What is a recession? A recession is when six months of negative economic growth happens (two consecutive quarters). Or in plain English, six months where the U.S economy shrinks in producing and selling goods and services. Ouch!
Making the mistake of refusing to think about it, thinking that will make it go away or not affect you is a risky mistake.
For example, if you're ever confronted by a mad, hungry wolf - burying your head in the sand and thinking happy thoughts is no survival strategy! But it does position you with your soft spot in the air, thus guaranteeing the wolf an easy, warm, ham dinner.
The same goes when an economic slowdown hits. Those who are the most prepared survives and even thrives in it - those who aren't won't. Regardless of how much or how little money you have.
For example, you may recall the last recession we had in 2001, dozens of Wall Street millionaires went broke almost overnight. Not to mention the hundreds of dotcom companies that went bust in tech heavy Silicon Valley in 2000. So, it's not the money but preparation that helps you survive an economic slowdown or recession.
Make up your mind now to refuse to participate in any one's recession - real or imagined, by preparing a survival plan now. As the saying goes, those who fail to plan - plan to fail.
Here's Five Ways to Recession Proof Your Home
As always feel free to share this information with someone you care about.
1. Routine Maintenance Preserves Your Money
Keeping up routine maintenance around your home will save you the cost of having them repaired or replaced. This will act as an enormous money -saver to reduce your expenses during a economic slowdown.
2. Don't Move ... Improve
During economic slowdowns it's always better to improve your home whether than trying to sell your home in a buyers market. If you can it's best to wait for a more advantageous time when the market improves. And instead improve your home with updates and other important maintenance projects.
3. Don't Panic - Protect
Now's a time to think more defensively. This means instead of buying new items, focus more on preserving and protecting what you have. For example investing in products that make what you have last longer like cleaning, maintenance and preservation products to keep what you have working efficiently.
4. Drive Your Computer - Instead of Your Car
With gas rising above three dollar mark it's important to find ways to use our car less or at least more efficiently. One of the easiest ways to is use your computer drive instead your car to drive. Online shopping will save you the cost of car maintenance, gas and wear and tear. So take advantage of this effective time-saver.
5. Give Your Home A Security Check up
Unfortunately when the economy slows down home burglaries and other economic crimes go up. As more people seek to find ways to make or supplement their income in unlawful ways make sure your home doesn't present a tempting target to an alert burglar.
As the economy grows tighter your preparation and planning will help you and your home ride out any economic storm better. By acting on the above suggestions you'll have less surprises. Of course no one knows what the future brings for the countries economy. But you'll feel more confident and in control by taking advance actions to protect yourself, your home and your family.
With recession forming on the lips and minds of government officials, wall street and business leaders by the day, you should start forming an action plan now.
Five Tips to Recession Proof Your Home
