Fired? Laid off? Did your dreams of making six figures with a history degree fall through? Maybe your sugar daddy won’t buy you a new pair of shoes… Sarcasm aside, we are all vulnerable to these types of setbacks, and we will all survive the dark days of this economy with a little common sense and a tight fist on our wallets.

10% Unemployment

With the national unemployment rate hovering around 10% it is important to note that the average American will probably change jobs about 11 times between the age of 18 and 42 (link). That number is based on a study of baby-boomers, who I consider to be one of the most stable generations ever! Today, I would imagine that job changes occur even more frequently than this!

So… don’t get too comfortable where you are at today, because it is going to change. The days of pensions and working for Ford your whole life are over. Hundreds of thousands of people have lost their jobs in this depression because of a few ignorant politicians and risky businessmen.

Recessions & Depressions

Putting anger aside, it is important to remember that recessions and depressions like the one we are currently in occur on a regular basis. It’s easy to forget about the tech bubble 2000 and the 1970’s oil crisis. Take a look at this link to recession history. We have one of these econonomic train wrecks at least once every decade!

When one of these train wrecks occurs our quasi-socialist government always steps in to run General Motors and other major financial institutions —> oil prices come down —> the stock market goes up —> the economy starts growing —> we find new jobs —> we get comfortable —> repeat history.

Sure, I do understand the misery and struggle that many of us face in times like these and there are very few people, rich or poor, who will come out of this bad economy unscathed. The good news is that you and I will survive this and we can come out the better for it!

10 Tips to Survive

1- Only buy what is on sale at the grocery store. If pork is on sale this week, you will eat pork. If beans are on sale, you will eat beans. If peppers are 99 cents then that is what you are eating. Do not give in to impulse buys and make a grocery list.

2- If you are paying thousands of dollars for a communications degree. Think again! You will find better luck with a career or vocation that people “need.” Learn to cut hair, become a plumber, or get a job in healthcare. You can learn everything you need to know about career outlook, job stability, salary information, and education requirements at the unemployment?

5- If you are not unemployed, then those high interest credit cards need to be paid off. If they are not paid off then you probably bought a bunch of stuff that you don’t need. New clothes, televisions, and $75/month data plans for your blackberry do not count as needs. It’s time to buckle down and start pinching pennies. Consider doing a balance transfer to a low interest card if you can get one. Then stop spending!

6- Look for deals on everything. Cut coupons. Check online. Everything that you could ever want or need is on sale right now.

7- You don’t need cable, a fancy cell phone, or internet. There are plenty of free wi-fi hot spots around town and missing a few TV shows isn’t the end of the world.

8-It won’t kill you to buy toilet paper at Walmart.

9- Make all your meals at home. If you are unemployed then you have time. Even if you are not unemployed then you still have time. Check out this frugal recipe list for some ideas.

10- Settle for less (this one hurts the most). You may be an engineer who has to make ends meet by driving a cab. If you made $30 dollars an hour in construction, making $10 per hour at home depot might have to do for a while. Things won’t be like this forever. Sometimes you just have to tough it out and make ends meet.

Keeping Your Chin Up

Getting screwed in a bad economy can happen to anyone and it sucks! The most mundane mistake may bring your corporation down on you with an axe swinging. Your “stable” company could go belly up in minutes. Just hang in there, be smart, and the bad times will get better.