How to Survive an Economic Depression
- 1
Job security
Examine your profession and evaluate if it is one that will likely continue to be of vital importance, when deciding how to survive an economic depression. There are many industries and services that will still be vital, even in an economic depression. Teachers and health professionals will always be needed and in demand in any society, no matter how depressed. There are also industries such as electric power, fuel, and waste removal that will continue to be critical industries. - 2
Neighbors
Get to know your neighbors and those in your local community. Strong local networks are critical for surviving an economic depression. Close-knit families, neighborhoods and towns will be most likely to provide the support and help that many will need. Look around your local area and see what can be done now to bring people together. - 3
Local food
Try your hand at gardening and try to grow a little extra for those who may be worse off than you. Local supplies of food and the ability for at least partial self-sufficiency will enable you to survive an economic depression with out worrying about what you are going to eat. Supporting your local farmers' markets will both provide you with food and help to support your neighbors. - 4
Piggy bank dollar
Be extremely frugal in spending money, saving as much as possible for emergencies, job loss or cut wages. Budget money carefully, and support local companies and local manufacturers when you do spend money. This will help boost your local economy. - 5
Homemade bread
Make it from scratch -- whether it's bread, chicken stock, or Sunday dinner. You'll learn better how to survive an economic depression if you are able to develop the skills to make much of your food yourself.
