How to Recession Proof Your Future

We are in one of the worst economic recessions nowadays. Unemployment rates are high. It is important to think about your future and recession proof your life. This article talks about some of the things you can do to recession proof your future.

Difficulty: Moderately Easy

Instructions

1. Be proactive! Planning is the key to recession proof your future. Plan and budget your money so that you save some in case something unexpected happens.

2. Recession proof your job. Some jobs are not affected by recession and are always in demand. If you are thinking about changing careers, why not try to pursue a recession proof job. An example: nursing.

3. Recession proof your future with a second job. A lot of people have hobbies; why not turn it into a part time job. It can benefit you greatly in case you are laid off in the future.

4. Recession proof your future by paying off debts. Make paying off debts a first priority. Any excess money should go into paying down debts before anything else. Debts usually carry an interest rate and will grow to a large number over time.

5. Recession proof your future by paying cash for most items. Buy not borrowing; you can avoid interest rates and paying more money for an actual item.

[jbechtold]

on 2/3/2009 Good points. My husband has 2 jobs I work part time and have an on call job as well. We only need the income from his 2 jobs so the rest we save.

[bar10dr98]

on 1/8/2009 Great info!

[Cherst1031]

on 1/8/2009 These are truly helpful ways to survive this recession. I am amazed at the people I know who are carrying on as if it is ok to keep charging and living beyond their means.

[dasbootjoe]

on 1/7/2009 Very timely article! Great job! Thanks for sharing*****

[lizsto]

on 1/7/2009 Great reminders...especially these days!