by Amela Piric

Created on: April 18, 2009   Last Updated: August 02, 2009

We are faced with problems in the real estate industry and job lay offs on a daily basis. As a result, people are worried about what will happen to them and how longer they will be able to maintain their jobs. Eventually, it comes down to how we respond to the economic crunch that will determine the quality of our survival.

Below listed are several tips that can help you survive the economic crunch.

1. Live below your means

It is not our duty to purchase cars for our children. We can start teaching our children early on how to earn money and how to get what they want by paying for it with cash. We only owe our children love and teaching them true values life. The rest is up to them to accomplish. We can survive without a high standard of living that is placing so much stress on us. We could get buy with less expensive and modern cars. We do not have to compare and prove ourselves to anybody much less our neighbors. If we have to prove to ourselves to whomever, they are not worth us in the first place.

2. Turn towards production

Our economy should turn towards production in order to be restored. Otherwise, we will all become a part of vicious circle that will be hard to break out of. We could start with the agricultural activities in our yard and ask our children help us. Through joint activities with our children, they will be able to learn valuable working habits and life-long skills from us as their parents. Firstly, we will spend less money on our grocery bill as we will be growing our own fresh and green products in our yard. Secondly, we will get free physical exercise and fun in the sun along with a nice sun tan as an added bonus.

3. Avoid living on credit

We continue to keep relying on credit cards, debt, and loans even though we can survive with less expensive cars, with smaller houses, and without indulging into the lifestyle of immediate gratification. What ever happened to our grandparents' values of first saving up all the cash before we buy something we want? We are going to have to return to those values if we want to save our country, its reputation, and the kind of values that made us what we are in the first place. Relying on cash is the best method of payment if you want to save up on cash and be solvent nowadays.

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