Create Your Own Economic Bailout Plan

It is almost becoming a stereotypical statement these days; we are in tough economic times. Stereotypical or not however, the statement is true.

A total of 2.6 million jobs disappeared in 2008, the most since World War II, and the pain of the recession is only getting worse as 11 million Americans search for work.

Unemployment hit a 16-year high of 7.2 percent in December, the government reported Friday, and could be headed for 10 percent by the end of 2009.

There is a lot of doom and gloom everywhere you turn and even being an eternal optimist is difficult right now. While the news may be true it is also a field day, a veritable gluttony, for the media who unfortunately thrives on bad news. Why not ...misery loves company, the old saying goes and doesn't it make us all feel better to hear we are not the only ones who may be suffering financially and emotionally if the crises have reached the level of losing one's home and all their worldly possessions?

If you get laid off right now, God help your soul. You better hope you've got savings or someone backing you. Many have no faith in this system any longer and seeing companies like GM, Chrysler ET AL, get giant handouts from the government yet still continue to hold lavish corporate retreats and fly around in Lear Jets certainly does not help keep the faith.

The recession, which just entered its second year, is the longest in a quarter-century. The fact that the country is battling a housing collapse, a lockup in lending, rising unemployment, shrinking consumer spending and the worst financial crisis since the 1930s makes the downturn especially dangerous.

SO many are at the mercy of "The Man" and the man ain't coming through. Where there was once solace in a long time job it is often found that when the going gets tough the security and stability of that job gets a back seat to the survival instinct of the owner who now begins to cut loses to save his own skin. The team and all that spirit which goes along with it now give way to the lone wolf syndrome.

What can you do about it? Stop being a victim of the economy. Become the hunter and take back control of your life! Create your own bailout plan and seriously consider becoming your own economic stimulus by starting a small business at home.

There is a quiet revolution going on in America in the extra bedrooms that have now become ME, Inc. as home offices. According to IDC, a top national research firm, there are between 34.3 million and 36.6 million home office households in the United States alone. Nationwide, the number of home-based businesses may range from 18 million to 38 million, depending on who is doing the counting.

If you have ever considered the possibility of being your own boss, having a 30 foot commute instead of a two hour commute, spending more quality time with your family and declaring independence from corporate America and the economy, now may be that time.

Don't wait too long, however. If you feel your job may be on the upcoming chopping block start now. If you have savings and or a 401k plan you may want to begin planning an exit strategy.

If you have the luxury, begin part time in the evenings and create a business plan on what you could do using your strengths to work for yourself. A good start would be to use a basic business strategy called S.W.O.T which stands for strengths, weaknesses, opportunities and threats to establish what you have to bring to your home business table.

The biggest mistake you can make is to take a shotgun approach and start buying and trying every make money quick scheme out there. You will rapidly eat up any money you have set aside. Use common sense and do your research.

There are many good resources on the Internet but beware of the so called "gurus". If it sounds too good to be true nowhere is this statement more accurate that in the Internet make money realm... IT IS.