Here is the first part in my "surviving a recession" series... As always I like to hear your thoughts and comments! You can find more on tomorrows post and at http://www.NoExcuseBudget.com


With all the the recent turmoil in the housing market, stock market and the rise in gas prices it's normal to wonder how you and your family can survive a recession. You should be happy to hear that you are already on your way to not just surviving, but thriving in a recession, "why" you ask, because you actually have taken time out of your life to read this and care. The first step to learning how to do anything is to want to know and to search out answers.

From here there are many ways to survive any adverse economy. Lets look at some basic ideas.

1. If you have a job do your best to keep it. If you don't have a job, get one, even if it's not your dream job.

2. Consider taking on odd jobs to either pay down your debt or to build a safety cushion fund in case you do end up loosing your job.

3. Redo your budget. Write every expense you have on the No Excuse Budget Forms. Go line by line and eliminate or lower every possible expense.

4. Contact all your creditors and ask for lower rates. Call your credit card companies, your phone company and your bank, ask them all to lower your rates or fees. If they say no call them once a week until they give you something.

5. If you have a high interest rate loan or one that is about to reset, and you plan to stay in your home for any amount of time, call a trusted mortgage broker and see if your mortgage can be refinanced into a fixed, lower rate mortgage.

6. Don't put all your eggs in one basket. Don't count on your job always being there. Don't count on your credit lines still being available and if you are self employed don't count on always getting work from your biggest client. There is a reason that you hear the saying "diversify" and "multiple streams of income". Think of other ways you can bring in money and do it now. Start right now. I can't tell you how many times I have heard people say they wish they had started ____________ sooner. It takes time and money to make money, start right now.

7. Save any extra money in a high interest savings account. I like The Orange Savings Account It all adds up and every penny counts. As interest rates are lowered your local bank will offer lower and lower rates. Put your money in the highest interest account you can find. If you have more than 6-12 months living expenses you can afford to put the remainder above your emergency savings into more aggressive places like stocks and bonds.

8. Put your kids in public school if you have decent schools. Buy a better fuel economy vehicle if you can get a loan that has a good rate and/or you drive a lot.

9. Rethink your insurance. Make sure you have enough and that you are getting the best rates. Shop around. Nothing can be a budget killer like not having or not having enough insurance.

10. Watch for signs and act before they act for you. Is your current job showing signs that you might not have a job for much longer? Are your paychecks late? Are sales down? Start putting together your reseme and possibly even start interviewing. If you do lose your job immediately file for unemployment and start looking for another job. This is no time to feel sorry for yourself. Act immediately.


Remember it's all about money. Money coming in and money going out. Your goal is to bring in as much money as possible while, save as much of that and limit what goes out. Easier said than done at times, but you get the idea.

Here are more easy ways to save without crimping your style :-)

Get rid of any reoccurring charges that are not absolutely necessary. How many subscriptions to random things are on your credit card?

Consider getting your hair cut at a discount chain instead of your normal salon, even alternating between the two can save you money. Just for the record I get mine cut for less than $12 ($7 if I have a coupon) and I never thought I could leave a salon and a long time hairdresser, but I like the way the budget salon cuts it more... same with my nails!

Make your coffee at home. Even if you have to have Kona coffee or another expensive type making it at home at save.

Eat at home.

Use your coupons.

Buy an entertainment book.

Find a mechanic that is not only good at fixing cars, but does it for a good price.

Indulge in small ways. If you see flowers on sale for a cheap amount buy them every once in a while. Seek out ways or places to buy things that make you happy that offer them at a good price.

Use a reward credit card and actually use the rewards. My favorite credit card gives me rewards to book stores and animal supply stores... needless to say I never "buy" books or pet food... I love the library but sometimes I want to buy a reference book, or a special book for my kids, and I save the gift certificates for these reasons.

Don't become the local animal shelter. A lot of animal lovers are faced with this real problem. Once the word gets out that you are animal friendly, your home suddenly becomes a zoo. Don't let this happen to you.... it's expensive and counter productive. Instead make arrangements with an area non-kill animal shelter to bring in these homeless pets and spend your time helping at the shelter. The shelter has arrangements with Vets, food suppliers and more so your donations can go farther than they could if you opened up shop in your home.

Shop at thrift stores. This is the hardest for most people. There is a bad connotation with shopping and using stuff from thrift stores. As long as you really clean your finds you can get absolute bargains! When my children where younger I was able to buy those big plastic play structures for about 10% of their "new" cost. I cleaned the heck out of them till they shined like new.... and then sold them for a profit when my kids where done playing with them!