Financial Lessons From The Great Depression We Can All Use Today
An Act To Amend The Consumer Finance Act To Allow The Recovery Of
Electronic Transaction Fees Imposed By
Third Parties And To Amend The Retail
Installment Sales Act To Clarify The Definition Of Official Fees.
We could all use financial lessons. The talk of an economic recession happening is around us. Thankfully, we’re not nearly in as bad of a place as we were when the Great Depression hit. But, the experience and financial lessons from that can be used and help us all today. Here are some of them.
- Be prepared to move, if necessary. Your income will go further if you move to an area with a lower cost of living, and with remote working becoming more common, you don’t necessarily need to be tied to an urban area anymore for work.
- Watch every penny. Even small amounts of spare change add up and can make a bigger difference than you realize.
- Learn to cook. The cost of eating does go down a lot when you’re making meals at home instead of eating or ordering out constantly.
- Fix everything. A lot of us just replace something when it’s broken, rather than fixing it with a little work (that’s free!).
- Conserve everything. Cutting back and really looking at how high your electricity usage or water bill is can put things in perspective for you and can make you double-think when you go to take an extra long shower.
I am sure a huge proponent that every penny can make a difference. It really does add up!
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