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With recession on the lips and minds of government officials and Wall Street , you should start forming an action plan now. What is a recession? A recession is when six months of negative economic growth happens (two consecutive quarters). Or in plain English, six months where the U.S economy shrinks in producing and selling goods and services. Ouch! Making the mistake of refusing to think about it, thinking that will make it go away or not affect you is a risky mistake. For example, if you're ever confronted by a mad, hungry wolf, burying your head in the sand and thinking happy thoughts is no survival strategy! But it does position you with your soft spot in the air, thus guaranteeing the wolf an easy, warm, ham dinner. The same goes when an economic slowdown hits. Those who are the most prepared survives and even thrives in it - those who aren't, won't. Regardless of how much or how little money you have. For example, you may recall the last recession we had in 2001, dozens of Wall Street millionaires went broke almost overnight. Not to mention the hundreds of dotcom companies that went bust in tech heavy Silicon Valley in 2000. So, it's not the money but preparation that helps you survive an economic slowdown or recession. Make up your mind now to refuse to participate in anyone's recession - real or imagined, by preparing a survival plan now. As the saying goes, those who fail to plan - plan to fail.
1. Routine Maintenance Preserves Your Money! Keeping up routine maintenance around your home will save you the cost of having expensive items repaired or replaced. This will act as an enormous money-saver to reduce your expenses during a economic slowdown. For Maintenance Tips Click Here! 2. Don't Move ... Improve! During economic slowdowns it's always better to improve your home rather than trying to sell your home in a buyers market. If you can, it's best to wait for a more advantageous time when the market improves. Instead improve your home with updates and other important maintenance projects. 3. Don't Panic - Protect! Now's a time to think more defensively. This means instead of buying new items, focus more on preserving and protecting what you have. For example, invest in products that make what you have last longer. For example, cleaning, maintenance and preservation products to keep what you have working efficiently.
4. Drive Your Computer - Instead of Your Car!
With gas rising above the three dollar mark, it's important to find ways to use your car less - or at least more efficiently. One of the easiest ways is to use your computer drive ... instead your car to drive. Online shopping will save you the cost of car maintenance, gas, plus wear and tear. So take advantage of this effective time-saver. For Tips on Smart Online Shopping Click Here! 5. Give Your Home A Security Check Up! Unfortunately when the economy slows down, home burglaries and other economic crimes go up. More people will seek to find ways to make or supplement their income in unlawful ways. Make sure your home doesn't present a tempting target to an alert burglar. For tips on protecting your home Click Here! As the economy grows tighter your preparation and planning will help you and your home ride out any economic storm better. By acting on the above suggestions you'll have less surprises. Of course no one knows what the future brings for the U.S economy. But you'll feel more confident and in control by taking advance actions to protect yourself, your home and your family.
As always, feel free to share this information with someone you care about.
I invite you to continue sending your questions and feedback to: publisher@blackhomeownernews.com
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