IF THERE'S a song that serves as a recession anthem, Billy Ocean's 1985 UK number one hit - When The Going Gets Tough, The Tough Get Going - has to be it.

Not to make light of lean times, but has anyone noticed the bargains that are flying around these days?

Flight prices have dipped so much, you can zip to Melbourne for $400 (taxes included) on a regular airline carrier. One budget airline is offering flights within the region for free practically. Just pay for the airport tax and fuel surcharges.

And with so many sales in every store, by the time the Great Singapore Sale hits, things would have to go for a song to qualify as a great buy.

There are opportunities to be had when times are bad. If you can still afford it

But caveat emptor: there's wise and foolish spending.

It's a situation when one does need to look this gift horse in the mouth, or it could well turn out to be the Trojan one that sinks you into bankruptcy. Think Recessionista, not Depressionista.

This article was first published in The New Paper.