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As an old guy, I've weathered a few recessions. Some things to keep in mind beyond the obvious "save some money when times are good" advice. (1) they pass. sl
by OliverJones 9y ago
As an old guy, I've weathered a few recessions.
Some things to keep in mind beyond the obvious "save some money when times are good" advice.
(1) they pass. slowly, for sure, but they do pass.
(2) you need something to do if you're thrown out of work. It's not for nothing that graduate school enrollment climbs when unemployment is high. For hackers, it's a good opportunity for an open source project.
(3) downtimes are great times to start new things.
(4) remember everybody struggles in a recession. There's no harm in asking landlords for temporary discounts, especially if their alternative is an empty apartment.
(5) try to make the subscriptions you have cancellable or downsizable. Let your phone contracts run out and keep your phones longer. Avoid the old "two year commitment up front in return for a tiny temporary discount" trick from vendors.
(6) if you really get in trouble, DO NOT IGNORE YOUR POSTAL MAIL. If you get summoned to court for an unpaid bill, SHOW UP! Often you can get a case dismissed by saying to the judge, "please show me the evidence." Bill collectors count on getting default judgements.