11 Ways to Prepare for a Double-Dip Recession

**pollypurebred39** · 06-30-2010, 07:52 PM

Seems like something to think about. I thought I'd share as others may find this helpful, or at the very least interesting.

Slideshow

The Worst May Not Be Over: 11 Ways to Prepare for a Double-Dip Recession - US News & World Report

Article

How to Plan For a Double-Dip Recession - Rick Newman (usnews.com)

**Learningtobefrugal** · 07-05-2010, 04:51 PM

Thanks..it is not looking good for the Ole' USA. The more I read the more I realize the trouble we are in..
Thanks for the articles.

**Imarachne** · 07-05-2010, 04:57 PM

Since I only get Social Security Retirement, I don't know how long I'll even get it so needless to say I'm scrimping every penny just in case it goes belly up. Keep on saving what you can--its the only thing to do.

**alotofgooddeals** · 07-05-2010, 07:01 PM

i don't think 2012 is going to be the end of civilization...I really think that a double dip recession is going to be the demize of alot of people... breaks your heart to think about it....I think that the recession(depression) is far from over and things are going to get much worse before they get any better...so now is the time to prepare and think the worst... so that we are able to prepare for when the time comes....

**joyofsix** · 07-05-2010, 08:39 PM

I just read The Ant and The Grasshopper to the kids tonight. I think Aesop may still have some good advice.

**frugalwarrior2** · 07-05-2010, 10:07 PM

I read the article a few days ago and again today. It basically could be the mission statement of most FV'ers.

1. SAVE
2.pay down debt
3. Have a contingency plan
4. Buy an economical car,conserve energy
5. Don't depend on the gov't
6. Have a side income
7.Keep assets liquid
ETC. Any of that sound familiar?

It was a helpful article and nice to see it all concise. Thx Polly.

**pollypurebred39** · 07-05-2010, 11:10 PM

We'd have done good to follow #7.

#5 well, that's a given.

Working on #2

We had #3 covered, but it never was intended to stretch beyond 3 years.

Finding myself increasingly nervous. When they keep telling us that the population is rising faster then the employment rate and how many new jobs must be created each month to meet the ever increasing population, I have to wonder just how long we can hold on as a country before our house of cards fall.

**StanleyJohnson** · 07-06-2010, 06:16 AM

Great Articles !

I think the slow economy is going to be a long drawn out affair.
Whether it will be slow growth or technically a recession is for the economists to debate.

Unlike the Dave Ramsey crowd, we've made having 6 month's expenses a priority over debt pay down.

**frugalwarrior2** · 07-06-2010, 06:34 AM

Stanley-DH and i were just discussing that the other day as we are taking his course. Earlier in the year we were saying that $1000. BEF didn't work for us and every said it should if we had sinking funds. I now discover that DR says $2000. if you make over $70,000.
I would never default on a debt intentionally but in this volotile enviro. if my DH lost his job I would delay and keep my cash. 2 years more for us w/ only $1000. backup to me is INSANE. Makes me way too nervous!

**StanleyJohnson** · 07-06-2010, 07:02 AM

Originally Posted by frugalwarrior2

Stanley-DH and i were just discussing that the other day as we are taking his course. Earlier in the year we were saying that $1000. BEF didn't work for us and every said it should if we had sinking funds. I now discover that DR says $2000. if you make over $70,000.
I would never default on a debt intentionally but in this volotile enviro. if my DH lost his job I would delay and keep my cash. 2 years more for us w/ only $1000. backup to me is INSANE. Makes me way too nervous!

I suppose it's really personal preference.
I work for the private sector. (yes, there are a few of us left)
Business is really up and down. I wouldn't be surprised if we're not laying off some staff in the next 6 months.
Best case scenario would be a pay cut for me.

**alotofgooddeals** · 07-06-2010, 09:03 AM

since june 11. Actually havent received first check cause i have to verify my income first with them... and we get paid every two weeks so....hopefull this week i will receive most of it to catch me up. I loved only working 2 days a week cause i was home with the fam....got the call this morning at 8:39 that i was to start working all five days starting wednesday which is tomorrow... thought i had the day off...my first thought was disappointment... ugh! However, my mind started whirling...and i realized that i need to be thankful for having the opportunity to work all week and stop whining....because you just never know....I work for a state agency that hires for academic year... we are responsible for helping 4 and 5 year old children in a school setting... pretty much preschool...so i know that i will continue to work until June of next year without any issues..because with state cutbacks we acquired 167 more children to service but with the state hiring freeze we cannot hire anymore people to help with these children...so job security i guess...so now my responsibility is to try and get some things taken care off and prepare.... prepare.... prepare for the worst....

**frugalwarrior2** · 07-06-2010, 10:49 AM

Stanley we just know that my DH wouldn't have his job if he didn't travel internationally. All things are always hinging on profits per quarter incl. matching 401K. I always figure EVERY paycheck in the next to last. What a way to live but were making income.

**brennasmom** · 07-06-2010, 11:03 AM

Interesting article. Thanks for sharing.

**mauimagic** · 07-11-2010, 12:36 AM

Mahalo Polly - good solid info that does not beat around any bush. Think we are making progress - even DH is finally coming on board - thank goodness.

Am glad that I have automatic savings in place - even DH does not know about them since he needs to learn more self control.