The recession has caused the U.S. economy to shed hundreds of thousands of jobs since 2008. The media is filled with stories of families losing their homes, filing for bankruptcy, and selling off their possessions.
Such stories are not fictional; they are real for many people. Hard times cause people to seek escapes from the stressful challenges of today's economic environment.
The unemployed send hundreds of resumes per week, and after such toil without any interview prospects, people look for breaks or outlets such as watching television, surfing the internet, and going to the movies.
According to a Nielsen research study from 2006, American households spend a whopping 8 hours a day or more watching television. And that figure doesn't even include time wasters such as internet-surfing and movie-watching.
These activities are called non-value-added activities because they do not bring in additional income to a struggling American family.
In adverse times, when cash balances are diminishing, it is necessary to stop engaging activities in such activities, no matter how tempting. Even children can take over some of the household chores so that adults can secure a second or third job.
The common sense ways of surviving uncertain times are to: (1) pile cash, (2) reduce expenses to an absolute minimum, (3) stop all non-cash-producing activities, and (4) retain focus and faith.
Watching television only makes you susceptible to a variety of advertisements and commercials, typically peddling non-essential goods and services. Vendors are imploring you to buy vehicles, make up, sports equipment and other junk.
If you do not exercise self-restraint, you may be induced to spend your cash on non-essentials. Remember, the actors and actresses on the tube and on your computer screen are paid to get you to waste your cash. Will you be gullible?
Times are hard. Stick your chin out and stack that cash. If what you are doing doesn't make you money, then you may be asking for your difficult and stressful times to continue. It's up to you to be responsible for your own situation.
Job loss can have devastating affects on both individuals and families. To learn how to anticipate the job loss and quickly get back on your feet, check out Losing Your Job: From A To Z.