7 steps to surviving the rough economy

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1. Understand that the rules have changed. The very first step is to change your “mind-set.” What worked before won’t work now. In the past, debt allowed you to have things today and pay for them tomorrow. ...snip...
My mind set never LEFT this pattern, so how have things changed? Don't buy what you can't afford


2. Take an honest look at your finances. Start by making a list of what you owe — and what you own. ...snip...

I owe - 5 more months on my truck at 0.0% - Thank you - I'll use THEIR money for the rest of the 5 months - and my fixed rate 6% Mortgage - from 2001 - and I put down about 35% on the house


3. Cut your expenses....snip.. Yep - done that, there are still place to cut, but I do like my daughter taking Dance, and my son playing soccer. Next Month, FIOS comes to my block, and I can save $20/month by making the change, so I will

4. Earn more! It’s easier said than done, I know... I've been pulling in side work for years

5. Deal with your debt. In spite of the Fed’s action, rates on credit cards may be slow to drop, so pay extra to lower your balances. ...snip... No balances - I've always treated a "credit card" as a "charge card" - Full balance gets paid on the 1st of the month - remember what I said about NOT buying what you can't afford?

6. Keep investing. ...Maxed out on my company IRA - wish I could afford to invest more, but...

7. Stay optimistic. ...snip..

Actually, I don't think times are that bad - if you look at historic unemployment levels they are actually quite low, yes, we are having some nasty for recent term memory inflation on fuel and food, but even those, by historic standards aren't so bad

It's just that we've become a "Gimmie Gimme - NOW" culture. I took my parents stories of the Depression to heart as a kid. I remember the 70s - When we get to double digit inflation AND double digit unemployment, at the same time - wake me up