Live as if you’ve already lost

This may not seem like the best of advice but in these tough economic times it may be the best advice. Live as if you’ve already lost, means that you should live your life as if you have lost your job. Living as if you have lost your job may help you get through some tough times.

To live as if you have lost your job you must cut out everything you can. You may be surprised at how much money you can save if you cut back on everything but the essentials. If you can cut everything for three months you may even be able to save up a three month emergency fund. You should also try to pay off as much of your credit card debt as you can.

By paying off as much of your credit card debt as you can then if the worst happens and you do lose your job then you will not have those payments. If you keep your job then you will get to feel the joy of being the only person you know without credit card debt. You could then use the money you were sending to your credit cards to pay down other debt or put it into a retirement account. The same is true of the money you save. You will be proud that you saved what you could if you do lose your job or you will have a nice little nest egg for when the economy does turn around.

Live as if you have already lost and you may find that you really win.