My Tips in a Recession

Everyone keeps talking about how the economy is so bad and there is a big recession and the world is going to end. I would not say it is quite an apocalypse. All of the hype is half of the cause of problems. I don’t think we are in a traditional recession, I think we are in a transformation. The economy is going to emerge much different than it started. Banks are going away. Loan companies are becoming banks. Employers are slimming. Things are changing, but I do not think it will ever be the way it was a couple of years ago. That said, this is how I am dealing with the recession:

I am doing nothing different from before the recession. That is my secret.

I am working hard at work to keep up with everything. I am trying to make myself more important in operations so I am considered vital if layoffs do occur in my area of the company. Events in my department are actually on track to have an open supervisor position. I am going to try to get it.

I am still saving 10% for retirement. A few bad years in the economy will not derail my retirement plans. I want to retire young.

I am spending the same as before, as my situation has not changed. I still pay off my credit cards in full every month. I still take my girlfriend to dinner and movies. I still pay my rent and utilities on time.

The best way to whether a bad economy is to work hard to ensure your job is safe. Do not feel bad if you are the one still there after a layoff, that means you worked harder and were considered necessary.

If you lost your job, do not just sit and mope. You were probably given a severance. The end date should be your last possible date to get a new job. If you have to take a waiter job or retail job temporarily, do it. Keep an income. No job is below you. In between jobs I was a waiter. I made decent money and quit when I got my new job.

There is no excuse for you to not have a job. Any reason you give why you do not have a new job (if you were laid off) is just an excuse. There is some job you can get. You can make money, it just might be less than before. That happens. Deal with it.

So, as I said, do nothing different from before the recession. Keep going to work. Keep living your life. Spending like before is the only thing that can fix the recession. If you need a new car, go buy one (but not an American car). If you need credit, you can get it. If you have a bad credit score, read my posts on raising your score. Get on the right track. Rates are low, buy a house. Do something with your life, do not just sit stagnant like the economy.