It’s Like Jumbo Shrimp!
Recently we read about how people coped with the Great Depression.
Which, by the way, sounds like the perfect oxymoron, doesn’t it?
Just like Jumbo Shrimp!
“Great” signifies something pretty awesome but “depression” … well, something not so awesome.
Anyway, we thought we’d share a few of these tips today because we could perhaps learn a thing or two from those who lived through incredibly tough times. Those tough times forced many people to persevere and work hard to create a better situation.
We like that kind of “can-do” attitude, don’t you? Here we go:
#1 Use what you’ve got
Conserve what you have and re-use what you’ve got. You can sometimes find resources in the unlikeliest places – whether it’s going through your “junk pile” in the garage or asking a neighbor’s kid to volunteer their time in exchange for some mentoring.
#2 Grow your own
While small farmers suffered during the Great Depression, those who could generate their own food in small gardens were able to supplement their diet with fresh fruits and vegetables. Self-reliance, especially when it comes to feeding yourself, is an invaluable tool.
#3 Use cash, not credit
Debt was a dirty word for people during the Depression. They also valued gold and silver. Avoid taking on more debt during times like these, so you don’t have to carry an additional burden.
#4 Be open to moving on
High unemployment rates persisted during the Great Depression. However, people were also open to doing something different if their current status quo just wasn’t cutting it. They moved to other states and cities to search for new opportunities. Whatever isn’t working, be open to something different and go after it.
This is something we’ve always tried to do is to “go after it” when we work on financial strategies. Sometimes this means searching for new opportunities to invest differently or helping people get a fresh perspective.
We are always here to help you understand all the aspects of your financial decisions.
Call us if you need anything at 407.960.4052.
All the Best,
Nick and Jerry
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