Recession Proof Your Life, 5 Must-Dos To Protect Your Family

[Mommy Money]

Don't let it be too late or hit you out of nowhere. Our economy is hurting. Here are 5 must-dos to protect your family against a financial downturn.

1. Save money by delaying any purchases that aren't necessary. It's funny but I read an article about how this recession is causing plastic surgeons to see a significant drop in business. People are forsaking their planned surgery or opting to do less expensive options. For example not doing the face lift and getting botox instead. Consider every purchase and make sure that you have enough to cover it comfortably. Only make cuts where it makes sense and where it will cost less to do so.
2. A great way to save money and yet still enjoy the holidays is to buy things used. One trick is to buy at the end of the month when people who are moving are highly motivated to just get rid of their things. With Christmas around the corner this can be a great strategy to save money. The only glitch is to factor in the cost of gas to go around town or the state to collect these items. If not, borrow a book from the library and learn to can or make gifts.

3. Find one store that has the best prices overall with these gas prices, it doesn't make sense to drive around town to buy things. In fact if you factor it all in then you'll see that it wasn't cheaper to drive to the other side of town to buy one bag of tomatoes on sale.

4. Make sure to have a cushion to fall back on. Preferably six months worth. Yup, that means cutting those extras that are draining your pocket until you save up enough to cover six months of your bills should your family get hit with a major financial downturn.

5. Always keep an eye out for new ways to make extra income. It's not surprising to find hidden value if you really start looking around at what you've got. If you're not using it then consider selling it. All those things you bought have some sort of value today. Cash out while the economy is still alright.

jThese aren't mind blowing but just fundamentals to protect your family from a major financial downturn.