Those who are still employed are currently facing a recession, while for those who are not, the depression has begun. If you are one of the millions of Americans that still has a job, then you can plan now to make it through the recession.
Even when times are tough it is important to save as much of your money as possible. Cutting back while you still have plenty is what will help you when times get lean. No one knows when they will be told that today is their last day on the job. Planning ahead can help you feel much more secure.
If you are in debt, get out of it. If you are living from pay check to pay check, then it is time to re-evaluate everything that you are spending your money on. If you feel like your budget has no breathing room, then you need to make some tough choices. Cutting back on living expenses is the fastest way to create more room in your budget to begin saving.
There are thrift stores for food, clothing and other items in almost any area. Taking advantage of these can help you not only keep your costs low, but stock up for the future as well. Plant a garden, even if it is just herbs in pots on your kitchen counter, it will save you money. Never buy anything at retail, and save up for those larger purchases that you want to make. Set aside funds for a rainy day, and sell anything that you do not need.