cost you in the long run.

Consumers Seek Full Disclosure From Lending Institutions was created by and is property of American Consumer News.

What is a recession?

A recession is when there is a decline in industrial production, employment, real income, and wholesale-retail trade that lasts for six months or more. It spells trouble for all of us. Sometimes it’s hard making ends meet in the best of times, but trying to raise a family in the midst of a recession is doubly hard to do. It helps to stay optimistic in this type of a situation. We can tighten our belts a little and still share some quality time together as a family. Tough economic times call for finding ways to cut down on spending, but not on activities, even when we’re on a budget. After doing a little bit of research I’ve come up with a few ideas that may help to weather this recessional storm.

Saving Money in the Kitchen

There are lots of ways to cut back including in the kitchen so let’s start there. First, get rid of all prepared meals. Aside from being too expensive, they are loaded with excessive fat, sugar, salt and all kinds of preservatives. These are things that your family doesn’t need. Plan wisely and schedule specific meals for each day of the week. Do your grocery shopping once a week and get exactly what you need for each meal. Try going meatless twice a week. Do a little research and find recipes for low cost meals that you can make like pasta and vegetables or a home made veggie pizza. These are nutritious meals and won’t cost a lot of money.

Saving Money When Traveling

Even when arranging for a vacation or just family time together, put a schedule in place so that you don’t miss a minute of fun. Check with the local visitor’s bureau in your city and see what attractions they offer. Some cities sponsor summer festivities for a minimal fee or no cost at all. Spend the day at a local park; take along Frisbees, a baseball and bat and maybe even a set of horseshoes. Stop by your local public swimming pool one day for an afternoon of aquatic games. Even pack a lunch to serve up after the swim, picnic style, at a nearby park. Everyone develops an appetite after a day of sun and fun. This is an ideal way for a family to spend a day together. The next day, spend the afternoon watching a movie in your local theatre. If you get there early, you can get the matinée price. It’s another great way to spend the day, and see a great movie in the process.

Saving Money on Pampering

After this much activity, you deserve to pamper yourself a little. If you like to read, don’t go out and spend money on a new best seller, join your local library and read all of the books you want for free. Also, stock up on some inexpensive candles and some aromatherapy bath beads (you can get them at the dollar store) and treat yourself to a relaxing soak in the tub. If you close your eyes, you can pretend you’re at a fancy spa. You’ll feel any stress that you may have acquired from the long day begin to melt away.

You can find ways to cut back on spending and not on activities, it just takes a little bit of strategy and imagination. So plan to cut back, have fun and make some great memories to treasure for years to come.

Living In A Recession was created by and is property of American Consumer News.

The latest scam surrounding the recession involves con men sending mail, email, or placing phone calls to alert people of their “services” to get cut in on the piece of the actual stimulus money. Unfortunately, as with many current scams, the websites and marketing materials of the companies look pretty legitimate. Many even feature the image of President Obama  or Vice President Biden on the site. People will see such images and assume that the service and the company is on the up and up.

What Happens in the Scam?
Since many people are desperate for financial help, they will be likely willing to divulge personal information in an effort to get a bit of that stimulus money. The scammers will send out materials that request personal information, including name, address, social security number and banking information. With just a few bits of your your vital information, these con artists can clean out your bank account, open new lines of credit in your name and virtually destroy your present credit rating in a very short period of time. Often this can occur before you even know what happened to you. Also, because some of these scams involve a “service”, many companies will also require some payment of sorts for the help. If you give out your credit card number, you can be charged for way more than a fake service.

How To Protect Yourself
You should never give out your personal information or financial details to any other individual unless you are absolutely sure of the identity of the receivers. It can be very easy for scammers to create very legitimate-looking websites and emails that will lead you to believe they are trust worthy. If you feel unsure about a company’s authenticity, check with the Better Business Bureau for information.

If you think you have already been scammed out of your money or personal information, contact the FTC’s Bureau of Consumer Protection to report the scam.

Be sure to check out your credit card statements carefully each month and make sure there are no fraudulent charges. If you find something that doesn’t make sense, contact your credit card company immediately and report your findings.

Never consider yourself untouchable. Scammers will not discriminate and will be happy to take money from people of all financial status.

Beware of Stimulus Scams was created by and is property of American Consumer News.

Here are some do’s and don’t to surviving the recession’s tough times:

The Do’s

Paying Off Debts – Even though it may mean sacrificing in other areas, it is very important that you continue focusing on the debts you have already accumulated. Falling behind will mean even bigger problems financially down the road. Don’t ignore the creditors and pay at least the minimum on your debts, if not more.

Continue to Pay Yourself – Keep putting money into your 401k and other savings and investment plans. It may be very tempting to withdraw that money to get you out of trouble in the short term but for the long-term it is best your money stays put. Even though the market is unsteady, it will settle down at some point. Withdrawing money now will certainly cost you money in fees, penalties and taxes.

Put More Effort in Your Taxes – Itemizing your taxes can help you qualify for additional tax breaks and deductions you might not find by only filling out only the simple forms. You must also be patient when it comes to waiting on your tax refund. Being too hasty and taking out an anticipation loan for speedy cash will cost you a lot more than you can probably afford to pay.

The Don’ts

Feel Guilty or Alone – Because so much of the nation is experiencing the same financial problems as you, there is not reason to feel bad for not being able to afford things. There are many consumers who can not afford a pricey dinner out or a big vacation this year. It is more important to be frugal with money and be grateful for all of the things you do have. You are certainly not the only one working hard to stay on financial track.

Forgo the Sales – While it is always great to find a bargain, it can also be too tempting to buy more than you need. If you are using coupons wisely and following sales on the items you truly need, it can be a great way to save money. However, if you are just jumping at every clearance rack you see, you are likely spending money you don’t have on things you don’t need.

The Do’s and Don’t of Recession Time was created by and is property of American Consumer News.

Interview after interview, perfectly capable job candidates are being told they’ll get a phone call when business improves.  Is it possible to land a job during a tight economic period where money troubles are common?  It’s true that the job market outlook is dimming, but the lights are on somewhere – it’s not completely blacked out.  One thing is for sure, though.  If you head into each of your job interviews thinking they won’t hire you because of the economy (or any other reason), you’re not likely to get the job.  The biggest help for your job seeking is in your head – if you think you can land the job, you increase your chances. 

Henry Ford said, “whether you think you can or you think you can’t – you’re right,” and that famous quote couldn’t be more true for job seekers in an unsettled economy.

Here are the key steps to succeeding during a tough job hunting time:

• Leave no stone unturned.  Call everyone in your address book, every friend, relative and acquaintance you’ve ever had and tell them you’re looking for a job.  People may not respond to you the first time you call, so call them again in 30 days… and in 60 days… and so on. 
• Talk to people.  Sending a resume is great, but making a phone call is better.  Unless the ad specifically says “no phone calls please”; call the company and introduce yourself before sending your resume.  If there is no advertisement for a job, feel free to call a company you would like to work for and ask if they have any open positions.
• Make the job search your job.  Establish a routine and be consistent.  Look for a job every day. Treat it like you would if it was your dream job and you were getting paid big bucks to do it well.
• Stop qualifying yourself – out of a job.  When you have an interview or are talking with someone you’ve just met, be careful that you aren’t qualifying yourself out of the job.  Don’t go on about how hard it is to get a job because of the current economy, or why you may not be suited for such and such position.  Talk to everyone who listens and keep going until you have a job offer you like.

Stop looking for job openings, and start looking for opportunities:

Most of the best inventions have been created out of need, right?  Opportunities are born during times of crisis and unsolved problems.  So, as the economy dips further and we see people losing jobs left and right – think about the executives and leaders in the high rise office buildings.  They are people with unsolved money trouble, needs, and a vision for the future.  How can you help them fulfill their visions?  Offer solutions to make a business owner’s vision reality.

Job Seeking in an Unsettled Economy was created by and is property of American Consumer News.

Here are my favorites from the week:

• Debt Freedom Fighter from Discover Debt Freedom presents 3 Indicators that a balance transfer credit card is right for you.
• AJC from How to make $7 million in 7 years … no scams, no schemes! presents Horses are not for courses …
• Money Answer Guy from Money Answer Guy presents How to Compare Lenders Online.
• Debbie Dragon from Empowering Mom (that’s me) presents Today I’m Grateful for a Recession-Proof Business.
• CindyS from Oh My Aching Debts presents Personal Finance Game.
• Little Thomas from Soon to be Debt Free presents Everything I Thought I Knew About
  Budgeting was Wrong . . .

A Funny Carnival of Personal Finance Has Been Published (#175) was created by and is property of American Consumer News.

The next time you hear the word recession, here are 5 things to be happy about instead of filled with despair.

1. Frugality Is Cool – Some people avoid coupons and discount stores out of embarrassment or pride but now more and more people are tightening the budget belts and find that every little bit of savings helps. There are countless websites in the internet that devote the entire site content to lessons and tips for frugal living.

2. Home Cooked Meals – One of the first pieces of advice financial experts are prone to offer when it comes to saving money is to stop eating meals away from home. More and more families are going back to the table. Not only is this a great thing for the family unit, but people are healthier and happier eating more balanced, nutritious meals.

3. Life’s Slow Down – With the price of gas and vehicle maintenance on the rise, more families are traveling less and spending more time together at home. This includes cutting down daily travel activities, as well as family vacations. The latest coined term, “Staycations” define the increased tendency to avoid the trip away from home in favor of just slowing down and enjoying life at home.

4. Entrepreneurial Thinking – With the increase of layoffs and downsizing in the workplace, there is evidence that more people are inclined to start their own business. Tough economic times are a good time to become your own boss because competition isn’t as fierce, services and product costs often can be found at a discounted rate, and rental space cost can be negotiated.

5. Back to the Earth – With the rising cost of produce, more families are coming back to cultivating an old-fashion garden in order to save on fresh fruits and veggies at the supermarket. Not only is gardening good for the inside of the stomach, it is also an excellent activity for the outside too because of it’s cardio fitness and stress relieving qualities.  Additionally, it’s great to know your family is eating fresh foods, free of pesticides and other potentially dangerous chemicals sometimes found on foods and produce.

Recession Can Be a Glass Half-Full was created by and is property of American Consumer News.

What can you do NOW to prepare for a recession?  Turns out there are a few things you can do with your job and your finances to help you better prepare in case the recession actually does hit us.

Specialize in your Career: You might think that if you can do many different things you’d be more valuable as an employee.  Turns out, just the opposite is true.  During a recession, it’s the people who have specialized knowledge who keep their jobs or are able to find new ones and the people who can do a little bit of everything that find it difficult to keep employment.  Employers tend to hold out for that perfect employee to fill the job rather than pick one who could do a little of this and a little of that.

Do a little something outstanding!  If you were to be laid off from your job right now, would you have anything noteworthy to include on your resume regarding your achievement at this job?  Make sure that you do something at your current job that will stand out on your resume because that will help you in landing your next job should you have to start looking for employment.  (A recession may cause you to lose your job, and this is a great way to get prepared for a job search you aren’t sure if you’ll have to do or not!)

Increase your savings.  Easier said then done, I know!  In times when a recession may be on the way, however, you will want to start beefing up your short term avings accounts.  This doesn’t mean to raise your contributions to your retirement funds or other inaccessible savings vehicles- instead, you want to increase money into accounts that you can access if you are laid off and need money for paying your bills or putting food on the table.  People with three to six months of living expenses saved typically have the easiest time during a recession, so now is a good time to get more money into your savings accounts.

Stock up on non-perishables.  Before a recession, you could also take the opportunity to stock up on things that don’t have expiration dates that you use all the time.  Things like paper towels, toilet paper and canned goods are easily stored.  If you have these items on hand when a recession hits, it’s less that you’ll need to be purchasing when money is tight.

How to Manage With a Recession on the Way was created by and is property of American Consumer News.