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There could be some good news for those who have irregular incomes as one in ten consumers reveal that they think that the recession will be over in a year.

Many people who are self employed, who rely on commission and bonuses or are freelance have found the last year very hard indeed. But over one in ten consumers are confident that the recession will be done and dusted by the end of 2009, and a further 12% think it will be finished by March 2010, according to uSwitch.com.

Even more encouraging is that over one in five Brits believe the housing market will bounce back by the end of this year, a further 44% more realistically think the end of 2010 will mark an upturn – indicating that the inherent steadfast trust in bricks and mortar is still holding true for people in this country.

And the optimism doesn't end there – 4.3 million consumers feel that the recession has had a positive impact on their financial wellbeing. Of these consumers, over a third have seen their mortgage repayments decrease, and over half have secured bargain purchases as retailers compete to cut prices. On the job front, 13% of these state they work in recession-proof industries and have never been busier, whilst 3% of respondents even feel that redundancy was the best thing that happened to them having embarked on a new business venture or change of career.

Louise Bond, personal finance expert at uSwitch.com says: "Despite the doom and gloom many consumers are seemingly exhibiting a British Bulldog spirit amidst the financial crisis and finding ways to accentuate the positives. It is encouraging that consumers are also taking their financial future into their own hands by committing to changing their financial behaviours for the better."

If you are a self cert borrower and come out of this recession still standing, then you can be sure that the future will look bright indeed. But to get through the tough economic downturn you need to be sure that your finances are as good as they can be.

SOURCE: uSwitch.com, 21/08/09

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