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How to Be a Recessionista

By Edited Jun 2, 2016 1 1

A recessionista is a person who will come out the current economic crisis better off financially than she or he were at the start of the economic recession. While the recession may seem a dire situation, the reality is about 90% of people who want a job, have a job. That's not to say many people are not in a difficult situation. Many Americans and people around the world have suffered great financial losses due to the recession, whether it be a job loss, loss of funds from retirement savings, or loss of equity in the house. As the recession has gruelingly wore on for more than two years, the good news is, it's not too late for many to realize the advantages of a depressed economy.

So how can one become a recessionista? There are a few ways to go about it, though using all the principals together, one can find the most success.

1) Stop paying so much for stuff. Easy enough to say, a lot more difficult to do. Some easy ways to save money include using coupons, rebates, and/or sales to increase money saved on items one would be buying anyway. For example, it is possible to combine coupons, sales, and rebates to get items at the grocery store for free.

Call credit card companies, internet and television (cable or satellite) service providers and ask for either a lower interest rate (in the case of credit cards) or a lower monthly payment. Even saving five bucks a month on internet service, for example, would save $60 over the coarse of the year.


2) Learn to be more self-sufficient. Learning to do more on one's own, by one's self, can save lots of money. Research and learn how to do basic home repairs and save lots of money on do-it-yourself projects around the house. Make cleaning products by combining basic ingredients commonly found in the supermarket for a lot less expense than commercial cleaners.

Learn how to grow a home garden. The average home garden can save the average family $500 per year. Take the idea one step further and learn how to preserve garden produce for use later in the year when fresh produce is not available in the home garden.

3) Learn how to barter. Many local businesses and people are willing to barter goods and services in order to save money. Find things around the house that are not worth much to the family and see how much they may be worth to other people. Most families have things laying around collecting dust which can be used to barter or can be sold for cash on sites like Craigslist.

4) Find unconventional ways to make money. Writing for sites like InfoBarrel can increase household income. Also consider other ways to make money, like collecting cans for cash or getting a paper route. The stuff laying around the house can be gathered up, dusted off, and sold at a garage sale, resale shop, or online.

4) Use money saved and made to invest wisely. Most of us have lost a lot of net worth throughout the recession. Home values and stock prices have plummeted. Use extra money saved through the above methods to invest in home improvements to increase home value or to contribute more to a 401(k) or IRA. If debt is a problem, use money saved to pay down debt, especially credit card debt, in order to save even more money on interest rates.

Even though money is tight for most of us, we can all find ways to save, and even make money, even in the toughest of economies.

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Comments

Mar 20, 2010 10:41pm
mommymommymommy
I love the title! I have heard of "Thrifty Mamas" and "frugalistas", but not a "recessionista"! Great article!
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