"Own Nothing. Have Everything!"

Can you believe it? Those are the words of a recent Napster ad! How are we, the American people, achieving this state? Through credit cards, of course. But what dangers lurk there for the hapless person who suddenly gets laid off? If you get a pink slip and have large credit card debt, you’ll be forced to spend too much psychic energy worrying about how to juggle debt and not enough time looking for a new job.

So try what one of our clients did: She froze her credit cards in a 10-gallon glass jar. That way, when she wanted to buy something, she had a long time to think it over while the ice melted. Another clever couple swapped houses for their vacation, rather than racking up another $4,000 in bills for fancy hotels.

What can you do to save a little dough as a hedge against a time when your pay check might be cut off while you look for another position?

Comments

[J.C. Carvill]

Try to live the way we lived 20 years ago... Not much to spend at that time... Cut the trip to restaurants, prepare our own meal. Cut the time we spend on internet connection and television. Don't go to mall except we really-really need to buy something (remember, stick to the shopping list). Take our children to play in the community playground instead of taking them to game arcade. In short, there are many good old ways we can try.

J.C. Carvill
Email: support@cosmosing.com
URL: http://www.cosmosing.com/jeanclaudecarvill/index.php

[Todd Waymon]

Carville is right. And the whole point of the post is to remind folks of one of the 5 "FireProof" techniques: wise financial management. Over-extended means vulnerable. Stay disciplined and stay in charge.