We are moving through times of recession and we hear a lot about loss of jobs, bad credit, financial insecurity, careers in crisis and what not. What we do not hear about enough is how to overcome these difficulties.

How do you manage to get through financial tough times unscathed? This is something that everybody would like to hear about; you need to know how to take control of your life even when you've lost everything that could offer you financial security.

Not All Businesses Need Start-up Money

Not so long ago, even thinking about launching a business meant that you have to put together a large amount of money as an investment. Then the Internet came along and the investment required was cut to less than 1/10th. Sometimes, people could invest nothing more than their time in order to start earning with the help of the Internet. This was the first time that people realized that, in order to be successful in life and business, you needed to look out for ways to improve. ‘Never say die’ is a good proverb to remember here.

Now that you know that you don't always need money to start earning online, would you be interested? Would you be attracted if you were told that you don't need any money for investment either?

This is not a myth or hype! It's possible to earn an amazing income through businesses that you can start with zero or minimal investment. Here are some suggestions:

1. Offer your services for mundane jobs – mowing of lawns, painting picket fences, walking dogs, pet sitting, baby sitting, picking up groceries, picking up and dropping children off at school, and the like, are jobs that are always in demand in any neighborhood. Identify what you can do and announce it to all who might be interested. Put flyers in prominent places and be ready to start earning a steady income. Expand into an agency that takes care of all these things on order.

2. Debt and credit consultant – if there is one thing that will always concern the modern civilized human being, it is debt and credit management. Whether you are going through economic recession or boom times, this will always be one of the primary concerns of all. There are plenty of course outlines that will qualify you for this type job. A good idea would be to "job-shadow" for awhile, and when you are sure of yourself, go solo.

3. Freelance on the 'Net – if you have a flair for writing, you could easily freelance on the Net by writing articles and sales copies. Depending upon your talent and qualifications you can find plenty of work in the freelancing market for writing essays, web designing, Internet marketing, SEO, accounting, and so many others.

4. Tuitions – coach students in the subjects in which you feel qualified. You will always find students who need a little guidance in a wide array of subjects. You could hold coaching classes and earn quite handsomely. In this bracket, you can add teaching a foreign language, if you know any. Also consider photography, using various computer applications for photography, art work and others such things.

5. Event manager – If PR is your strength, you could start a business of event management for birthday parties for children. Though challenging, this is a fun way to earn money.

6. Leisure & art classes – offer to teach leisure arts such as painting, playing the guitar (or any other instrument), dancing, singing, crafts, and the like. This is a great hit with children of all ages, and even with adults!

7. Cooking classes – if you are good at cooking, baking, preparing fast food, etc you could start giving cooking classes. In the same line of thought, you could cook on order for parties and picnics.

8. Specialized services – depending upon your expertise, you can offer your specialized services, such as tax consulting, computer programming for small businesses, typing work for students, loan consultation, HR, writing proposals, and so on.

9. Advertise local businesses – offer to wear advertisements for local businesses. You might remember the furor created when a person offered to be a live advertising board for various companies. You could use your arms, back and even face – for some sensational advertising and great income resource.

10. Sell curios – look around in your neighborhood and collect things that can be used as fancy items. For example, paint stones and sell as paper weights, collect pine cones and decorate and paint them and sell as show items, make craft items from junk (there are plenty of sites such as ‘Art Attack’ that can guide you), and so on.

Look at all the above suggestions and understand that for this purpose you need to combine need with a little out-of-the-box thinking. Recession or no recession, there will always be plenty of ways to earn money, provided you are willing to make the effort and are ready to take action.

You have heard so many times, people lamenting that they are unable to save any money because they do not earn enough to cover their bills. Most people believe this is the truth – how can you save when their income is less than their expenses? The point here is that, no matter what, one needs to save!

Saving Vs Investing

There are many people who think that saving money and nurturing a habit of saving is useless. These people belong to the school of thought wherein investing makes sense; where each cent needs to be put to work for you. Investing is a great force in generating wealth, true. Nonetheless, you still need to save!

Why? Let me explain.

Take yourself for example; let's say you are earning about $65K per year. Are you able to live within your means? No. You will definitely have a number of loans that need to be paid and you have maxed out a few credit cards at one time or another. You might think that another $1000 per month or more will give you the financial freedom you seek. But it's not true.

Look back into your own life – no matter how much you earn your expenses expand to match it, right? You were never in a position where you have been left with excess money at the end of the month, which you could have saved.

Savings means financial discipline

This is why you need to cultivate the HABIT of saving; and saving is done at the beginning of the month when you have your salary (or income) in your hand. Just like charity money, saving money should be budgeted for in the beginning of the month.

The amount you save may of course be invested, if you like, into mutual funds, bonds, and what not – and this income is to be set aside as savings. Your aim should be to put aside enough to sustain you over 12-24 months without any problem. In that case, you won't be worried about sudden recession, loss of your job, a medical emergency, and so on.

Savings means financial discipline. You need to impose and internalize this fact: you need to cultivate the habit of putting a little aside for a rainy day, regardless of how much you earn. Ideally, you should save about 15-30 percent of your total income; however, even 10 percent will do initially.

Earning Vs Retaining

You may know many people who earn five figure incomes, but seem to always be in debt. They lead an extremely luxurious life. But what if tomorrow there is some problem and they are become unable to earn that income any longer?

Just what happened to the IT industry during this recession? Savings, the cash that you stash in the bank, is your strength, your security net, your support when you fall upon hard times.

Earning a high salary or income is great! There's no denying this fact. However, no business is foolproof, and there is always the risk that you will end up without the means of earning an income. During such times, your savings will be your sole fallback.

Let us make one point, that we meet each other with a smile, when it is difficult to smile. Smile at each other, make time for each other in your family.

Mother Teresa (1910 - 1997), in her Nobel lecture