How Do You Handle A Recession... Without Begging Off Friends, Family, Or The Government?

Lots of people are scared out there. Most people are talking about a global recession. Others are even talking of a global depression. Things could get really ugly out there, and unless you prepare now, you and anyone who depends on you are going to suffer.

Look, I'm not trying to scare you. I'm just saying you should be prepared. Whatever you call it, some bad times are coming.

But you still have time to act. If you make some simple changes now, you can handle a recession or a depression or anything else this crazy economy throws at you. So don't worry about it! Just open your mind, and start thinking of what you can do about it.

Yes, don't think that a recession or even a depression is the end of your life. You can choose how you'll react. Remember that you are a thinking and acting human being. You don't have to go down just because everyone else thinks they are and you should.

What can you do? Start by making sure you're the best at your job. Make sure you are excellent. So important to your company that they'd be in real trouble if you left. That way they will never lay you off.

Basically, if you follow my advice here, you'll only lose your job if your company goes under.

What if that happens? What if your company does fold? If you think it might, then act now. Think long and hard about which industries do well during a recession or depression. Then work now on getting a job in one of those fields. The sooner you act, the better.

You also shouldn't limit yourself to only one pay check. Have a few different “income streams.” That way, if you do lose your job, you will still have some money coming in.

Think of your financial life as a lake. Money flows in from your job, and flows out as you spend it on your expenses. If you lose your job, then the lake may go dry. Then all your fish and other waterlife will be in real trouble.

But, if you have a few different income streams, at least some money will be trickling in while you are looking for another job or working on getting some money out of the government.

What kind of income streams should you develop? There are many of them, but you should work on building as many passive income streams as you can.

This is not the time to fall asleep on the job because you've been up all night moonlighting. You want to shine at work, not move up the boss's cut-list.

There are many passive income streams. Just type passive income stream into google, and you can read about thousands of them. Spend a night reading. Then start acting. Don't put this off. The longer you wait to start, the harder it's going to be.