Episode 1: 5 Great Ways To Stay Recession-Proof!

Tune into Black Suede *The Financial Analyst*

This Episode:

My personal ways to stay "Recession-Proof."

1. Track Your Spending Closely.
Make sure that you know how much you're spending...Remember, a rich man DOES NOT spend every dime he has...A good way to track your spending is to record all of your significant purchases (such as...furniture, computers, miscellaneous entertainment, etc...)

2. Create a Budget.
A budget helps you "live within your means." You'll want to plan a budget that isn't too demanding, yet challenges you to save...which leads me to my next tip..

3. Start Saving Now!!!
Many people underestimate the significance in saving. Saving requires what I like to call "financial discipline," but WILL help you in the long-run. You're NEVER too young to save....The EARLIER...the BETTER...

4. Build/Maintain a Respectible Credit Score.
It's easier said than done....I know, but it's important. Make your "small" purchases on Credit...And try, if possible, to make other payments in cash...
If you CAN pay for it in Cash, then you should. The thing that kills people isn't the loan amount...but rather the INTEREST on the loan...

5. Borrow Conservatively
I, for one, am not a huge borrower, because I don't like being in debt. If you have to borrow money, make sure that you only borrow what YOU NEED(nothing more). The money looks great when you first get it, but it could really hurt/discourage you in the long-run....

LIVE SMART, WORK LESS.....LET YOUR MONEY DO THE SLAVING...

Until next time,

Peace

-Black Suede