You can take steps now to survive what could be a perfect storm of financial destruction … a slump in manufacturing. Not so crazy United States could experience the worst economic recession since the 1930s.

What is particularly worrying is that the U.S. government the debt now stands at over 2 billion dollars for the first time in history. It will undoubtedly rise with the legislation considered by Congress to address the crisis. At some point, citizens may lose confidence in the government if the debt gets too high or spent unwisely. Then, businesses and the severely reduced spending on a consumption-based society without sense. U.S. could be caught in a self-reinforcing a downward spiral of economic depression.

In the advent of a financial depression, the name of the game is survival. Cash and credit are the king. You will have to reduce your expenses until the end. Expect the situation four or five years ago that way to plan for the worst. What can you do to prepare is to move quickly before in a bind:

Reduce the Size of Your Life: The average size of a house in America has been a large scale. Back in the 1970s a quarter of new homes were less than 1,200 square meters, today only 4 per cent. Do you use all your home? Consider selling your home and make the size. Buying a foreclosure or fixer upper in a neighborhood next. Hide the extra money on a well of bank management. Some banks are offering interest rates more than 3 percent, which is a lot, but sure to lose his retirement in mutual funds or stocks. Download that SUV or pickup truck used to move and buy a used car compact hybrid and get 45 miles per gallon. Find the best price in Carsdirect, moving from anywhere. As the reference cut costs by 25%. Enter your budget current home and start slashing. Do you really need to go to Starbucks twice a day to $ 3 a drink? You'll find the little things really add up.

Go Green: It's a great way to improve the quality of your life on a budget. Conserve water by turning back the timer irrigation, taking shorter showers and install low-flush toilets flow. Plant a garden robust. Electricity savings by installing a solar water heater, compact fluorescent lamps and appliances efficient when the old ones wear out. Turn the thermostat in winter and summer. Recycle everything and consider the purchase of clothing and furniture, slightly used. Consolidate electronics in the home. You can buy and sell almost anything on Craigslist and eBay. Work in the green part of the collar workforce full-time or sustainable energy or conservation. Start a home business as an eco-entrepreneur.

Optimizing Credit: If your home mortgage interest rate is a couple of percentage points above rates will consider refinancing. Many banks still offer credit lines mortgage at favorable rates. Currently there are around 4.5-5%, and much with no charges opposed to mortgage loans. Implementation of quality, low-interest loans, including Nordstrom Visa card while you still can. Read the terms of your credit card carefully. The balance transfer zero interest offers on some cards come with a catch. If you use the card for purchases interest could be more than 20 percent! Interest rates and credit limits can change. Use the equity line to pay high interest balances outstanding and the rate of auto loans, if any. If you are running a deficit every month after cutting costs, the credit can provide a cushion. Do not wait and apply when credit is needed because even with an excellent credit rating can not get it.

Bargain Basement: The depths of depression that comes, those who are fortunate enough to have cash and credit prosper. The stock and housing is a bargain. I dare say 20 per cent cheaper. Outwit Warren Buffet and buy shares in companies with long bell with strong balance sheets and the marks on the historic low ratings. Become in a real estate mogul for theft of property in distress. How do you know when we are at the bottom? Look at the major economic gauges falling below of the worst recession since the Great Depression that would be the recession of 1980-81. Also watch out for the capitulation of Wall Street darling as Google. Be patient The storm will pass. With the help of Smart deficit spending, reducing interest rates and a new administration things will improve gradually.

Larry Burke is an award winning professor and editor of the popular
Green Business (greenmauiguide.com). Has an MBA from Harvard University and a BA from Stanford University.Visit for more information on
energy sustainable target = "_blank"> conserve energy.

About the Author:

Larry Burke is an award winning professor, and author. He has taught Internet Marketing at Seattle University and Starting a Green Business at Maui College. He recently wrote a book Green Makes Sense and is publisher of the very popular Green Maui Guide website. http://www.greenmauiguide.com

Article Source: ArticlesBase.com – How to Survive a Financial Tornado

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