Readers react with tips on surviving recession

Some economists think recession is avoidable next year, others place the chance near 50 percent of a downturn in 2008. We asked readers for their tips on thriving in a recession.

Some readers had a political take on the issue. Some used humor. And more than a few of  you took the point of view of David in North Carolina whose two word response was: “What recession?”

Here is a sampling of the responses:

There is no recession
Please repeat after me Mister Overzealous Manipulating Media type! There is no recession... There is no recession... There is no recession! If you and your kind would just stop harping on a non-existing situation just to sell ad space, everyone could be making more money. — Steve, Florida

Simple
Simple. Quit buying things that you are unable to afford. — Steve, California

Old fashioned
I am a "little" old-fashioned. Develop a six-month plan to reduce any expenses or increase any income. The plan should be implemented immediately so you can realize the results at the end of the six months. Select an expense (or two) that is very realistic. Income may be increased by working part-time almost anywhere for that six-month period.  — William, Scotland

A shame
What a shame. There is no recession, nor do most economist see one coming. Nevertheless, msnbc.com plays chicken little asking folks how they will survive the coming recession. From Bird Flu to SARS to Global Warming and Recessions, the news media do more harm that stoking fear of things that probably won't ever come to pass. — Joe, Ohio

Snacks
Eat fewer snacks. Snacks are expensive. Eat lots of potatoes...they are cheap and filling. — Tom, N.Y.

Cut up
Cut up your credit cards, deal only in cash, and eat at home. — Carol, Wash.

Refinance
Do not carry a balance on your credit cards, and pay them when due. Do not finance with an adjustable-rate mortgage. When I purchased my house the loan immediately went to 13 percent and I refinanced with a 30-year fixed-rate loan. — Joe, Calif.

Mac and cheese
Get a second job and eat more mac and cheese. — Rockwell, N.Y.

Eat in
Do not eat out. Sell car if possible. Pay down debt. Work overtime or take second job. — James, S.C.

Normal cycle
Just continue on your spending as normal if you are not drastically affected by a recession. This is just a part of the market cycle, booms and busts. Everything is psychologically driven. The more we tighten, jobs are lost and the economy suffers. The more we spend, jobs are created and the economy grows. Money just doesn't disappear, it changes hands. — Adam, Fla.

Own everything
My tip and it is one that I live buy. Other than the apartment I rent, own everything you possess. Other than a mortgage, try to limit credit purchases of any kind including vehicles. That if the “you know what” hits the fan, at least the banks and credit companies can't take EVERYTHING! — Alex, Fla.

Live within your means
Live and budget within your means. Spend on essentials and start saving. Next year will be a good time to start looking at heavily discounted real estate and never used last year's car models. — Bob, Fla.

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