A Helpful Nag From Uncle Bob
Hey kids, just to refresh your memory, I still think we are the opening stages of what will become known as the second Great Depression. (I think they will hold off on calling it “Great Depression II” because then people might get worried there will be a whole series.) On top of that, I expect large price inflation in the near future.
So in addition to cutting back on your spending in order to either pay down (variable rate) debt and/or invest in things that respond well to price inflation, I also strongly suggest that you start diversifying your income sources.
In particular, it’s important that you get your foot in the door now as opposed to (say) 6 months from now when everybody knows we are in this for the long haul. So if you want to start doing freelance writing, or want to start cleaning houses on the weekends, or start walking people’s dogs, or…whatever fits your skills and desires, then you should get going on that now. If and when the market crashes or the dollar tanks, every temp agency is going to be overwhelmed with new applications, and Craig’s List etc. is going to be overwhelmed with newly-laid off people looking for one-off jobs. So you want to get your foot in the door now, before the rush.
