Tips on how to survive in a time of economic turmoil
WRITTEN BY EARL MIKELL

Times are tough in today’s economic world. Not a day goes by without us seeing the words “breaking news” on news shows or being told yet another company is pleading for a bailout from the U.S. government. It has also become increasingly apparent that we are headed for an economic recession, the likes of which we haven’t seen for more than a decade. Layoffs are happening with greater frequency, and old memories of bread lines and destitute farmers are beginning to proliferate.

Given the dire nature of our economic struggles, it would seem easy to give into despair and surrender to reality. That’s exactly when we should remember that all things will eventually pass into history, and start bucking up. We all also understand that sacrifices will have to be made. However, that doesn’t mean that you can’t do anything that you love to do; just only that you’ll need to cut back in some areas of your financial life, and learn to save money/live a spendthrift life for the duration of this economic downturn. You may even get a chance to indulge a little bit if you work hard enough along the way to save money and reduce your expenditures. In advance of beginning a frugal life starting this year, here are some tips to help you get through the year.

Tips on how to survive in a bad economy:

* Use the coupons in the newspaper everyday
* You can also find coupons online, along with price cuts/deals
* Buy generic (store brand) items like food and toiletries
* Buy in bulk at wholesaler stores; you’ll save more than you would at Giant, etc
* Don’t use the air conditioning or heat; buy an energy efficient heater/fan
* Make your own meals; don’t go to fast food places or restaurants
* If you have to fly, always work to find the cheapest tickets online
* Otherwise, if the destination is within a day’s drive, do it
* If staying overnight in a different town, try to stay at friends place, not a hotel/motel room
* Failing that, get the cheapest one possible
* Don’t make major purchases like a laptop or big screen TVs; they’re a luxury
* The only big purchases/payments should be critically necessary, like your housing and your health
* Don’t commit to any online/actual subscriptions like newspapers or magazines
* If there is something particularly worth it to you to keep, try to limit it to one subscription per year