Surviving a Bad Economy without Feeling Poor
Surviving a Bad Economy without Feeling Poor
Financial Times are really hard for everyone, but you don’t have to feel like a poor person to survive it. Simply by managing your money well, you’ll actually be able to live comfortably even when the economy is bad. And done well enough you might just have some money saved in the bank for the future. You don’t need to live like a pauper or poor person to accomplish this either. Surviving a bad economy takes a mixture of being frugal, as well as being financially savvy and creative.
1. Start doing things for yourself. If you normally have someone else take care of your laundry and cleaning for example, take over those chores yourself to save a bit of money. One of the best ways to survive when the economy is bad, is to stop being lazy. Anyone who is willing and able to work hard Will survive, and possibly even thrive during these difficult financial times.
2. Stop spending money. No, you do not have to starve or put your family out into the street. All you really need to do is stop spending money on things that are not needed. Understand the difference between wants and needs, and restrict your spending to only what you essentially need to survive.
If you’re used to going out to eat with your family on the weekend for example, try changing that to a barbecue in the backyard instead.
Instead of going out to the movie theater each week for entertainment, try the less expensive method of watching movies available on TV, or renting the movie on DVD.
3. Ask other people for help. You’re not the only one feeling the financial crunch right now, and you’re not the only one who could use some help. By pooling your resources together with those from friends and family, you can all help each other to reduce expenses and save money. Start a carpool for example, have weekly buffet dinners and barbecues where everyone brings a little something, or simply trade items with each other which are no longer needed.
©Kathy Burns-Millyard
