How to Survive a Recession

Bulls,Bears,what ever you call it .....
Today's Stock Market Sucks !!!
It is time to prepare for the possibility of a recession.
That is why we are here.

Difficulty: Moderate

Instructions

Things You'll Need:

• Pioneer Spirit
• Ingenuity
• The Spirit of Survival

1. 
    
   Time to get serious about a disaster plan

   You will need to take a good look at your financial situation and evaluate items like:
   1) Equity in your home and / or your vehicle
   2) Cash on hand
   3) Valuables you wouldn't mind liquidating

2. 
    
   Let's Get Real

   Now take the information you gleaned from the inventory of your financial situation and this should give you a rough number of what you would come up with should you liquidate.

3. 
    
   Give This Some Thought

   Now you are ready to start the process.It will not be instant,and it will require you to have your head on straight.This will probably take 3 months to complete.

4. 
    
   Simple as Putting Puzzle Pieces Together

   If you live in a high end home....think about selling it.If that is not possible at this time then maybe refinance to lower your payments.Do whatever you can do to lower your shelter costs.
   Heat and Utilities,is an alternate heat source a possibility for you?
   Wood heat via a fireplace or buck stove.Low flow shower heads and commodes.

5. 
    
   No lipstick on this Pig

   Your Automobiles,Again.....liquidate if at all possible because if you have car payments,then you are required to carry full coverage insurance on the vehicles,On the other hand if you have inexpensive cars that are paid for then you need only carry low cost property damage and liability insurance....so you will save money several diffferent ways by downsizing to less expensive and smaller more economical automobiles.

6. 
    
   Money Saved is Money Earned

   Have a series of yard sales getting rid of a lot of things you no longer need....sell sell sell and downsize,liquidate etc.

7. 
    
   Always Keep Some of Your Assets in Cash and Handy

   OK...we have covered different ways to put some cash together for a cushion to fall back on.
   Now,Take a second job,(part time),in a recession proof industry...
   Food or Health Care
   If you liquidate,sell,refinance,downsize and take a part time job in a recession proof industry,stash some cash close by in case of emergency then you should be fine in a recession

Tips & Warnings

• Do not forget to clip cupons for everything you purchase
• Maybe try the grocery game as described in one of my articles.