Ready Or Not The Recession Is Here

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Ready Or Not The Recession Is Here

Рет қаралды 7,477

A Good Life

Күн бұрын

Survive this recession with an economic life raft.

Пікірлер: 62

@pattiellen5339 3 ай бұрын

I am a barber in a blue-collar neighborhood. People are getting their hair cut less frequently, tipping less or not at all, and credit card use over cash has almost doubled in two years. People wait until they get a paycheck to get a haircut. More senior men are unable to make ends meet. For many people, the recession has been here for a while. Several years back I started living on a shoestring so that I could put away enough money to create a fund to fall back on in case I got injured or sick, or for some reason couldn't work. I put aside enough to cover a years expenses. Then the pandemic happened, and I wasn't blindsided by it. I was just fine. It is so important to live below your means.

@StevenAbbott 3 ай бұрын

The barber always knows how the economy is doing. We should have a barber index

@pattiellen5339 3 ай бұрын

@@StevenAbbottWell, The Barber's Almanac is always correct, so why not?

@scw2cool 3 ай бұрын

The depression is more than economic. People are severly depressed mentally and exasperated. Productivity is as an all time low. Everyone is all out of fu¢ks.

@adammontgomery7980 3 ай бұрын

Out of f**ks especially since there's seems to be plenty to go around if you are Ukraine, Israel, or another non-citizen.

@lancebennington5327 3 ай бұрын

Agreed. I think the saddest part is, all of this was completely avoidable. If those in power actually governed in a way that was good for ordinary people, we would not be here. Instead they serve shareholders & special interest groups that profit off humanities decline.

@martincagle9226 3 ай бұрын

@@lancebennington5327kickbacks is their priority

@ShaneLinkMarshall 3 ай бұрын

The Lord himself has been looking out for me. Recently, I’d started having seizures randomly & lost my job, more than once from having a seizure at work.. Couldn’t predict THAT itself, but I had been listening to the spirit for years now to keep my expenses as low as possible. Before Covid started, I purchased an RV & held onto it, slowly renovating it and upgrading engine parts for way less than what I had been spending on rent. Embracing RV life, keeping my own personal desires subdued, I’ve fixed everything I can as far as the engine goes.. Surviving Florida heat without A/C isn’t easy but it’s possible. I’ve got videos on my channel Id filmed to attempt to help & cheer up anyone else in a similar situation but I may just start filming again like you mentioned. RV life has plenty of ups & downs. But.. the biggest advantage living this way, is not having payments for anything.

@rodhonco5681 3 ай бұрын

Good job!

@andrewolson269 3 ай бұрын

I love this channel Full of wholesome Godly wisdom Which we all need God bless

@saltydog3394 3 ай бұрын

So far so good, I have enjoyed the videos so I subbed up to catch some more of the good ole fashion straight talk!

@chrishenkel2194 3 ай бұрын

Dad, DAD is that you... Haha l'm your long lost Australian son..

@livingsimplewithtom9539 3 ай бұрын

LOL

@TheDoomWizard 3 ай бұрын

I just moved off-grid into a cabin this week. This doesn't end well. America is collapsing from the inside out.

@video_head 3 ай бұрын

What do you do all day, I’m curious.

@Blessed_Souls 3 ай бұрын

The video games industry is a great example of the United States being in a recession. Studios are closing, being defunded, employees are getting laid off, and everyone keeps blaming the companies and executives but nobody is thinking about the economy and the diminishment of the US dollar. Young people have no idea what a recession is and are blind to what they’re living in.

@FreedomTalkMedia 3 ай бұрын

If everyone we're ready for it, it wouldn't happen.

@guesswho7625 3 ай бұрын

Ironically, i work in automotive sector aswell in ms. They just cut hours to 32 aswell. In business they call it entrenchment.

@ImnotChuck. 3 ай бұрын

Excellent advice. One thing I would add is that those who do not understand cash flow need to make it their top priority and do it NOW. The word "budget" is a negative concept to lots of folks, but it shouldn't be. It is the absolute beginning to financial stability. The first step is making a list of all expenses, and I mean all of them. Make a list that includes each by name, when it comes due, how often it comes due, and how much it is. Then, make a list of all income, when it comes in, how often it comes in, and how much it is. Next, compare the two by date in order to see when there are shortages and when there are surpluses. This will be an eye-opening experience. A surplus in June is good news, but it doesn't necessarily mean there is money that can be spent in June; it may be that money needs to be saved to cover a shortage that is coming in July. And that is cash flow analysis in a nutshell...comparing expenses to income over time and planning spending to accommodate the results. It may be hard to get started, but it is absolutely worth the effort and will become easier over time. In fact, it may become easy once it is understood and put into practice. It is the beginning of financial peace.

@jordanford9612 3 ай бұрын

Thank u 4 not only a good wholesome video but words that are seemingly calming.

@jstrunck 3 ай бұрын

Sorry to hear about the loss of hours at the workplace. It almost seems like an indirect cash flow reversal. Hopefully they will get the workplace straightened out soon. You are right about recession, time goes on, and change is inevitable. Btw, I hope Mrs. Rivers won’t be in a bad mood due to the collard greens get up. All kidding aside, they aren’t too bad I suppose.

@flpete 3 ай бұрын

I agree, things will get better. Ive been down on luck before but iam doing better & learned to save money. Glad i did

@livingsimplewithtom9539 3 ай бұрын

I thinks it's down times that teach us the lessons we need to learn. I guess it's how we look at those down times, learning opportunities or catastrophes, that makes all of the difference?

@joshfrench6426 3 ай бұрын

It'll take a decade to even remotely get to better times. The US is in deep shit right now

@hockeytownluv2012 3 ай бұрын

Great advice Tom...I sat down and came up with a new budget. It really took the stress off my wallet. Thank the good Lord

@garylester3976 3 ай бұрын

The only wise use of money, is getting things or doing things that reduce or eliminate your dependency on money.

@OMGWUNSIU 3 ай бұрын

As always great content and listening to you seems like I’m sitting down and having a chat with an old friend. You are a good American sir. I hope you make good progress on your new project and thank you for sharing your life with us.

@johnl5974 3 ай бұрын

A private water well isn't free. Pull a pump because a fitting corroded through $729, Replace the switch - another $150. sediment filter - $4.30 a month. (USA made, and way BETTER and cheaper than chinee- Micron Filter Cartridge Co - I'm just a customer., no other relationship)

@bodhixxx1 3 ай бұрын

that is cheap compared to my wells it is over $3,000

@mph5896 3 ай бұрын

Correct, plus disposal of the waste water. BUT In my particular case its actually cheaper over municipal water/sewer. My New well 9 years ago for $6400 paid for itself in those 9 years in comparison to a water/sewer bill. It now owes me nothing. Hopefully the septic holds up😅

@livingsimplewithtom9539 3 ай бұрын

John, the well is a long ways off for me but I know it's something that I've got a lot to learn about when the time comes. They were pretty simple when I was young. A hole in the ground, hand dug, and a pump. But like everything wells and all that go with them have changed a lot since then!

@rosswitte 2 ай бұрын

Tom I am seeing this a month later obviously, however, I want you to consider using your vacation hours in times like these. My concern is the company may go belly up and then you don't get paid for your vacation time. I am sure you know more about your own company, but don't leave anything on the table if you can help it.

@robertalkemade989 3 ай бұрын

cant afford my handywoman anymore

@ethanetn 3 ай бұрын

I got around 13k on me right now and im trying to pump up my savings to 15k. Im hoping i can coast off of that for over a year with some sort of supplemental income in a worse case scenario until things get better. Im just worried things are gonna get even more expensive

@wesleyb82 3 ай бұрын

Just because something hasn't happened in our lifetime doesn't mean it can't happen. It would be great if this is another bump in the road but if you really dig into it this is possibly something a lot bigger. Like time to get closer to God bigger. Coming to terms with that and preparing could make the difference so we all need to look at that possibility honestly

@3namechangezalowdevry90day7 3 ай бұрын

Don't "save" your vacation and sick days! Cash them in and save the money. Interest rates are good now. Or you can buy non perishable foods as a hedge against inflation. If your company closes or gets bought by another company, all those sick and vacation hours disappear! It happened to the janitors at one place I worked. The company changed to using a subcontractor, who kept the same employees, but their banked paid time off hours were GONE.

@joshfrench6426 3 ай бұрын

Lol you can't cash in your sick days. What world do you live in?

@3namechangezalowdevry90day7 3 ай бұрын

@@joshfrench6426 My last employer paid 75¢ on the dollar based on your hourly wage for each PTO hour. If your employer won't do that, use some of the hours up and invest that off day doing something that'll make or save you money. Some companies' PTO only accumulates up to a certain amount, OR you could lose it all if there's an acquisition of your company by another company.

@3namechangezalowdevry90day7 2 ай бұрын

@@joshfrench6426 One of my jobs paid .75¢ to the dollar for PTO days not taken. Even if that's not an option , use them up! Your company could change hands and you could lose them all.

@3namechangezalowdevry90day7 2 ай бұрын

@@joshfrench6426 One of my jobs paid .75¢ to the dollar for PTO days not taken. Even if that's not an option , use them up! Your company could change hands and you could lose them all.

@3namechangezalowdevry90day7 2 ай бұрын

@@joshfrench6426 Use them up. You could get laid off or the company could change hands

@gezenews 3 ай бұрын

Dont have one. Couldn't build one as rent and food and gas increased all the same time, equal with my earning. I was up to barely 6 figures and still drowning. Not sure what I was supposed to be doing differently. I spent the entire last decade completely focused on work or school.

@hyland6 3 ай бұрын

I wouldn't go to a boomer for any kind of practical advice

@joshfrench6426 3 ай бұрын

@@hyland6 Exactly. They will get absolutely wrecked when shit hits the fan

@adammontgomery7980 3 ай бұрын

I would also add, if you can reduce your expenses by 40%, why not do that every month. People aren't socking away money like they used to and I, for one, think we need to reevaluate our standards of living. I don't mean live like a monk, but do we really need: cable, netflix, hulu, AND disney?

@jamesfinch7311 3 ай бұрын

progress not perfection

@Zachrys 3 ай бұрын

I’ve often dreamed about getting laid off on Oct 1st for obvious reasons ha. Takes a lot of sacrifice over the years to be financially secure though. Thanks Tom!

@harrybaulz666 3 ай бұрын

Oh no another expert

@livingsimplewithtom9539 3 ай бұрын

I always thought of myself as the anti expert? LOL

@TroyHanson-ch6nm 3 ай бұрын

Dude the recession has been here almost 2 full years we are in a depression now. Don't your eyes work ?

@gezenews 3 ай бұрын

People were eating well off printed money for those 2 years. That's why it got this bad. And by people I mean asset holders an their direct associates.

@gregm6652 3 ай бұрын

This is common sense, which is sorely lacking in today's youth. Know where your money is going. Don't spend what you don't have. Cancel NetFlix and Disney if you have to, learn to read a book. And, yes, it's happening in retail (cutting hours), technology, loads of places are hurting, and they're going to place the burden on the backs of the workers because face it there's a lot of people out there right now who will do the job if given the chance, and too many taking it for granted. Those are the ones who are going to get hurt worst.