Try to stay healthy. Healthcare companies are number two in my list of vampires (after credit card companies). This of course applies to countries where healthcare has been privatised. In Scandinavia, Germany and other places people are automatically insured so healthcare costs are not a big problem.
Get rid-of your gas guzzling car. Petrol prices will continue to increase and transportation costs will become an important part of your budget. Similarly, pay attention to your utility bills. We use more and more electricity, prices of which are rising and will continue to rise for foreseeable future. And if you are going to buy home appliances, pay attention to its energy rating. Change all the light bulbs to energy saving types. Don’t use dryers so much; not only they use a lot of electricity; they also wear-down your cloths.
Keep away from multi-level marketing, and other such things. In the end you will lose not only your money but your reputation and friends as well.
See how the recession will affect your company or your job. In hard times, the government jobs are fairly safe. So if you are offered a job in city or federal institutions then take it; even if it pays considerably less than the private company. Remember that long-term financial security is more important than the short term rewards. And while we talk of jobs, let us look at employment development during the great depression.
The following is the list of fastest growing jobs in US during the period 1929-1933 (Source: Historical Statistics of the United States).
· Persons engaged in gasoline service stations 34%
· State and local government employees: 3%
· Persons engaged in repair services: 18%
· Federal employees: 6%
· College faculty: 32%
· Persons engaged in legal services: 12%
· Persons engaged in liquor stores: 335%
· Public school teachers: 2%
· Persons engaged in second hand stores: 35%
· Physicians: 6%
Investment in stocks
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