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Who best to ask for practical advice concerning what to do in an economic recession than my depression-
experienced 89 year-old grandma!? Having experienced the depression along with her 7 siblings, she
has strong opinions about “being prepared” during this recession. Unlike during the Great Depression, my
grandma says that people now have more time to prepare for the future.

Here are her suggestions, along with her added emphasis to “start now”.

1. Govern your expenses

Now is the time to be prudent with your money. Buy only what is necessary. You must know how

much money you’re getting in wages, and how much money is going out. She’s a strong believer

in putting savings into banks backed by F.D.I.C.

Never buy on credit. Even if you think you can’t get along without the item, you can get along

without it. People surprise themselves and can do it.

Don’t get talked into get-rich schemes. This is not a time to gamble. Her friends who did had

large financial losses. Do not spend recklessly on items like stocks, real estate, bonds, i.e., no

quick decisions without thinking them through. Speculation-type activities should only be done

if you have

excess

that you wouldn’t care to lose.

2. Get food staples

Keep bulk staples on hand. Potatoes were her family’s favorite staple. They had large bags of

potatoes and made many food dishes out of them. Potatoes were inexpensive and convenient

for her family to buy. You’ll want to determine multiple ways of preparing your favorite

inexpensive staple (rice, potatoes, oatmeal, cornmeal, flour), so not to get “bored”.

3. Curtail going out

Money can be saved by making your own home entertainment rather than spending money by

going out. We discussed plenty of examples. Dine in rather than going to a restaurant. Be

creative with your fitness exercises, rather than pay for a gym membership. Go for a hike or walk

in the park. Her family would use the dining room table as a ping-pong table.

4. Make things last longer

Use hand-me-downs and repair, re-sole, re-hem rather than throw out. She told me a story of

getting her older sister’s shoes once her feet grew. She also wore shoes longer instead of buying

a new pair. In fact, cardboard was her re-soling material, though she talked about not being so

fond of the rain in those shoes.

5. Learn to do things by yourself -- AS a family and FOR the family

It is a step back in time for some… learn to sew, bake, garden, can and dry food. These skills

helped the family in dire times. In those days, “You could raise chickens, rabbits, vegetables,

and of course pray for rain. We watched our parents diligently. I know how to skin a rabbit, but of

course I’d hate to do it!” This sounded so foreign to me, almost humorous, coming from my city-

dwelling grandma.

Those learning experiences from family members and neighbors, she explained, brought the

family closer together. The family was able to share interests, learn from each other, and guide

the children better.

6. Do with what you have

I asked about attitudes. She said no one complained. The children knew their folks were so busy

trying to make ends meet. On one occasion having no eggs in the house, Grandma recalled

making potato pancakes without them. “It wasn’t that good”, she said. When they didn’t have

peanut butter, they would toast bread, spread lard (cheap to get), and add onion slices. I got the

sense again that it was a team effort in the household and community.

There was also a pervasive aura of “safety” and care. The children were consciously careful not

to get hurt or do anything “dangerous”, because there was no money to pay the doctors.

When’s the last time we didn’t complain? Or when we felt gratitude for the little things in life?

I couldn’t end this article without including Grandma’s potato pancake recipe. Written as it was told to
me… Buy 2 large, fresh, nice looking potatoes. Peel and core eyes out. Rinse them. Grate them in
bowl. Remove some of the excess potato water (depends on the consistency you want). Beat an egg and
add to the potato mixture. Pinch of salt. One tablespoon of flour. Mix together. Let it stand for ½ hour to
thicken. Then fry like you would any other pancakes, browning both sides. You can reheat any leftovers.
Topping Choices: Preserves, syrup, sour cream, and her favorite, apple sauce. “Less is better”, she says,
for the toppings on these pancakes. Enjoy! I’m off to eat.

About The Author:
Theresa Swift, MS, CRC, is a life and business coach, author, and president of Swift Resolve Coaching.
A change specialist, she coaches those who are ready to transform their lives, businesses and
relationships.

Permission is granted to either reproduce copy or distribute article so long as this copyright notice
and full information about contacting the author is attached. The author is Theresa Swift, President of
Swift Resolve Coaching, http://www.swiftresolvecoaching.com/ PO Box 3142, Laguna Hills, CA,
92654. 408-835-3713.



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