Don’t Panic. Buck the Slump: Because your best weapon against a recession is knowledge
May 5th, 2008 by Ben Parr | Leave a comment on this post below!Do a quick exercise. Raise your hand in the air (no matter where you are) if you’ve done any of the following in the last month:
- Cut down on your driving because of the cost
- Stopped or changed a daily ritual like buying a morning latte at Starbucks
- Worked just a little harder at work to keep your job secure
- Intend to use your rebate check to pay off a credit card or mortgage instead of spending it
- Put off on buying that new Flat Screen T.V.
- Pulled some of your money out of the stock market (even if you shouldn’t) to make sure it’s still there three years from now
- Stayed in for dinner more often, or simply just cut your budget
- Know a friend or family member who has lost his or her job
Get the picture yet? I don’t even have to tell you how many people have their hands waving in the air; it is a lot. Clearly the collapse of Bear Stearns, the housing crunch, and increasing job cuts are on everybody’s minds. Nobody’s sure what is going to happen next, but until they know, most people, probably including yourself, are taking steps to minimize the impact of a possible recession on their lives.
Let me make it clear: we are not in a recession yet. We’re in a period of slowed growth, but the possibility of recession looms. Regardless of the definitions, it’s time to do something more than cut your spending. It’s time to arm yourself with knowledge.
This is where BucktheSlump.com comes in. We are a news aggregate, a blog, and a community dedicated to topics and issues stemming from the economic downturn and, yes, the looming threat of recession. If you look at our About page, you will find some of the things we are going to do: bring you the major news and talk on the recession, provide analysis. But we’re out to do more. We’re going to bring in great minds and the struggling worker to share their insight and personal stories. Tips and information on how to better prepare yourself, tools to help your friends, and personal stories from those who have been hurt by the slump and those who have risen from great lows.
We made Buck the Slump for one reason: to help people through this. We hope this information will be useful to you now and in the future, whenever hard times hit. The information we will provide here will be useful you to you for the rest of your life, even long after the economy recovers. So please, visit the site, join the community, or tell your own story to our readers.
In the meantime, if you have any ideas for topics we should cover, important news stories, or ideas to improve Buck the Slump, we encourage you to email us or, better yet, leave a comment.
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