Let's Talk Numbers.....

The recession, it's the topic on everyones lips at the moment. Why? How? When? Who? People are tightening their belts as well as their fists. And of course there are already statistics showing some disturbing figures.

Almost 80% of South Africans are being more careful with their money than before the economic downturn, and budgets are becoming increasingly important. Budgeting has become the new religion. This has emerged from a study on consumers' response to the recession conducted by UCT Unilever's Institute for Strategic Marketing.

Although 80% of consumers' personal income has not dropped in the past six months, 45% reckon they are under greater financial pressure and 34% claim to be battling to maintain their lifestyle. Only 21% say the recession has not affected them yet.

Now as disturbing as those figures are, there is some light at the end of the tunnel, I realised that through all this budgeting and the trend apparently sweeping the nation, isnt that the perfect example of a consumer managing his/her finances responsibly? Think about how much money we waste on unneccesary things. We might have to give up a few of our luxuries but the end result will teach us what we need and what is excess.

I'm not saying it's not going to be a bumpy ride but everything that happens in life has a lesson, this is ours and if we buckle up and ride the wave till its through and start coming together instead of pulling away from each other we'll be much better off on the other side. Here's to the end of the recession and all the good that it brings!