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What do you do in a recession?

anyone had to go through one? I havent had to while being an adult (im 23). but now i have kids and school and I am scared. what are you supposed to do if everyone in the house is jobless? what happens when you cant pay rent or mortgage? im so scared.

Answer Question
 
snoober_k

Asked by snoober_k at 8:36 PM on Dec. 1, 2008 in Politics & Current Events

Level 1 (0 Credits)
Answers (22)
  • I have no idea, I'm 24, and in the SAME situation, if you find something that works let me know. If I hear of something I'll look you up. God Bless!
    ketha04

    Answer by ketha04 at 8:38 PM on Dec. 1, 2008

  • Are you having problems right this second, or are you just worried because it's official now?
    OOHPFG

    Answer by OOHPFG at 8:41 PM on Dec. 1, 2008

  • Start stocking up on canned food and water
    Anonymous

    Answer by Anonymous at 8:42 PM on Dec. 1, 2008

  • If push came to shove for me, I would have a house full of roommates. The community living saw a lot of people through the great depression...and the concept is the same...reducing expenses for multiple people.
    kabbot01

    Answer by kabbot01 at 8:44 PM on Dec. 1, 2008

  • yes we are having problems right now- we moved back in with my mom, thank god for her, b/c my bfs hours are getting cut and i'm in school with 2 kids to take care of. i know we are ok at my moms house but im still scared and also scared for people who have kids and dont have a mom or parents to move back in with.
    snoober_k

    Answer by snoober_k at 8:49 PM on Dec. 1, 2008

  • You can not do anything about the high prices and loss of jobs. To start, learn to do small things. Grow as much of your own food as possible. Shop only when necessary. Use cloth diapers instead of disposable. Walk to where you have to go when you can. Do not use credit. Pay your rent first. Always remember you have to have a roof over your head and food in your belly. We have become a very spoiled nation with all the fast and convenient foods. Cook regular meals and use the leftovers for another time. If you have a house phone, do away with the cell phone. Believe it or not, we used to use just a land line and managed just fine. con't.
    Anonymous

    Answer by Anonymous at 8:54 PM on Dec. 1, 2008

  • But, of course, with our new president-elect wanting to keep his blackberry it is hard to understand why we should give up so much. But, on the other hand he can afford it and we won't be able to. Hang laundry outside instead of using the dryer. If you have no place to hang it outside use hangers and the shower bar. Many sacrifices will be made and just remember you are not alone. Many of us will be right there with you
    Anonymous

    Answer by Anonymous at 8:58 PM on Dec. 1, 2008

  • ask about programs in the community that can help. such as some utilities can be lowered if they know you are having financial hardship, I know in my community they will lower costs for families in need. Also talk to your bank about your hardship and your mortgage. If you talkto them before you are in trouble mortgage wise they are more willing to help you later down the road when you do get into mortgage trouble becasue they know you are aware and are doing what you can
    ReneeLRS

    Answer by ReneeLRS at 9:42 PM on Dec. 1, 2008

  • This is a recession not a depression.
    Alma_C

    Answer by Alma_C at 9:51 PM on Dec. 1, 2008

  • Dont be fooled we were in a recession last year, this year its a depression!
    Anonymous

    Answer by Anonymous at 10:05 PM on Dec. 1, 2008

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