Last week we learnt that the UK had gone into a double dip! Double dip of what, you may ask? Chocolate? Diamonds? Would be nice but nope…a recession! It is the first time since 1975 and there is no real guarantee as to when we will come out of it! Printing our way out of it obviously isn’t working!!
A double dip in layman’s language is when the growth of a country’s GDP (Gross domestic product) slides back in negative shortly out of coming out of it – negative – positive – negative again, not long after. This can and will affect you in different ways – continuation of low interest rates, squeeze on your income due to cuts and stagnated pay increases and all of this as the price of living goes up.
Of course a recession affects everyone but more so women. Although we are earning more and have more opportunities in the job place generally women still earn less than men, more so here in London.
The Evening Standard touched on this last month, reporting that ‘unemployment among women in London continues to rise, up by 7000 to 186,000 in the first quarter of the year….’ There are various reasons for this including that women have more of a sporadic job history than men, sometimes due to raising children at home, etc, etc, and thus are the first to go when job cuts are announced.
You can read the article in full by clicking here.
In regards to this scenario things are probably going to get worse before they will get better as this chart grows.
In addition to this there are more strikes scheduled following last November’s historical one over pay and pensions. So, irrelevant if you are safe and secure in a job, now is the time to become financially savvy as no one knows what tomorrow will bring. How do you do that? Well, fortunately for you, you are reading this blog post and are hopefully now a member of this growing, progressive and supportive group for women wanting to connect with their infinite self – their infinitely wealthyself. If not then do sign up to us to receive our weekly emails and attend our monthly webinars by clicking here.
The title of this month’s Infinitely Wealthy Women’s Webinar Wednesday is ‘How to Become Financially Savvy in 6 Easy Steps & Earn More Money Too‘.
To find out more and to register please go to http://bit.ly/IyhuxI
We hope to see you on the call! And remember in every challenge there is an opportunity to grow…grow yourself…grow your ‘GDP’ aka wealth! Start today by signing up for the webinar!