SUREFIRE WAYS TO THRIVE DURING A RECESSION

SUREFIRE WAYS TO THRIVE DURING THE RECESSION

By Lady Simone

Ever wonder how many people are still doing well during the recession? In fact they will tell you, quite matter of factly, "This is not a recession." According to Georgia Woodbine, a gifted motivational speaker, "This is merely a reality check.... What have you been doing with your time and your resources people?" So here are some tips (some of them are suggested by renowned financial advisor, Suze Orman) to beat the recession blues.

1. Save more money each week or biweekly. Whatever works for you, it could be as little as $50 each week or $100 every two weeks. It really does add up. If you save $50 each week for five years you will have over $13,000, not including the interest. What can you do with that? For some, that's a downpayment on a house. Think about it and save more if you can.

2. Have some discipline for heaven's sake. Don't walk in shoe stores if you know that shoes are your weakness and you have no willpower when it comes to beautiful shoes. It might a weakness for pretty clothes. Eradicate all unnecessary expenses from you life. Check your bank statements each month and circle all the things that are not necessary. You'll be amazed at what you overspent on or spent on a whim.

3. If you are always paying bills late try setting up automatic payments. Each month the bank will deduct the bill from your account. This way you can build up your credit to get that house in five years. Make sure you get a credit report and are calling to dispute, pay or settle the negative items on your credit report.

4. Set up your 401 K and max out the match. If you are a first time homebuyer, this will help you to buy your home, together with what you saved, you'll have money leftover. Never refuse free money from your employer.

5. Make sure you have life insurance. Make sure your parents have life insurance. You don't want to die and leave your spouse and children struggling to make ends meet. Not at all, you want them to prosper while grieving. While you're at it talk to your financial advisor about stocks and bonds. You'll be surprised at what you learn. Its another way to save.

6. Start a home based business. There's YTB travel, ACN, 5 Linx, Euforia and more. Did you know that each business can offer you a line of credit? Plus, you can write off a lot of your expenses; home office, telephone, business travel and more. Talk with your accountant about this.

7. Give a little to charity, a non-profit or a church on a regular basis. Help someone that needs help, volunteer more. The more you help others the more you thrive. If everyone helped each other more then our society would be a better place. Send comments and questions to

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