Economic recession means that our nation’s economy is stagnant or going down for the last two quarters. To survive the recession, it will all start from you. First thing should be finding a stable job that could likely survive the recession. This would include jobs related to education, health and public administration. On the other hand, avoid jobs that are associated with construction and retails because these rely on cash surplus in the economy.
If you have a job or other source of income, make sure that you allot a certain percentage from it for your savings. Learn to live your life with lesser amount than your actual income. Having a well-planned budget decreases the tendency of buying unnecessary items that will surely overshoot your monthly budget. Prioritize your needs over wants. Being practical nowadays will also allow you to avoid having much debt. As much as possible use cash and don’t engage yourself with debt. If you are already engaged with debt, now is the proper time to pay them slowly by slowly as the interest rates will bury you down
You could also save some money if you will learn how to do household chores yourself that you usually pay others to do for you. Instead of buying instant food from a fast-food restaurant, learn how to cook your favorite meal and other simple menu. You could also study gardening, fixing of household items, and painting, among other household errands.
Setting these goals with firm decision to follow and enact them will likely help you to survive the recession. The nationwide effect of economic recession could be counteracted if each of us will do our own little and simple way at home. After all, great things begin at the basic foundation of the society, which is our home! Take your part now and don’t wait for 2011.