How to Survive the Economic Downturn...Or Try at Least!

It's on everybody's mind - Where are things going? Can it get any worse than this? Where will the money come from next month if I don't have a job now?

I am pretty much in the same boat you are, and it's rocking us all to the bones! Being part of a young couple, this downturn might be easier on me than on most other people considering I don't have any mortgages to pay off or kids to feed and send to school. But for many families, that is a big hurdle they have to cross every morning. Many lose sleep over this as well. Here are some quick pointers to get you on the path to survival:

1. The very first thing you want to do when you lose your job is head for the Department of Labor and file in your unemployment claims. It's not very much you will get but something is better than nothing, you will agree. The sooner you can get that money rolling in, the better for you and your family.

2. Look for jobs where you have never before. Yes, jobs are few and far between but beggars can't be choosers in this economic scenario we are facing so instead of looking as high as you usually would up the corporate ladder, look a few rungs lower and you will be surprised the jobs you can find. Start thinking of all the interests and hobbies you have had over the years and see how you can put them to use to earn you some dollars. I turned to a childcare job when things didn't work in the corporate world.

3. If you live in a house you are paying off on, this is a time to consider your mortgage and where you stand as far as paying back is concerned. If you are in a rental apartment, talk to your leasing management about a reduction in rent. Ours complied by a few dollars - any money saved is money gained for that rainy day that might strike us soon.

4. Reduce the number of trips you make shopping, whether that's groceries or personal items. Pay by cash so you are not constantly using your card and running out of funds. The cash you withdraw for a week should last you that whole week, and there's many ways to begin on that. Fewer trips also mean you save on gas so keep that in mind.

5. That morning cup of coffee and bagels you grab as you are running to work could very well be made at home for a much lesser cost. Instead of eating out or buying takeout, start cooking more at home. The majority of households spend most of their money in this area since dining out is such a big part of life. Not anymore!

6. When you do your groceries, make a list planning the meals for the week (all big meals and snacks) and stick to those necessities. Believe me, it works cheaper when you plan what you want and buy just that. Check online the prevailing deals at your grocer's. If you buy wholesale supplies to last a month, then you probably are already getting a pretty good deal on your money. But if you are purchasing at a retail outlet, check out the 'Buy one, get one free' days and check for canned items versus fresh produce, or frozen food versus fresh meats. The difference is huge. I build my grocery list based on all of these factors plus coupons I can find online and in the local newspaper. These are very handy and sometimes resulted in dollars of savings for me. You will also find that the store brand is much cheaper than a private brand name so compare prices and then purchase.

7. Entertainment cannot be ignored. Especially in dreary times, you will want something to help you focus away from all your troubles. Movies are definitely the place to go but you could bring down what you are paying in a big way. A regular evening show costs $10 but if you watch it before noon it comes down to $5. If you wait a little and watch it at the dollar theatre in your area, it brings the ticket price down that much more! Look out for the movies playing at the drive-in - you can watch two for the price of one! The best part - always remember to eat before you head to the movies so you don't end up spending extra bucks at the food counter. That is money simply thrown away.

8. Freebies are always around; all you have to do is look for them. There are movies playing at the local libraries that are free. Borrowing movies and books from the library are free so make that your new habit. Restaurants are announcing dinner specials unimaginable to get folks to come out and eat so make use of this opportunity. Freecycle.org is a website you can go to for free stuff to exchange with folks in the same area as you. Check out your local recreation center or youth association - they probably have couple free options you could explore.

9. Everything is a luxury so be prepared what I throw at you next. Your gym membership! Yes, times are gloomy, you are sitting at home, you are putting on weight but that doesn't warrant a gym membership that can be used in some other area of your household. Exercise at home, walk off the pounds or even better, swim - now that the weather is turning warm. Use the gym within your community - you pay for it as part of your house so why leave that facility unused. Use the tennis courts as well.

10. You don't have to leave out partying either. There are many clubs that have their doors open with free entry until midnight, just make sure you RSVP on their website and you can dance the night away at no cost. Catch a drink or some grub before you head out so that way you won't spend a single penny at the club unless absolutely necessary. Have a get together with your friends and make it a potluck so it's not just you spending the bucks for others having a fun time. Watch a movie together with friends or binge on a big plate of dessert together instead of spending much more individually!