November 19, 2008

Be poor for a week

When there is a downturn in the economy, it is easy for those people who are not yet directly affected by it, to think that everything is going to be ok. However, as we have seen recently this sort of thing can descend on the most unsuspecting people.

In order to survive a downturn it is essential to be prepared, on good way is to reduce your spending to a level that would reflect the situation if everything went wrong.

The easiest way to gauge your ability to survive is to try and live on a reduced income of around £50 per week, this will show you what it would be like and if it is actually possible at all. For most people it is well within their spending to do so, if not then it is time to take a look at the outgoings and make adjustments.

Source [Drew Tarvin]