How Do You Survive A Recession Or Depression By Cutting Expenses?
A recession or depression is rumored to be in the near future for America, and many people are wondering what they can do to survive if their income drops. Cutting expenses will help, and the following article tells you how. Write down your total monthly household income. If you are able to get overtime, commissions, or bonuses, but never know how much that’s going to be from month to month, don’t count that income (yet). Beneath your monthly income, make a list of the bills you get. Start with housing costs: mortgage/rent, insurance, water, electricity, fuel for heating, trash collection, phone, internet, television (cable/satellite), childcare (for work) costs, car payments, auto insurance, education, subscriptions, memberships, etc. Make a list of other expenses: food, clothing, medical, gasoline/oil, bus/taxi fare, dining out, entertainment (movies, shopping, etc.), babysitters, children’s activities, and anything else on which you spend money. Now add the expenses, and subtract th
