My Survival Strategy: 20 Recession-Proof Ideas

With turbulence in the financial markets and recession fears overhanging the economy, I have a game plan for dealing with difficult financial conditions. Here's how I plan to handle economic uncertainty.

1. 1. Avoid clothing stores: I recently broke down and purchased a new outfit for my son's Bar Mitzvah, but that was my first shopping trip in over year. I plan to shop on an as-needed basis only. And when I do shop, I'll avoid trendy items that look dated before I have even unpacked my shopping bag.



2. Limit restaurant meals: This is my biggest hurdle. I love eating out. But that's a trap: I get fatter and my bank account gets thinner. Eating out is not a frugal hobby or a productive recreational activity. The solution is to keep my house stocked with fun food, lots of salad fixings and other DIY treats.



3. Diversify income: It's important to have a diversified source of income. As a freelance writer, that means I need a broad mix of clients and opportunities. I might even apply for a short-term part-time job to build up my emergency fund. Bottom line: Look for new sources of income.



4. Keep learning: From graduate school to informal seminars, it's important to update my skills and knowledge, especially in the area of personal finance. I'm also working on several personal development (a-lesson-a-day) programs designed to increase my efficiency and sharpen skills.



5. Network: Former editors and co-workers remain a steady source of job leads and other income-producing tips. That network also yields other career bonuses. But beyond the meet-and-greet perks, it's just good karma to give back to others, to say "thanks" and to stay in touch.



6. Build a cushion: From saving spare change to banking a greater portion of my income, I want to increase my savings.



7. Reduce electric bill: Our electric utility bill must be cut. Our neighbor's bill is half as much as our bill. (More on this next week.)



8. Look for money leaks: Disorganization carries assorted penalties: late fees, late-registration surcharges, etc. I plan to eliminate the extra fat in our monthly charges.



9. Monitor the laundry hamper: Occasionally, my kids will use a shirt or towel --once!!!-- and then toss it into the hamper. Confession: I'm also careless about towels. The extra loads add up. We could save at least $5-$10 a week with a better approach to towels, school uniforms and I-wore-it-once tee-shirts.



10. Better maintenance: From car repairs to dental work, we could save more money through better care. With our car, a minor repair can develop into a big-ticket expense when we neglect the problem. That means more check-ups, more exercise and an increased level of mindful living.

My list also includes:

1. cheaper vacations: Better planning and a tighter budget.


2. a bare face: Do I really need to spend money on cosmetic products that just give me pimples, irritate my eyes and are made from a long list of chemicals that are possibly linked to harmful ailments?


3. better use of the calendar: I want to do a better job of planning ahead for back to school shopping and other seasonal shopping events. Note to self: Stop waiting until Hurricane Season to buy emergency supplies. Why wait until the lines are long and the prices are high?



4. the neater home: If the home is neater, we will be less likely to spend money to replace items that we can't find.



5. spend more time at the library. I spend way too much money on periodicals. And besides, it's fun to get out to the library. The branch near me has a little garden, a cafe and lots of magazines. It's like a mini-vacation.



6. local freebies: My friend Leah recently found free tickets for a stunning ballet performance. The tickets were available through our local receation center. Other opportunities are out there. I should make better use of free cultural activities.



7. rethink our coupon strategy. I am conflicted about coupons. I'm not sure if I'm using them as effectively as possible. Am I really saving money? Do I really use or need the coupons that I clip? Am I just wasting time?



8. spend less on office supplies: Buy home office staples through discounts and sales. Use both sides of paper as much as possible. Re-fill computer ink. Be green and save money.



9. peddle clothes: try to sell my discarded clothes in a consignment store.



10. relax and laugh more. It's just money. A better attitude will enhance my quality of life. Just because we're in a recession, doesn't mean that I have to be depresssed.

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Sharon Harvey Rosenberg is the author of The Frugal Duchess of South Beach: How to Live Well and Save Money... Anywhere!, which will be published in the Spring of 2008 by DPL Press.