If you're in a bad situation, don't worry it'll change. If you're in a good situation, don't worry it'll change. ~John A. Simone, Sr.   

Gets the point across, right?!  These days is seems like the only thing we can count on is...change.  I work in the Workforce Development industry and see every day how our economy is not discriminating against anyone.  It doesn't matter if last year you were making six figures a year or $6.00 an hour, the bottom line is right now there is no magic bullet on the horizon that is going to fix everything.  This means, we have to change the way we think and act - we have to adjust to what is around the corner. 

I have the pleasure of assisting people find jobs; what I have begun to hear more and more is when offered an employment opportunity, folks without a job are turning them down because they are getting unemployment for the time being that pays just about the same as most entry-level positions.  I can understand that, but what happens when the unemployment runs out for them and that job is no longer available...then what?  It is a catch-22 and we have to be prepared for things like this, especially while balancing budgets and trying to get ahead.  It almost seems like a bad time to be in debt - although, when is a good time?! 

Lifestyles that we have lived and securities that we have had are no longer a guarantee today.  A recent article I read from "The True Cost of Happiness" gets down to the meat of it:

Six Steps for Dealing with Recession:

1. Stop spending money! Real necessities. Food and shelter.

2. Build an emergency fund. Keep it in a liquid asset, like a money market fund or savings account.

3. If you have debt, particularly consumer debt, pay it off as quickly as you can.

4. Know where you stand, financially. If you've never done it, look at your cash flow (income minus expenses) and net worth (assets minus liabilities).

5. You can't get somewhere better if you don't know where you are now. Are there courses you could take or licenses you could earn that would improve your earnings potential?

6. What does your portfolio look like?  Diversify your investments.

Bottom line: there's not a thing we can do about what is going on in the world, except to prepare as best as we can for tomorrow.  I see people who have been working in factories their whole lives signing up to take computer courses, and stay-at-home moms coming in to work on a resume that hasn't been updated in years.  It's time to step back and evaluate your plans and figure out how you can adjust when those plans change tomorrow. 

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Katie Simmons

Katie is a participant in the CareOne Debt Management Plan. Katie is a contributing writer for the Single & settling in blog. Katie's story is not unique.  She lived beyond her means and it caught up to her!  Over 2 years ago she made the decision that no one could get her out of the mess she created with her debt, but her.  Since then, she has embarked on an adventure of learning how to take care of herself without credit cards in her life and how hard it can be to be single and in debt.  She is experiencing every challenge and every success while working her hardest to be debt free. Compensated CareOne Blogger.

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