How To Beat A Recession

You may have been wondering, how to survive a downturn in the economy that everyone claims is the worst since the Great Depression. These tips will help. Read on.

Create a Spending Plan (Budget)

Most people don’t like creating a spending plan, a budget. People are terrible at planning their finances, or no one would be in debt, and create a budget of their income and expenses. If you don’t have a budget you will never know where your money is going and you will never be able to build real wealth. It is actually much easier than you think.

Cut Grocery Spending

Eating less is a good idea. No, I’m not saying you should starve yourself, just cut out the processed foods and snacks. Many of the big chain grocery stores are open 24 hours a day, 7 days per week. Who do you think pays for that? You do! Instead find stores who offer the very same groceries at a discount and have set hours. Buy at local ethnic grocers because they have a lower markup which saves you money. From Spring to Fall buy at farmer's markets where you can buy directly from the source of your food, the farmer and they are much more willing to haggle the price.

Drive Less

Look at your driving habits. Do you like to step on the gas and then the brakes? You are wasting gas and putting unnecessary wear and tear on your car. Learn to be a light foot on the gas and coast to a red light or stop. Doing this alone will cut your gas spending by 25% to 30%. (A few people have gotten so good at this they save hundreds of dollars a year.)

You can find some deals on fuel in your town but before you hop in your car to drive all the way across town to save just a few pennies only to waste several gallons (money) isn't smart. I would hope your smarter than that.

Consider using public transportation. By leaving the car at home 3 to 5 days a week you will save money with less fill ups, less wear and tear and you can lower the insurance since your car is no longer a primary form of transportation. Real savings and less stress – or are you one of those people who just loves being in bumper to bumper traffic?

Walk more. It’s good for your health and shoes cost much less to replace than any single part on the car – tires cost an average several hundred dollars to replace, even used ones.

Make Money

Create an income for yourself to combat the cost of this recession. Do you have stuff hidden away in closets, the attic, the garage. Or, do you spend money every month on a storage space, locker or garage? What a waste! Go through your stuff, everywhere you store things taking out the things you no longer use and sell them online. You can sell these items for free on www.craigslist.org. If things don't sell, donate them to a charity and take them off your taxes.

Between money saving tips and an additional income (even investing in wise ways), you can survive, even beat this, or any, recession. (see my articles on creating an extra income)

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