ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Surviving the Current Economic Crisis

Updated on May 2, 2010

Savvy Recession-Proof Tips

The most effective way to survive the current economic recession is to . . . re-cess your expenses, or at least shave a few dollars off where you can. Sometimes the possibilities might surprise you.

For instance, my wife and I recently discussed our life insurance policies with our agent. What got our attention was a mailed noticed that told us our policies would expire by our mid-seventies, long before we plan to! So, the conversations began.

The results? We doubled the face value of my policy, after a basic health screening process (which was done very politely, but still left me thinking I’d done something ‘criminal’ after all the questioning), without reducing my wife’s policy payout, thanks to the type of life insurance she has [far more coverage at a much lower cost than myself, by the way!]

Doesn’t sound logical so far? Well, a) she came out of all this with far more financial backing (in case my life expectancy turns out to be less than we plan), b) her policy will still pay nearly the original face value on maturity, due to cash value built into the premiums, and c) we save $300 a year by reducing her premiums and paying my increased costs out of the money we were already paying for her insurance.

Besides that, we decided to re-side our house (necessary, due to some minor water damage in the living room), install all-new windows, put on a new roof, and screen in a lower deck (after doing major work inside last year; see one of my other articles, to learn about that!)

Again, this doesn’t seem to make much sense if you want to save money. But, we’re paying for the work by increasing our line of credit at our local bank while interest rates are still low (4%), gaining a $1,500 tax credit in 2009 for energy-efficient windows, and enjoying a bonus room outdoors where we can revel in our back yard that’s full of berms, trees and flowers.

Finally, we plan to do all this despite a 9% cut in my pension funds the next three years by eating out less (the average family eats in a restaurant five times a week, surveys say), buying only essential items (like food) when they’re on sale and using money-saving coupons, while putting all our monthly expenses on a single credit card that gives us Sky Miles (we pay the full balance off each month).

As to ‘luxury’ items, we’ve left our cable service on extended basic. even though our favorite news channel is now only available through a different package for more money (we now view its programs on line the next day). This gives us time to read more books, take longer healthier walks, talk with each other about important things, and sleep well at night rather than worry about money troubles.

Sure, surviving the current economic recession is hard, but it is doable. With a little thought and smart planning, you can reap the benefits of disciplined living as well.

Happy thrifting!


    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)