Eric Chester, President and founder of Generation Why, Inc., shared some tips about recession-proofing yourself, specifically for twentysomethings. Read the whole article here.
Here are some of Eric's tips:
1. The sky isn't falling. Things are pretty wild right now, and lots of Chicken Littles are telling you to be afraid. The truth is that events are bound to bring more changes than you like. You may watch some of your peers lose their jobs, while others will end up with cut wages. But we're not going to unplug the sun and live in the dark. Things will get better, and we will get through this just as we have in the past. You are, however, going to have to be mentally tougher than you've had to be in the past.
2. Don't take your job lightly. You've always had the upper hand in the employment equation. You could likely name your hours, salary, and title, and take days off if you felt like it. Those days are over, at least for the foreseeable future. Your boss is in the driver's seat, and you will have to reapply for your job every day. How? Pay attention to the things that may tick him or her off: showing up late, calling in sick, turning in shoddy work, and being anything less than a first-rate professional. Bring your "A Game" to work; focus on what you're giving, not what you're getting. There are others who have lost their jobs, and they want yours.
3. Save like a maniac. You've been cautioned to save for a rainy day, right? It's raining! If you've been living from check to check and maxing out your credit cards, things are going to turn very ugly for you. Save a minimum of 10% from every paycheck - until the day you retire. Make sacrifices wherever you can; live within your means. Downsize your apartment, your car, and your addiction to shoes and video games. Learn the difference between your needs and your wants. The closer you get to being debt-free, the better you will sleep each night, and the easier it will be for you to make a career move if an opportunity presents itself.

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