How to Survive Recession

How to Survive Recession

How to Survive Recession - Share Markets - Ways to Deal with Recession - Investment in Stock Markets | Tips on - Find TipsIt has been more than a year since recession hit United States and slowly it has been spreading around. Now the huge fluctuation of the share markets on a regular basis comes no more as a surprise.

In this economic condition, it is the higher middle class and below who are and will be going to be most effected. More so when it has been predicted that it is not until 2011 till the recessions subsides.

Some Steps to Follow:

1. Whether in high paying or low paying job, start saving for the rainy day, it may strike anytime. With the companies showing pink slips to the employees, one cannot be sure enough for one’s job. If you are receiving indications of such a situation, start job hunting right now.

2. Curtail all expenses. Go for a dinner once a month, rather than once every week. Cut out on automobile use, save electricity etc. A large amount of expenses goes on food in almost all the family. So turn to home cooked meals, rather than preserved foods. Imagine if you lose your job and the job market is also going on a down swing, then hard cash is what you need for survival. Luxuries can come later.

3. If you have investment in stock markets, keep a close tab on where the market is heading. People have lost millions in current fluctuations. If you sense any trouble, consider taking out the stocks. Better lose some than lose all. Investment can be done again later on.

4. Do not buy properties right now. On one hand, it will be a good investment in the sense that it will fetch higher price when the recession recedes; on the other hand, it will be insane to invest on such a large sum right now as you can never be sure when the economy will be booming again. Consider selling property if you need money.

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