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We’re In A Recession

The National Bureau of Economic Research has determined that the United States economy has been in a recession since December of 2007 [3]… this really comes as no surprise to most people. In fact, last October, I wrote a post outlining what I think one should do during a recession [4] and that one predates the technical start of the recession by a good two months (here’s what you all said when I asked whether we were in a recession last August [5]). If you boosted your emergency fund starting then, you would’ve had a two-month head start on the recession! The lesson from this? Believe me! (Ok ok, I’m only kidding, I can’t see the future and I’m probably wrong more often than I’m right on about everything)

Since then, I’ve been focusing a lot more of my articles on frugality [6] (such as 100 money saving tips [7] and 11 tips to save on shipping [8]) because I think frugality is the way we can get ourselves, individually, through this economic slump. More broadly, we need people and businesses to spend money so the economy recovers but individually, and this is selfish advice, you need to have a bunker mentality and save your way through this.

Stick that money in your mattress, a high rate CD [9], or a plain old online savings bank [10]… until the clouds roll past anyway.

(Photo: bobjagendorf [11])