How to face the down turn economy ?/Carlos Pueblo

 How to face the down turn economy ?/Carlos Pueblo

The current inflation to the stock market crushed is a concern for most of the consumer. I am not the one who is scared because that I know how to face the down turn economy. Before 1975, I was in Taiwan, I learned the inflation of the early 1970 due to the oil embargo of Saudi's Romani. My Dad's business was totally wiped out because he could sold out his steel bearing products easily and quickly yet he could not purchase the raw material to make the same amount of product with the amount of money he got. That's how fast the inflation was at that time in Taiwan. He filed bankruptcy and wiped out all his retirement fund about US$3,000 at that time. He explained it to me and I learned it very well. I was making about US$100 a month as a new senior school chemistry teacher and I gave $50 to him, $25 to my Mom for food and the rest to prepare for the cost to come to the U.S.

I always have a very clear mind of the money. Now, I do have enough retirement funds to live by. I consider to postpone my three cruise trips in the fall due to the rate and the mid-term election. The trips are not necessary and it won't hurt to save that money and I don't need to worry about the absentee ballot.

I help Amy to buy the grocery, mainly steaks, fruits, and some on sale items. She doesn't know how and doesn't care. I watch the weekly advertisement on Wednesday junk mails. There is a new marketing system available with two supermarkets. I can buy limited on sale items such as Rib Eyes steak or T-Bone Steak for about $5 a pound, 20 lbs. plus water melon for $5 a piece, 19 cent a ear of corn, etc. I only eat happily when I get them on sale.

I only drive to play tennis and swimming. I even walk to my bank to make a deposit check. I drive a 25 years old vehicle. I borrow money from bank credit cards too yet I always pay them off before the 0% rate expired.

A frugal life style and gaining knowledge are very essential to face the down turn economy. I have been through the previous down turn such as 1987 and 2008. Both were brief and the U.S. Economy has come back quickly. The U.S. is the most dynamic and power house of the world.