Can we really beat the cost of living crisis?
Whether you are married, divorced, single, a parent, a retiree or a recent graduate, the cost of living is soaring while our standard of living is rapidly declining.
Today inflation hit 10.1%!!
If the experts are correct inflation may hit 15% at the start of 2023, which I think is a terrifying scenario for the UK economy, especially as interest rates will continue to be hiked making a recession almost a certainty.
Meanwhile, real wages are falling.
The Office for National Statistics (ONS) has revealed that the country’s “real pay” has fallen by a staggering 3 per cent.
As a result, experts refer to people experiencing a "real terms pay cut" because their salary is not keeping up with the cost of living.
I read elsewhere that the average family now spends 93% of their combined income on living expenses, leaving them with only £200-£250 in disposable income per month.
Many people are becoming financially dependent on their low wages in order to survive the spiralling cost of living.
In addition, low-paid and underpaid workers now feel imprisoned in their current jobs, leaving them open to exploitation and job insecurity.
Are you one of the 50% of UK households worried about their ability to meet rising rent or mortgage payments?
Bizarrely, the Bank of England is still raising interest rates!
I'm no expert, but common sense tells me that the Bank of England is using the wrong tool to address the root cause of our inflation and is determined to drive the economy into recession with high unemployment.
What's more, mortgage payments that will nearly double will result in chronic stress and mental health issues for many.
For those without a Plan B, I foresee economic meltdown coming this winter.
Half of UK households are worried about how they will pay their fuel bills in January when the average energy price is expected to rise to £4,266.
My new fuel bill will be £2,636.00 higher than what I'm currently paying, and I consider myself to be a light user!
Worse could be on the way. If current sky-high wholesale prices for gas and electricity do not fall soon, the average family's annual energy bill could reach nearly £5,300 starting in April 2023.
Worryingly, all but the top 20% of households may be facing fuel poverty.
I'm aware that the cost of my groceries and other necessities is rising. It must be much more difficult if you have a large family to feed because food bills have risen by 11.6%, amounting to a £533 annual increase for the average household.
Foodbanks will soon be overwhelmed by the influx of people desperate to feed their families. Charities could also be in a crisis soon as food donations dry up.
Maybe you feel as though you have already run out of options for "tweaking" your household budget and are worried that you won't be able to survive 2023 without going into debt or maxing out your credit cards and overdraft.
With inflation, the cost of basic goods and services will continue to climb, further straining the already dwindling household budget.
If you have savings, you might be incensed to find that banks and building societies are currently failing to pass on the most recent interest rate hikes, leaving millions of people short-changed.
Many people who decided to retire early during the COVID lockdowns to pursue personal fulfilment and live a less stressful lifestyle have had their dream shattered by the cost of living crisis. Many of these early retirees have had to return to work, fuelling what has become known as "The Great Unretirement Trend."
Worse could be coming as fears of a protracted, severe recession, which would impoverish millions of people, may soon come true.
I try not to get too political, but it is evident that our Downing Street overlords are not looking out for us. Government support grants will be too little and come too late for many. Tax cuts will only benefit the wealthy.
What we face is a very rapidly developing household debt crisis. A large number of people will stop going out or spending. This will also have a significant impact on the hospitality, leisure, and retail industries leading to increased business failures and increased unemployment. As a result, the knock on effect will hit other industries making a severe economic downturn very likely.
So, What's The Answer To Surviving 2023?
It seems that the economic downturn and the cost of living crisis has forced many people to rethink their finances and look for ways to make extra money, creating a perfect storm of opportunity.
Right now, the best way to do so is to become an entrepreneur and launch your own online home-based business.
Some gig economy options are fairly obvious, such as becoming a virtual assistant, selling business services on platforms like Fiver, flipping Amazon (or other) products on eBay, mowing lawns, washing windows, walking dogs, etc.
However, not all side hustles are created equal.
While these side hustles can provide extra income, you are still exchanging time for money, limiting your earning potential. After all, there are only 24 hours in a day. What is lacking is a reliable source of "leveraged residual income."
I don't know about you, but I used to leave the house at 6.30 a.m. when I was running my graphic design business. I was exhausted after commuting and returning home after 7 p.m.
I can certainly imagine how someone might feel after coming home from one job and then going back to work because the pay from the first job is no longer adequate.
The thing is, I discovered it doesn't have to be this way. There are other options and choices we can make.
What if I showed you a leveraging strategy that could help you increase your bottom line?..
Something that outperforms inflation and has no earning limit?
Best of all, it includes optimal health (think more energy and stamina, a better mood, a healthier gut and a stronger immune). While adding £500 - £1500 or more to your monthly income from your phone? (This is what we're doing).
We follow a detailed road map that will walk you through every step of establishing your business, so you will never be left wondering what to do.
It is known as "The Max Method," a step-by-step system for starting a business using social media platforms such as LinkedIn and Facebook.
It's a tried-and-true free method for achieving rapid growth and duplication in record time, and takes the guesswork out of starting a direct sales business. You can achieve the same results by following the exact methods used by thousands of top earners.
What's more, this method provides critical, proven strategies for successfully launching your organic business and ensuring your new recruits can quickly do the same, and avoid common start-up mistakes that lead to failure.
We also have regular Zoom team training, private Facebook community as well as a hands-on CEO, all of whom work together to ensure your success.
There has never been a better time to start a side business with in-demand organic products. Make the decision to change your mindset, optimise your health, and create your own economy so that you can thrive during the cost of living crisis.
If any of this resonates, let's chat right away. DM me here.
Here's to beating inflation!