So what's a family to do during times of recession? Well, it means you need to produce more and make more capital in order to pay those raising prices. I know it's a tough time to ask the boss for a raise, since most companies are trying to cut those costs also. This is where innovation and creative thinking must reign.
Start with getting your household in order, make a living budget that includes what it cost to live right now. In a financial planning class I took some years ago, they suggested you create a log and write down every cent spent. Do this for 1 month including all your bills, nail down where all that money is going, down to the item purchased if possible.
Now understand what you are paying for, if a loaf of Organic top shelf bread is costing you $2.53, look for other solutions. Bread machines at a thrift store might only cost you $15.00, and a loaf of bread with a machine might only cost $0.45 to make. Consider making bread not just for you, but also for your neighbors, at $1.20 a loaf you can make up the cost of the machine, and also put a little cash into your pocket.
Electricity is another huge cost, though our bill is normally about $150.00, there are a ton of ways to save which are simple, like unplugging those voltage adapters (the big bricks on game systems and cell phone chargers) when not being used. These are often called 'Vamps' simply because they suck electricity even when not being used to charge the batteries. What did our great-grandparents do before they had electricity... well they used candles and lamps. This is also a simple solution, though does not necessarily provide for cost savings.
Another simple solution, which uses a lot of our time is TV, consider firing your TV. I know Americans spend a lot of time in front of the TV, and this isn't very productive time. Instead, read a book, take up a craft which could provide a source of income.
I know that what I've written above isn't revolutionary, actually it might seem downright barbaric to some. Times are changing, and things aren't going to get easier. Right now is the best time to pay off those credit cards, loans, and mortgages and try to get as debt free as possible.
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Disclaimer: The ideas and thoughts above are mine completely, and don't endorse or promote anything other than my thoughts. Please leave comments of suggestions if you have any ideas yourself for saving money, or making extra money during lean times.
