ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Get out of Jail Free

Updated on April 5, 2011

Monopoly was and is a great game.  While the lessons it teaches are probably not ideal in today’s post recession economy the enjoyment of becoming a tycoon and “owning” the world is something that has no compare in our western society.

However while Monopoly is a game the fact that it was actually the “sub-prime” mortgages and housing in general that caused this recession (in a very simplistic explanatory way) is somewhat ironic really and it makes you wonder how many people were playing it and if in some of those cases they were not just playing a game but were rather playing for keeps with our money!

This most recent global recession has had a very large impact on almost everyone.  Quite a few people lost their jobs through redundancies and in addition people had to deal with significant pay and bonus cuts which impacted their bottom line. 

Now while you cannot always control what your employer is going to do – there are things that you can do to minimize the impact of their actions on your life – namely sorting out your own personal finances and reducing your risk and exposure.  Here are some tips that I’ve mentioned in other places (here and here) but they are somewhat timeless and bear repeating.

Budgets –

I’ve mentioned budgets and budgeting many times in the past and it is absolutely essential.  Without knowing where your funds are going you will never be able to start saving and getting into a better place.  A budget is almost the first thing that you should do as with that in hand, quite a few of the other pieces tend to fall into place naturally.

Outstanding Debts –

The best thing that you can do to protect yourself is ensure that you do not have any outstanding debts.  Aside from the fact that unsecured debt impacts your credit rating, the stress of carrying this extra burden is ruinous in and of itself.

Credit Cards and Reward Cards – I won’t say that credit cards are an automatic evil.  In fact if you use them correctly you can actually make money with them with the plethora of reward cards and offers out there but the key at all times is that you need to ensure you are paying your outstanding balance in full at the end of every month.  Simply put carrying a balance on your card is a definite no-no and should be avoided at all costs.

Window Shopping –

Shopping therapy unfortunately is a fact of life, however this must be avoided as it is a very slippery slope and could lead to disaster. Take advantage of the Internet and do your shopping online ... it’s not only a time saver but could end up saving you a significant amount of money also!

Emergency Funds –

The common wisdom is that your emergency fund should be the equivalent of three months’ salary.  This way in case you are out of work, you have a buffer to protect yourself, but if you cannot get your emergency fund up to three times your salary even a small amount helps!


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)