It's important to save where you can, but it's just as critical to spend where you should.
Home improvements: A recession is a great time to do work on your home. Materials will be discounted, since demand will be low. Labor is plentiful and cheap. And if the work increases the value of the house, spending extra money to get them done when times are tough makes financial sense.
Your health: Your health is always important, but it is even more crucial during dour economic times. You can't afford to miss work for an extended period without placing your job at risk. Preventive measures, even if they cost extra, are important. In addition, you need to quickly address ailments so they don't turn into something major later on.
Quality food: Food tends to be one of the few budget items that can be juggled to save money here and there. The problem is that people often choose to buy poorer quality food, which isn't as healthy. The food you eat will determine your energy level and resistance to colds and illnesses. Also, learn the tricks of the coupon trade so you can get quality food and save money at the same time.
Retirement: If you have the money, now's the time to buy stocks and other investments, especially if your timeline for needing the money is decades away. Although people feel more secure when the stock market is rising, that's when equities are more expensive. Stocks today are less than half of what they were at their peak—a bargain.
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