Survival Recession Stategies
As we raise our heads in victory for surviving a recession, we take stock of what is left. It is no surprise that many of us have lost our homes because we did not have the backup funding to take over the lack of a paycheck. Are there survival strategies that can be done to prevent some of the hardship that a recession causes a single person, a business or a family?
Some restructuring of what you feel are necessary survival defense strategies that you need to be put in place. Since so many people live from paycheck to paycheck, it is probably a good idea to start with cutting expenses before deciding on the savings. Once expenses are reduced, it is easier to see the excess and contemplate saving. It will also give you the absolute number of dollars you need for survival.
Food
How often do you eat in a restaurant? This includes fast food, dollar menus and any food purchased prepared outside the home. Stop! If the restaurant can sell it for one dollar, you can make it for less at home. They would not include it as a menu item if it wasn’t making a profit.
Food banks are wonderful for supplementing your grocery shopping. Pride often gets in the way of practicality. When your cupboard is getting low and the finances are even lower, consider a food bank as a supplement. There are different types of food banks. Some are independent facilities that charge a small amount of money to get a box of food. Others are open and give the food you need at no cost to you. Often they are one of the best kept secrets in a community. Many folks do not want friends to know that they required a food bank.
Clothing
During a recession, many people will send their higher end clothing to make a few dollars. This clothing is then priced at far below retail value to allow others to buy for their own use. This is not just for adults. Children outgrow clothing at phenomenal rates. It is better to sell the outgrown clothing then to just donate them during a recession. Others can go to the store and buy the gently used outfit for their child to wear with pride.
Finding a second hand store in an upscale neighborhood will probably be more satisfactory. The people in those areas like the best on the rack. When they have tired of them, they sell them at a reduced price in a lovely store.
Transportation
How many cars do you have? If you are married, and just one partner works, is it vitally necessary to have two vehicles? Probably not! Perhaps one car could be parked in the garage and not driven until things get better. It will get better. This will save on insurance fees as well as gasoline.
By planning your driving trips to coordinate with the working partner you make lists. Lists of sales in specific grocery stores or drug stores will benefit greatly. If store hopping is not high on the list of favorite things to do, find the store that has most of what you need on sale. Grocery stores have sales in cycles. Pay attention to what is on sale this week and when it comes up again. You can plan accordingly. Coupons may help if you have to have brand names and not store brands. Store brands have improved over the years, and you do not need coupons for many of them.
All of these tips can help survive a recession. Pick one and carry it through to see if it will benefit your life.
Some restructuring of what you feel are necessary survival defense strategies that you need to be put in place. Since so many people live from paycheck to paycheck, it is probably a good idea to start with cutting expenses before deciding on the savings. Once expenses are reduced, it is easier to see the excess and contemplate saving. It will also give you the absolute number of dollars you need for survival.
Food
How often do you eat in a restaurant? This includes fast food, dollar menus and any food purchased prepared outside the home. Stop! If the restaurant can sell it for one dollar, you can make it for less at home. They would not include it as a menu item if it wasn’t making a profit.
Food banks are wonderful for supplementing your grocery shopping. Pride often gets in the way of practicality. When your cupboard is getting low and the finances are even lower, consider a food bank as a supplement. There are different types of food banks. Some are independent facilities that charge a small amount of money to get a box of food. Others are open and give the food you need at no cost to you. Often they are one of the best kept secrets in a community. Many folks do not want friends to know that they required a food bank.
Clothing
During a recession, many people will send their higher end clothing to make a few dollars. This clothing is then priced at far below retail value to allow others to buy for their own use. This is not just for adults. Children outgrow clothing at phenomenal rates. It is better to sell the outgrown clothing then to just donate them during a recession. Others can go to the store and buy the gently used outfit for their child to wear with pride.
Finding a second hand store in an upscale neighborhood will probably be more satisfactory. The people in those areas like the best on the rack. When they have tired of them, they sell them at a reduced price in a lovely store.
Transportation
How many cars do you have? If you are married, and just one partner works, is it vitally necessary to have two vehicles? Probably not! Perhaps one car could be parked in the garage and not driven until things get better. It will get better. This will save on insurance fees as well as gasoline.
By planning your driving trips to coordinate with the working partner you make lists. Lists of sales in specific grocery stores or drug stores will benefit greatly. If store hopping is not high on the list of favorite things to do, find the store that has most of what you need on sale. Grocery stores have sales in cycles. Pay attention to what is on sale this week and when it comes up again. You can plan accordingly. Coupons may help if you have to have brand names and not store brands. Store brands have improved over the years, and you do not need coupons for many of them.
All of these tips can help survive a recession. Pick one and carry it through to see if it will benefit your life.