How to Fight the Economy

We are all having tough times during this economic slump. However, there are a few things you can do that can help keep you less stressed and safe with this unstable economy.

Difficulty: Moderately Easy

Instructions

1. Take an inventory of what you have. Make sure you have enough money to pay the bills for a few months, and make sure to include money for food, gas, and anything else that would be a necessity if the economy failed.

2. Keep a list of items that need to be fully stocked, such as medicine, baby formula, and other items that could become scarce. Always have enough of these important items to be able to survive if stores close or the value of money drops even more.

3. Don't spurge your money right now. Instead of spending money eating out or buying a new outfit, take that money and but it into savings, or even a secure spot in your house. This way you are still spending that money, but also still have it for the future.

4. Take the money you are saving and put it into a savings account that gains interest. Even if the interest rates are low right now, anything is better than nothing. Keep adding money to the savings account regularly, and let the interest gain.

5. Don't stress. The worst thing to do in an economy like this is to go overboard and overreact. During the Great Depression, everyone got scared and took all of their money out of the bank, which left the banks empty and not able to cash out. Instead, take preventative measures to ensure you will be safe if something bad happens. Try growing a garden full of easy to grow vegetables, and always have gas cans at home full of gas.

Tips & Warnings

• The best thing to do is to start preparing now, before everyone else beats you to it.

[sonni57]

on 2/27/2009 Right on time article I appreciate your help

[mfahrney]

on 2/27/2009 Great "true" advice..thanks!

[lastgunslinger]

on 2/26/2009 Great advice for how to survive such a turbulent economy. Thanks for sharing. 5*