Tuesday, July 09, 2013

Six Secrets to Recession-Proof Living

Today's post is a guest post that I hope you will find helpful in this difficult economy. Enjoy!

Six Secrets to Recession-Proof Living
By  Marie Christine Sing Umali

With the stock market conditions on a consistent downturn, current housing prices continue to plummet, homeowners buried in debt are not even willing to sell knowing that it will be a big loss in equity value. Oil and food prices have risen higher than before and have no indications of going down. Because of these, people cannot help but panic.

The US has survived countless wars and recessions time and time again. This only goes to show that nothing is impossible if Americans work together in uplifting the economy as one nation. However, it does not guarantee that everyone will not experience hunger, unemployment and mortgage foreclosures. So how can one bullet proof his property and family's future in case the great depression strikes? With no one else to turn to, everyone should be able to plan ahead to achieve resilience from any economic instability.

Here are a few tricks which could help one increase his chances of surviving amidst growing pains and price hikes:


This means looking for a job you see yourself doing for the rest of your life. Never settle for a job you despise. Not only will you suck doing it, but you will also waste valuable time you could have channeled to a more productive outlet. Love your current job and try your best to get promoted! Promotion means an increased salary, and constant promotion shows the company that you are an indispensable asset.


If schedule permits, try having alternative money-making endeavors. Try a low-pressure sideline that gives you a steady stream of income. If you are a kitchen goddess, start accepting made-to-order pastry batches. Prepare small samples when friends drop by for barbecue. Make sure that you have perfected your recipe first and have run taste tests before you declare "business is open". You have only one shot at making an impression to your friends. If they think your sample is a flop, you will have a hard time convincing prospects that the next batches will taste better. First impressions last so make it one that everyone will remember for all the good reasons. Once you have built your credibility, who knows? This may turn to a long-term bigger business. Be a wise spender of your time and money.


Have at least 10% of your salary untouched. Save up in case a family member gets sick or someone in the family gets laid off. It is also wise to be in-the-know of current financial and investment trends.


If you are used to buying using your credit card, or have an outstanding loan, start making plans on how you can slowly pay off all these things that could be a potential burden to you when tough times come. At this point, do not give in to any loan offers even if it means giving up getting your next dream car or that divine house by the beach.


If you are living in the city where the cost of living is essentially high, consider moving to a less expensive state. Get job offers somewhere "safe" and consider it as a second home. Select places that have low unemployment rates -- where the local government can subsidize its residents, where people can buy homes at reasonable prices in a location that everybody wants. Consider one that has a low crime rate and one that has a friendly and family-oriented neighborhood, with good schools and recreation centers. When you move in, make sure that the previous owners have done bathroom and kitchen remodeling. This takes away significant home improvement headaches which could ruin moving day for you.

If you feel that overseas-living is very tempting, research on the living costs. For expatriates, the salary offered to foreign workers are higher but what's better is that the cost of living is a lot less than America. One country, Malaysia, offers "My Second Home Program" and allows foreigners to settle down with ease under certain criteria. Another great place to stay is Singapore, a highly progressive country with a stable economy. Vietnam is starting to get more and more foreign investments; its economy is in the upswing supported by foreign-friendly government policies. This could mean more opportunities for you to earn, invest, and save.


Make a list of some basic things needed in the house should emergency situations arise. Off the top of my head, the following seem logical and important:

Store non-perishable goods and other relevant household items inside a dry, clean, kitchen cabinet;
Make sure to store kitchen essentials and canned goods;
Buy tools for carpentry work, plumbing, small electrical jobs, etc.;
Buy or keep "security" items and supplies like a licensed gun, supply of ammo, two-way radio, flashlight, candles, lighters, and the like;
Store medical supplies;
Get solar power equipment, spare batteries; and
Buy a bicycle.

Decide on which part of the house you can transform into a storage area. You need to find a dry place that is accessible enough and big enough to be a repository.


Learn to plant without thinking about the zombies! Keeping a vegetable patch in your backyard can serve as a way to de-stress and take your mind off work. Instead of buying from the store, you can grow vegetables, fruits, flowers in the garden. Incorporate a small hanging herb greenhouse in your kitchen design.  Such can also be used for decorative purposes. You can also 'gift' these to some neighbors or use it as another source of income when it is running thinly.

We cannot really figure out what will happen in the future. History gives us the clues, serving as a warning of threats to come. Continue reading up on current affairs and know the trends inside-out. Apply all the knowledge you have learned when you finally decide to build, buy or rent. In any case, whether this dreaded event is coming or not, it pays to be prepared than sorry.

Marie Christine Sing-Umali is a blogger and home improvement enthusiast working for Kitchen Cabinet Kings, a leading online distributor of discount bathroom and kitchen cabinets nationwide. If you are looking for high quality birch, maple, bamboo, and oak kitchen cabinets, you can count on [http://www.kitchencabinetkings.com/]Kitchen Cabinet Kings' RTA Cabinets. Claim your free kitchen design service, discounts and know more about financing options by visiting their website.

Article Source:  Six Secrets to Recession-Proof Living

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