How the Recession Affects You

We are all trying to make it through the collapse of the global economy, and in an effort to stop your debt from continuing to spiral out of control and to hold on during this financial meltdown, we offer you the following 30 tips towards getting through this recession.


1. Take a break from paying your mortgage by calling your mortgage company and asking them if they would defer your payments for a short period of time.

2. Talk to your landlord about decreasing your rent since rental property is in such high demand.

3. If possible, move to an area where the housing is less expensive.

4. Keep your vehicle in good working condition to save money on petrol.

5. Property investment is not a safe option, and you should research any property you want to invest in before buying.

6. If you get a parking ticket that you feel was unfairly distributed, dispute it. You may win and save your money.

7. Shop around for car insurance that offers you the best value for your money.

8. Car pool with other people in the area that are going the same way as you, and share the cost of petrol.

9. Get advice on your finances from a professional and let them help you budget.

10. Research how you can avoid capital gains taxes

11. Look into council tax rebates for your homes and see if you are eligible for a rebate.

12. Reduce your electric bill by turning off unnecessary lights and appliances.

13. Utilise VoIP technology on the computer to make phone calls and eliminate the high cost of a landline phone.

14. Sell items you are not using to get some extra money.

15. If there is a film being shot near your location, try getting a job as an extra for some fun and extra money.

16. Move your savings accounts to a bank that awards higher interest.

17. Find ways to profit from the falling global market.

18. Toss your loose change in a piggy back.

19. Eliminate things from your budget that you can do without and put that money into a savings account.

20. Bargain shop at some of the top bargain stores such as Oxfam and Aldi.

21. Cook in bulk and stretch out your ingredients as far as you can. Freeze extra portions for later.

22. If you are looking to buy things such as electronics, wait until the prices have come down or until the items are on sale.

23. Haggle at flea markets on things that you want.

24. Use your reward and loyalty cards.

25. Buy music online that can be downloaded to your portable MP3 device for less.

26. Budget.

27. Work on improving your credit rating  by reviewing your credit report and getting it in line.

28. Try to stay positive, and don't let depression get you down.

29. Find an alternative way to pay off your debt.

30. Learn from your debt mistakes and find ways to invest into your future.