We hear in the news often about the plaguing financial issues, the housing market, unemployment, and a recession. However, we rarely hear anyone discussing the tools to survive in a recession. Most people are trying to figure the answer to this question. How Can We Survive and Thrive in a Recession? I do not have all the answers but some suggestions that can help you from my experience. The key to solving a problem is finding the obstacles. You can and will survive in a recession. The key elements to surviving in a recession is to budget, let go of anything that you do not need (purge), purchase items that are needed (not wanted), become a savvy shopper, and keep cash on hand. I will continue to offer other suggestions in the upcoming weeks. These suggestions will entail finding ways to generate other sources of income, creating a strong savings plan, and to enjoy the pleasurable events or attributes of life. These are purely suggestions. These suggestions warrant no guarantees. These are strictly opinion based by the writer.
For the next few weeks, I will begin my “Money Series”. Today, I will discuss budgeting. In the upcoming weeks, I will discuss issues concerning money and personal remedies for surviving and thriving in a recession. Please review my suggestions. Please feel free to use what works for you and ignore any suggestions that may not work for your life. First, develop a budget. I suggest you figure out your monthly income, your expenses, and your spending habits. Develop a spread sheet and create a budget. I know… What is truly a budget? Well, for most people a budget is non-existent. We normally spend without any idea of how or what we are spending. The act of spending often leads us to money issues. Most of us, do not have a money issue but a spending issue.
