How to Survive This Economy?

In 2009, many Americans are experiencing financial woes. Fewer people are saving money, and banks are getting rich from non-sufficient fund charges. No one knows when this economy will start improving, but you can learn some helpful tips to survive this economy.

1. Why you need to stay at home on the weekends? - A night on the town can be expensive. A few alcoholic beverages at a night club may cost $12. Do not forget about parking costs and the cover charge to enter the club; these expenses may add another $15 to your bill. What if you decide to buy a few drinks for other people? Most people eat a meal before or after they drink alcohol. By the end of the evening, you might spend $50. This is money that you can use to start an emergency fund? Alternative idea: Rent a movie; it will cost you $5.00 at most.

2. Do not date as much. – Dating can be expensive. A nice restaurant may cost you $70 or more, if you decide to pay the entire bill. What if you date two or three times a week? It doesn’t matter if you make a six-figure income. In this economy, people need to become savers because most of us do not have job security. Alternative idea: Get married and stay at home!

3. Pay yourself first! – It is an old cliché. However, some of us need to force ourselves to save money. If you lose your job tomorrow, can you afford to survive 6 months with no income? Unfortunately, many people in our society cannot afford to raise their hand. Therefore, you can start a saving plan, today, after you finish reading this article. Alternative idea: Continue to live life on the edge.

4. Do not joyride! – I know gasoline is longer $4 per gallon, but those gasoline companies took a lot of money from us last year. Some of our credit cards bills still have gasoline charges from last year. You might want to pay your bill in full because 25% interest can hurt. Alternative idea: Run out of gas after your credit card is declined.

Analysis

This article is not meant to be funny. Some American families are praying for payday to come. People are losing their homes and other assets on a daily basis. These are poor economic times, and we need to practice financial constraint if we can lose our primary incomes and not be able to survive for the next six months without any additional income.

Disclaimer: This article is considered general information; this is not meant to be considered financial advice. See your financial profession for specific saving options.