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!