8 Lessons Learned From The Great Depression
Home » Financial » American Finance » 8 Lessons Learned From The Great Depression

8 Lessons Learned From The Great Depression

8 Lessons Learned From The Great Depression

December 3, 2013, by Ken Jorgustin

The Great Depression of the late 1920s and 1930s was a reflection of high unemployment, staggering debt, and a collapsed stock market. The hardship that resulted has not been experienced by Americans since. Those at the time somehow lived through it, and will tell you lessons learned, including the following…

This image was selected as a picture of the we...

This image was selected as a picture of the week on the Malay Wikipedia for the 1st week, 2010. (Photo credit: Wikipedia)

USE WHAT YOU’VE GOT

 

Find resources in unlikely places. Do not throw anything away. Find uses for things that otherwise would have been unnoticed. Pool your resources. Be practical about everything. Use space and resources wisely. Live and survive with less. Find multiple uses.

 

 

GROW YOUR OWN

 

Generate your own food in gardens to supplement your diet. Consider unlikely places for a garden like rooftops and vacant lots. Learn to preserve your harvest.

 

 

CASH, NOT DEBT

 

Debt is a dirty word. Don’t dig yourself deeper in debt by using credit. Pay with currency that you have, and don’t borrow.

 

 

MOVE IF YOU HAVE TO

 

You may have to move to where there is work. Some places have higher unemployment than others. Some places are safer than others.

 

 

KNOW A DEAL WHEN YOU SEE IT

 

Cut spending by looking for deals. Buy only what you need and spend wisely. Learn to repair what you have instead of buying new. Recycle it for another purpose.

 

 

ADAPT AND DIVERSIFY

 

You may have to change your business or your job. Learn skills that are more in demand for employment and those which can help you survive. Become flexible.

 

 

BAND TOGETHER

 

Communities that band together help each-other. There is power in numbers. Stick together for financial support, emotional support, better security and better production.

 

DESPAIR NOT

 

Try not to worry. It will get better. Somehow.
“Tomorrow I could lose everything, but somehow I’m not afraid. I really am not.”

Continue reading at 8 Lessons Learned From The Great Depression.

Be Sociable, Share!

You must be logged in to post a comment Login

http://ad4.liverail.com/?LR_PUBLISHER_ID=26258&LR_SCHEMA=vast2-vpaid&LR_VERTICAL=preroll&LR_URL=[page_url_macro]&LR_AUTOPLAY=0&LR_CONTENT=6&LR_MUTED=0&LR_VIDEO_ID=[player_videoid_macro]&LR_TITLE=[video_title_macro]