I'm really not a "I told you so" kind of guy, but ever since writing my post "Bad Economic Times on the Way?", I have been noticing an increase in articles about the U.S. slipping into a recession, how 2008 is going to be a bad economic year, "how to prepare your portfolio for recession", etc. I came across this article, "How to Recession-Proof Your Finances", although I'm not sure when it was written.
Don't get me wrong. I'm not actually WISHING for bad economic times to befall the United States, but I can easily see it happening. The current state of the economy reminds me quite a bit of my life in 1991...one of the worst years of my life. I had no job, no income, and I didn't know where my family's next meal was going to come from more than once. Taking that into consideration, I'd rather spare my readers that pain.
Thinking back to that time, I see now that had I done a few simple things, such as the things noted in the articles reference above, I could have saved my family from going through such a tough time. Saving cash and preparing now is not just good in case the economy goes sour, it's just good advice in case some other kind of emergency hits your family or household.
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