There are good times and bad times. Right now we are having bad times because we have a troubled economy. It is a worldwide problem and people like to refer to it as an economic depression that needs to be addressed right away. There are possible solutions to survive this problem and most methods are practical.

Accept the reality. One of the most important things to do is for a person to accept the reality of the problem. You don’t have to panic. Keep in mind to be calm and cool and start to do some clear thinking, which means you think of ways on how to deal with the situation. Because you are in control of your emotions, you can plan your ways to survive more properly.

Budget your money carefully. Try to be frugal in spending money, saving as much as possible for emergencies and job loss. If you can, try to stretch your money a bit more.

Patronize local brands. Buy locally made products in bulk and take advantage of discounts or promo coupons. Buy clothes in thrift stores or second hand stores instead of buying luxury branded clothes in malls. If you want to go out with the family, look for cheap and free entertainment, or just do family games like darts and scrabble at home.

Make a list of your debts and assets. Try to pay down cards and loans. If you can do it, take a second job to make some additional income to pay your debts. Also, keep in mind that the procurement and storage of current assets should also be among your priorities.

Save on gas by having car pools. Change or trade in your car for one that consumes lesser fuel. Try riding the bus instead of driving your car every day.

Try to cook. It is also good to develop your cooking skills to save on food costs. Instead of buying a lot of bread or cookies and other foodstuff, learn to bake them yourself. Study some preserving methods of foods like home canning. You can develop your gardening skills and plant some vegetables for your own consumption. You can then make some fast and healthy dishes for your family.

Learn new skills. The job you have may be affected by the economic depression. If so, you need to learn new skills to do another job. If you want to do home based jobs, you can learn some tutorials on line and start doing your business by writing, advertising or teaching on line.

Start a small business. If you still have more than enough savings, you can start a small business like a thrift store, a second store or consignment shop. This is a good time to have this kind of business since more people turn to these stores to buy what they need instead of the big retail stores.

Keep in mind the three R’s. It can be said that the main key to survive the economic depression is to remember the three R’s–reduce, recycle and reuse. Do whatever you can of the things you have now instead of throwing or buying. Save money and be flexible in everything you do.

Jonathan Pitts

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