Most recession-bound people will be clamouring for ways to resist the inevitable and keep the comforts they’ve become accustomed to. There is news almost every day of the doom that impends; for example, only the other day the global threat of job losses to the tune of 50 million.
So, everyone could do with a money-saving idea or two, not that all will take it up as it’s our general human nature to slovenly negotiate life in the absence of a goad.
I was musing about this recently with my wife and she’s a ‘Simple Savings’ convert, always looking for a novel bargain--and she apparently uses resources most economically (and wishes her husband would do that more too!).
When I mentioned from the News the throwaway phrase, ‘Recession-proofing your wardrobe,’ my wife fired back, “Buy few, versatile, good quality, classic pieces of clothing... then make do with the Op Shop... try repairing your clothes.”
Her response was quite different to mine. My first thought was not to ‘recession-proof my wardrobe,’ but to ‘recession-proof my life.’
Both issues are probably about getting basic, good advice which should hold all the time and not just when things get tight.
It’s investing in employment that, as far as possible, remains steady through the turbulence to come, and if this is not possible, doing something that will sure things up; perhaps taking a course of study? It’s planning for the inevitable future.
It’s ensuring we don’t spend money unwisely whilst also being decent citizens and committing to help good causes and mission organisations.
It’s also making sure there are not too many overheads like massive mortgages and higher purchase cars, boats and the like in the portfolio. Debt-free is, after all, stress-free--at least financially speaking.
It’s also about taking the quiet road of less risk; the quiet and simple life perhaps.
It’s also about being able to bear up under the strain of the possible and potential personal economic disaster, like a failed business venture or investments.
Recession-proofing your wardrobe is important, but it’s not quite on the same scale as recession-proofing your life.
Copyright © 2009, S. J. Wickham. All Rights Reserved Worldwide.