The recession's coming, be prepared

[HeyWayne]

OK, this is the first recession that I have "lived" though - having been an art student during the last one I didn't really appreciate a recessions' full effects.

Given that they seem to occur every 8-10 years or so it's probably prudent to start preparing for the next one.

So, for those that have "lived" through more than one, how do you prepare?

[Jeanied]

I think some self-sufficiency helps, along with not fretting if you don't have something you thought you wanted. I learned my 'make do and mend' lessons during the 1970s- power cuts and the 3 day week etc.

[Flummery]

You can only prepare for a recession by not over-extending yourself - ever. Live modestly and a recession won't hit so hard.

[Glutton4...]

Learn the difference between 'want' and 'need'

[HeyWayne]

Learn the difference between 'want' and 'need'

I'm married - I learned that years ago.

[Nicos]

Simples- spend as much as you can whilst you can!!!!
No point saving for a rainy day cos the interest rate'll be rubbish!!!

...well- that's one theory!!!!

[stevemac]

Learn the difference between 'want' and 'need'

I'm married - I learned that years ago.

Genuine LOL there

[Brengirl]

It is possible that I have lived through several recessions but to be honest I couldn't see a difference. If you always keep on an even keel and be prepared to take lifes and downs the bumps won't hurt you. The danger comes when the going is good and you take it for granted. Coming down from a high can be quite painful.

[Alison]

Learn the difference between 'want' and 'need'

Always a good plan, am much happier since I started living that way

Simples- spend as much as you can whilst you can!!!!
No point saving for a rainy day cos the interest rate'll be rubbish!!!

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!! Sorry, always hate it when people talk about spending everything they have, seems so short sighted!

[Nicos]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!! Sorry, always hate it when people talk about spending everything they have, seems so short sighted!

.........

[Liza]

I was asked what I thought about the recession......I thought about it, and decided not to take part

[Florence Fennel]

Learn the difference between 'want' and 'need'

Second that

[binley100]

Always a good plan, am much happier since I started living that way



NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!! Sorry, always hate it when people talk about spending everything they have, seems so short sighted!

I agree but also you can't take it with you so in moderation enjoy what you've got.

[Two_Sheds]

I was made redundant during the last recession (1994). I haven't worked full time (paid work) since.

...but I have learned to be very creative, crafty, frugal... and I know I can survive anything that's thrown at me.

[Two_Sheds]

I agree but also you can't take it with you so in moderation enjoy what you've got.

Yes, whilst remembering that the credit card isn't "what you've got" it's what the credit card company's got