How to Cope With a Recession, Depression or Bad Economy

Tips and techniques that can help you and your family to effectively cope with the stress of a recession, depression or bad economy.

Difficulty: Easy

Instructions

1. THINK HAPPY THOUGHTS:
   
   Limiting your exposure to negative conversation, reading material or T.V. and radio media can have a significant effect on how you view your own circumstances. It encourages a balanced view of your problems, rather than a negative one, and you can begin to view your problems as a challenge rather than a threat.

2. REACH OUT FOR HELP:
   
   Ask elderly friends and relatives for any tips on how you can make the need transitions and adjustments to deal with the economic changes in a thoughtful way. Chances are that they, having had numerous experiences in their lives, can offer a good dose of practical advice.

3. BRAINSTORM AND GATHER:
   
   Libraries provide an excellent catalog of books that provide numerous ways to save, earn or budget money. Looking into this rarely-tapped avenue of knowledge can prove to be more helpful than you'd think.
   
   Visit websites and online resources that share tips on how to save or earn extra money. Take notes describing what would help to aid your situation.

4. HAVE A DISCUSSION:
   
   Have a family discussion. Try to think up many ways to save or limit what you spend. Decide what is really needed and what can be temporarily eliminated from your spending budget. Invite everyone to share their thoughts and make it a family effort.
   
   Try to have regular discussions with your family to see if any progress has been made and if any adjustments may be needed.

5. KEEP THE GOAL IN SIGHT:
   
   Post your budget goals on the fridge, tack it on the wall or place it on any other common area in your home (or office). Keep your goals in sight for you and/or your family to see.
   Repetition is the best way to remember your goals and increases the likelihood that you will stick to them.

6. TAKE ON THE CHALLENGE:
   
   Put your plan into action. Use coupons for extra savings, save receipts in case an item should need to be returned, Try to clump all shopping or errand trips together to save on gas..
   
   Put the tips you've gathered to good use!

7. REMEMBER WHATS IMPORTANT:
   
   Remember, this won't last forever. You may not be able to afford all the things you'd like for a while, but you will be able to stay afloat.
   
   So, for now, keep an optimistic view and focus on maintaining the 3 things you really DO need: Food, Clothing, Shelter.

Resources

• 100 Great Money Saving Tips