Is there such a thing as living a lifestyle that will protect you against a recession and even depression? I know the answer is to be extremely wealthy or come from a family of wealth. I believe there is a way to live a great standard of life before, during, and after a recession, and it involves frugality.
Frugality is the quality of being frugal or prudent in saving; the lack of wastefulness:
“Many people who have lived through periods of economic deprivation develop lifelong habits of frugality and are almost never tempted by wasteful consumption.”
Learn to live below your means and stop being wasteful! Some try to live at and even above their means, and that is a huge mistake. It will cost you dearly in the event of a recession or losing employment. Consumption with moderation can be a favored ally. Keeping up with the Jones’ will be detrimental to recession-proof living.
I’ve been fortunate to earn a sizable income in my work life and had many opportunities to purchase huge homes, big cars, and take elaborate vacations, but I chose to help others and save for a rainy day. In no way am I suggesting we do not live a good quality of life, but I am suggesting you live according to goals, vision for the future, a mission to helping others, and yes, recession-proof living.
Recession is the act of receding or withdrawing. I can take that in several different ways but will let your imagination take you where you need to go after being armed with that definition. The proof is evidenced sufficient to establish a thing as true or to produce belief in its truth. And living can be defined as active or thriving; vigorous; strong.
Recession-Proof Living is thriving when things around you are withdrawing support because you have enough evidence that being frugal is the truth! That’s my interpretation, and I’m sticking to it.
In conclusion, “And He said to them, “Take heed and beware of covetousness, for one’s life does not consist in the abundance of the things he possesses.” Luke 12:15