THE “R” CARD(S)

“Recession,” “resource optimization” and “reward.” All “R” cards are in play.

Recession

Today’s AdAge.com provides perspective on how the mortgage crisis will impact the marketing and media industries. It turns out few business categories are exempt from the results an economic downturn may have on our earning and spending power. Ad execs, the people who politely persuade us to swipe our credit/debit cards at the register, share their predictions @ http://adage.com/article?article_id=123055.

Resource optimization

However you interpret this phrase, you’re right! To avoid being burned by the recession, opt out of the “affluenza craze” with the book Generation Debt: Take Control of Your Money—A How-to Guide by Carmen Wong Ulrich. She encourages audiences, particularly people under 30 to take advantage of free, convenient financial planning tools like http://wesabe.com and http://geezeo.com. Budgeting, credit card management and tons of other info is at your fingertips. Practically the only thing the websites don’t calculate is the percentage of site visitors who actually take the sound online advice.

In my view, it’s always best to play the “resource optimization” card. Everyone has resources that can put you on a path to financial freedom. The primary resource is your brain.

Reward

Pay bills on time. If necessary, negotiate with creditors. Get financially smart. Watch Suze Orman or another financial guru. Follow the old adage: “Neither a borrower or a lender be.”

Resource optimization can also mean “repurposing” cherished possessions on Ebay to stay liquid. Or, you can thoroughly recycle personal spending habits and halt unnecessary credit card use. We all know you do have to have some plastic in today’s ATM (Automatically Taking your Money) driven world; just be prudent with your visits to the cash machine. It’s so easy to swipe; sometimes you have to rethink purchases and “just say no.”

Start now to recession proof your wallet and optimize resources. Rewards will follow!