How-Can-You-Survive-During-an-Economic-Recession

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How Can You Survive During an Economic Recession

An economic slowdown can happen at any time which means you should be prepared for it. Here a few tips so you dont get caught with your pants down till things get better.

1. In case you are in debt, get out as quickly as possible. If you need help, see if you can consult with a financial advisor who can help arranged your budget for you.

2. You should also switch your bills to be able to cheaper services. This includes electricity, gas, cellular phone, television broadband deals, insurance and maybe even your money.

3. There should also become cuts in every day spending. If you buy a great deal in the grocery, make sure that you finish whatever there is first prior to deciding to replenish it. In the event that there are items in promotional, buy them instead of everything you buy usually since they could be just as good or even better than what you are used to getting.

4. See if you can obtain free samples. This may sound silly but you are sure to find a couple of every time you visit the grocery. You can also remove some vouchers in gossip columns and then redeem it on your next go to.

5. For those who go to work, rather than going out and having lunch, make it at home next bring it with you to work. This includes coffee that you can put in a flask if right now there isnt any being offered.

6. It’s also wise to conserve on power by lowering your power bills and fuel costs. Perhaps you can ask your manager if you can work at home 2 or 3 times a week. If this is not possible, see if you can carpool together with someone from the business office.

7. If you own a big vehicle, perhaps it is time to sell it or industry it in for a smaller one because of much better mileage.

8. As for your own electricity, see if you can make positive changes to light bulbs to those together with lower wattage. Perhaps you can also put your heater down by one degree, reinsulated the spot or stop drafts coming from the windows and doors.

9. Reducing your expenses are not the only ways to survive an economic economic downturn. You can also make money by selling some things in a garage sale or renting out an additional room if there is somebody out there who wants a place to stay.

10. If you are employed in an industry that gets badly hit whenever cash is tight, perhaps it is time to switch to an additional career that is much more stable.

11. Since which will take some time and you will have to go to school for awhile, you can also engage in various other business on the side like bake cookies or sell some of the vegetables in your garden. Everyone has a niche which means you just have to know what it really is.

12. The last thing you can do to live an economic recession is to take advantage of the situation. If you have the money, invest in long term opportunities so you can sell it if the economy has enhanced.

An economic recession is really a fact of existence and this often lasts for months, which is why it is better to be prepared. You should remember that your ability to stay financially stable is the best you can deal with a potential loss of income and also overpriced prices.

Comments: 54

  1. Gerald January 28, 2013 at 3:21 pm Reply

    When did this economic decline start to begin with? I suppose this crisis hurt just about all industries available? However which industries do you consider may take a hit probably the most roughly because of it? (Retail, property etc, ) Thanks.

  2. Marcelene February 27, 2013 at 7:11 am Reply

    The United States of America and Europe are the richest continents in the world today, if they are affected with this economic recession I am afraid there is going to be problems if something is not done.

  3. Gary March 19, 2013 at 11:09 pm Reply

    Over a year ago, Sen. Reid promised to hold hearings into the factors responsible for the current economic recession. He even set the date, November 20, 2008. Well, here it is, one year later and still no hearings. You would have thought that given the scope, depth and devastation that this recession has caused that the senate would take the time out of the busy schedule to get to the bottom of it so that we can possibly avoid something like this in the future.

    Why didn’t he hold this hearing and is he still planning on having one?

  4. Joey May 6, 2013 at 4:11 am Reply

    Why is the recent US economic recession important to the rest of the world? how would it affect everyone?

  5. Sherill July 24, 2013 at 5:34 pm Reply

    We have been hearing about this economic recession for quite a while so i thought it would be apt to discuss about this issue.

  6. Chris July 26, 2013 at 8:21 am Reply

    I’m doing a paper for my business class and have to explain how the subprime loans led to the current economic recession. Thanks!

  7. Wilford July 29, 2013 at 8:04 pm Reply

    Is an economic recession a good thing or a bad thing for the common people?

  8. Eufemia August 28, 2013 at 8:28 am Reply

    How would an economic recession affect sporting events ?

    Weather its football , Basketball, or any other sport ?

  9. Valentin September 19, 2013 at 1:55 pm Reply

    What are you thoughts on the current situation? This week will be very interesting. Will you be making any changes personally? Do you think it would be wise to start to consider the possibility of a full economic recession? Unlike the US, Australia doesn’t automatically guarantee savings in the event a bank goes into liquidation. Are you confident in the government reassurances that our money will be protected?

  10. Jolene September 23, 2013 at 7:15 pm Reply

    I’ve been reading many news articles on what some say is currently an economic recession.. and what may be in a few months.

    However, they have been unclear on what effect this would have on a medium income family (aka, the average US family).

  11. Odell October 4, 2013 at 12:58 am Reply

    im doing a video for my advanced history class and the topic is the economic recession. any ideas of what songs i could use as the background music. the ones i already have is the money song, and shutting detroit down…. my grade depends on this, any songs that fit the topic would be great… thanks!!

  12. Robert December 29, 2013 at 7:50 pm Reply

    Why don’t Europeans and Americans socialist market system to prevent economic recession and collapses?
    Like China USSR(fmr.)
    to prevent recession after recession. Such system in the past give rise to ideologies like Communism and Socialism. in 1880s’.

  13. Ryan February 11, 2014 at 8:26 am Reply

    Did it start in the US? How does it have an impact in the rest of the world?

  14. Vernon February 20, 2014 at 6:35 pm Reply

    I am conducting a research paper on the economy and how the downturns have affected *students* in particular.I’m looking for answers for these questions, but anyyyyyyyy feedback would be greatly appreciated!!!

    Is the economic recession affecting you at all? On a scale of 0-10, 0 being “not at all” 10 being “Highly affected”
    Has the recession made you more pessimistic? About what?
    Are you resorting to criminal activity because you can’t get money?
    How is the recession affecting you school life – no extra money for books or extra classes and such? Are you reconsidering your career choice because of it?
    What about your social life? Has it caused you to stop going out because you’re in a tight squeeze?
    Would you even go so far to say that it makes relationships a bit more strained? (I mean, marriages are falling apart cause of it,so why not family relationships or friends even?)
    What about your morals? have they changed because of it?
    And your health? Is it being affected at all by the recession? How so?

    I really appreciate any answers I get =) thank you!!

  15. Shaun February 20, 2014 at 7:38 pm Reply

    when will the economic recession end or GET BETER???????? what will the job market be like this summer?

    of my current job, I dont like the current hours I have and what do I do about it?

  16. Hipolito February 20, 2014 at 9:15 pm Reply

    I hear talk of how we’re on the brink of going into a recession, and I was wondering how that would affect jobs, prices of goods, etc, in our everyday life.

  17. Lanell February 20, 2014 at 10:36 pm Reply

    Can anyone explain what exactly is a Recession, and do you feel that we are in one currently? Also whom of the presidential candidates do you feel is capable to help with it?

  18. Weldon February 20, 2014 at 10:40 pm Reply

    i am a kid teenage but i dont understand the recession

    1. how was it cause
    2. who does it affect
    3.how will it get better
    4.how long til it gets better
    5.how ba will it become in australia

    please use easy to understand language

  19. Floretta February 20, 2014 at 10:53 pm Reply

    What do think caused the U.S economic recession ???

  20. Hal February 20, 2014 at 11:03 pm Reply

    hi all.. can anybody give me a good and satisfying answer why this economic recession is on the whole world… i have read all articles but i am not satisfied with their answers.. thanks for ur time and consideration

  21. Thuy February 20, 2014 at 11:13 pm Reply

    And do you think that there will be one soon?

  22. Charlie February 20, 2014 at 11:22 pm Reply

    what could be some of the negative effects and any possible positives for a working class citizen?

  23. Vergie February 20, 2014 at 11:43 pm Reply

    What was the cause of this economic recession, could it be because of the war in Iraq, what?

  24. Mike February 21, 2014 at 12:39 am Reply

    What’s your GUESS ?

  25. Tami February 21, 2014 at 1:15 am Reply

    Michael Moore is making a movie about Capitalism, saying that it’s the reason why we’re in this economic recession. I’ve heard a lot of Americans tell me that Capitalism is flat out pure evil, greed, and needs to be done away with. Is Capitalism really the reason why we’re in this economic mess?

  26. Jocelyn February 21, 2014 at 1:25 am Reply

    i need to write an essay on this topic .

  27. Sharolyn February 21, 2014 at 1:33 am Reply

    With the economic recession, have rates for return on investment – specifically GIC rates – increased or decreased? Why would this happen?
    I have noticed that the rates are somewhere between 10 and 15% on average. Is this accurate?

  28. Ione February 21, 2014 at 2:23 am Reply

    I want to know from the beginning what this economic recession is. I am a young boy so try using some easy to understand words. Thank you in advance.

  29. Kip February 21, 2014 at 2:29 am Reply

    By ‘doing well’ I mean they either see upturn in popularity/sales/importance.

  30. Leonida February 21, 2014 at 2:36 am Reply

    Will it end in a war like second world war.

  31. Quiana February 21, 2014 at 3:07 am Reply

    can someone explain this economic recession thing to me? I don’t really understand, but the way one of my teacher talks about it, i am really worried. what does it mean? are we going to go through another depression?

  32. Mack February 21, 2014 at 3:30 am Reply

    hello,

    there are lot of depressing articlesnews about global recession and this is been going on from 2008-2009 now. I wanted to know if anyone knows linksdocuments as to why this is happening *still* in detail. I am aware of debt crisis of 2008-2009 but it somehow does not seem to get over even three years later.

    Thanks,
    -Neel.

  33. Rey February 21, 2014 at 3:56 am Reply

    If any one can help please.

  34. Corinna February 21, 2014 at 3:59 am Reply

    What are some things that will determine when it is over?

    As rapidly as we collapsed, will we see such a quick rebound in employment and wages?

    Was this just a natural part of inflation? I.e. should we expect to never be able to purchase goods and services with pre-recession ease? What I mean is, I’ve noticed income to cost of living seemed better in the past and worse today. We have more “things” we need and can buy and they are more expensive. For instance my father made about as much as I am making today, in the 70’s. I garuntee that went farther then or so he has indirectly told me when recalling his tuition rates rent and car costs.

    Is this another thing that widens the gap between prolitariate(spelling?) and bourgeios(spelling?)?

  35. Soraya February 21, 2014 at 4:06 am Reply

    And what is the difference between a recession and a depression?

    Answer all three questions thoroughly and in detail. Be courteous, considerate and non-hostile.
    Please and thank you =]

  36. Neida February 21, 2014 at 4:18 am Reply

    What is a ‘Recession’ of an economy and how can it be compared with inflation and Hyper-inflation? And is ‘economic recession’ only applicable to the US economy only?

  37. Bettye February 21, 2014 at 4:44 am Reply

    So i have to write a mini news cast for social about the economy right now, and i’m really confused about what is happening. i know we’re going into a recession, but i don’t really know why.

    if someone could summarize what exactly has been happening in the last week and why, related to the economy that would be great

  38. Jorge February 21, 2014 at 5:05 am Reply

    Please add a little detail if possible

  39. Micah February 21, 2014 at 5:17 am Reply

    I hear talk of a possible recession in Aus, but I was not around when the last one occurred. Can someone tell me what excactly ( I know that it has an impact on the eccomony ) but what sort of impact does it have on the individual or family?
    Any info will be helpful thanks

  40. Rosendo February 21, 2014 at 5:45 am Reply

    Many of my friends and colleagues have been discussing the global recession more and more, lately. Almost all say the same thing, “I wonder when this would be over” over and over I keep hearing this.

    ——–This is what has stimulated this comment (yes, its not a question, report it if you want). Anyway, since I follow overseas news stations that report on banking mergers and country talks (example: france, kuwait, saudi..and other countries), I figured I’d inform the uniformed.

    The recession will end when the globalization efforts have succeeded. When? Well, I can not say for sure, but according to factual evidence of bank and country efforts to increase the intensity of the process, I would assume the world’s economic functionality will be *allowed* (yes, I am indicating this crisis is orchestrated) to resume (prosper) in the end of 2009-mid 2010.

    P.s. I’m not looking for you to agree or disagree with me, I need no reassurance of my findings, rather, I figured I’d inform those whom may be unsure….

    Take it the way you want to, feel free to call me names and insult me, also feel free, if you are aware of reality, to inform and confirm my findings.

    Peace

  41. Mary February 21, 2014 at 6:18 am Reply

    The 1930’s saw one after all the reckless excess of the 1920’s, so is this a likely occurrence in the near future?

    Also, have HIGH ENEGRY COSTS helped a lot to move the economy in that direction?

    Also who swallows the costs of overnight high gasoline price spikes in the USA?

    Where does the money come from, how is this paid for….more credit?

    p.s.
    Please no “Gas has always been high in Europe or ___” type answers please, since this is focused on the USA and the world by default of economic impact.

    So, USA depression similar to or WORSE than the 1930’s or not?

    If not, then why?

    If so then why?

    Thank you.

  42. Vernon February 21, 2014 at 6:46 am Reply

    I predict it will take another 10-15 Years
    Alex. You are very well read and smarter than the average bear, But it will be a long time ( IF EVER )before the UK is as strong as it was during the height of the “Yuppies” in the 1980,s

  43. Meta February 21, 2014 at 7:23 am Reply

    Why has there recently been so much volatility in the markets of late? Seems like the recession is going to be in full swing. What are bad signs in a progressive economy —-could we have foreseen this when we were so bullish about the markets? Also, wasn’t bush’s economic stimulus plan a little too superficial? I mean, giving cash is not the long-term solution to an ailing economy. We need to raise taxes on some segment of society.

  44. Patricia February 21, 2014 at 7:29 am Reply

    Well I guess it is safe to say that we are offically in a recession. However, some are claiming that we are in a real bad situation, while others think it is not that bad and will get better.

    My question is, what do you think of our current economy and our future? Also, are we better off now than we were at the end of the “dot com” boom, which was our last recession?

  45. Nancee February 21, 2014 at 7:39 am Reply

    I learned in class that there is something called a business cycle and this it what causes recession and such things because it happens over a period of time and its meant to happen. I dont understand why its suppose to happen if the economy is doing fine…?

  46. Karly February 21, 2014 at 8:13 am Reply

    Aside from the Great Depression being the worst economic catastrophe in American history I wanted to know which recession was worse and why. Was it the 1982 Recession with skyrocketing inflation, the 1992 Recession with skyrocketing unemployment, or was it the 2008 Recession with a collapsing Housing Market? Thanks

  47. Mary February 21, 2014 at 8:25 am Reply

    Any help at all is welcome 🙂

    1. What are the functions of economic recessions?
    2. How has the government tried to correct those recessions?

  48. Chae February 21, 2014 at 9:33 am Reply

    Is the current recession worse than the 30’s? How bad are things in comparison?

    In the last 100 years what has been the worst recession and why?

    Sorry I’m not experienced in economics, just want a perspective on how “bad” things actually are. Thanks
    great answers so far, thanks!

  49. Dino February 21, 2014 at 9:48 am Reply

    …in the US…economists said it was a very short recession–8 months
    I don’t care when it started…2000 or 2001…what caused it?

  50. Elvin February 21, 2014 at 10:41 am Reply

    I would much rather their be a system that doesn’t need any taxes. Sadly, the world has to have taxes and the redistribution of income, in my mind. I think it is our duty to provide basic things for the people of this earth. If they want to be lazy, then they won’t ever get much more than the basic things. Most people are happy to work if they know they are appreciated and are paid okay.

    I think that the core problem in this world is that there is a lack of structure. Everybody pulls and pushes on political issues but no real solution has been offered in my eyes that would really stabalize the world and lead to the following:

    an increase in the overall intelligence of the world’s people (this would decrease poverty and crime and lead to increase in quality of life) and an increase in the average intelligence of each individual,

    a decrease in poverty and the extremes of poverty (once again this would decrease crime)

    an increase in the appreciation of the workers of the world and the increase of quality of products/ services,

    the efficient allocation of natural resources,

    and the management of population.

    The problem is that some of the things I just listed can sound really scary if they are done the wrong way. I don’t think people should be told how many children to have. I think that a world should exist where we don’t have to worry about things like this because there would be a place for all these people. I could go on, but I will stick with what I have written.

    So, How do YOU propose?
    I realize I have mispellings in my question.
    Doug, I am self reliant. What are you even talking about?
    Hwinum, so, because you are quite pessimistic, you must be quite old?

    That is not a good argument.

    If you think that the Fed should be ended, why?

  51. Kurt February 21, 2014 at 11:33 am Reply

    So im doing a speech on the economic recession and just need a few ideas like how has it affected the unemployment, the banking system and the housing market?? Best answer gets 10 points!

  52. Guillermo February 21, 2014 at 11:54 am Reply

    just a short summary of it.

  53. Marisha February 21, 2014 at 12:48 pm Reply

    Can you list the 3 biggest factors of the recession?

    And a side question…when one looks at a stock chart…the graph is not a straight line, rather a “spiked line”. Why is that?

  54. Darwin June 25, 2014 at 12:09 am Reply

    I’m not a good researcher, so please help and provide me some ideas and websites for the questions. thanks a lot!!

    1.How has 1997 economic recession in singapore impacted the economies at the time?
    2.How significant was the problem?
    3.What events resulted in the macroeconomic problem?

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