Meltdown Survival Handbook

Or: 20 ways to stop worrying and thrive in the recession

By Laura Cassidy, Matthew Halverson, and Jessica Voelker

Illustration: Erwin Sherman

The surest sign that the financial uncertainty turned the clock back: Bartering, the purchasing power of choice since the dawn of human shopping, is making a comeback. (Seriously, it’s 2009—weren’t we supposed to be buying our hydroponic soy lattes by pressing a thumb to biometric pay pads by now?) Trading goods and services straight-up may seem like a straightforward solution in these cash-strapped times, but the old “caveat emptor” maxim still applies, says Dominic Canterbury, the founder of Dibspace, a local online bartering service. His site is designed to simplify the transactions, but if you go it alone, keep the following in mind:

BE ALERT. “There’s something about not receiving cash that makes some people not take the transaction as seriously,” Canterbury says. It’s virtually impossible to make sure you get what you pay for, so deal with people or businesses you trust.

BE DISCRIMINATING. Your time—and goods—are valuable, so don’t go on a spending spree for things you don’t need just because you’re not technically paying for them.

IT’S TAXABLE. What, you didn’t think it would be? The Feds treat bartered goods like any other income, so you’ll have to report your “earnings” at the end of the year.

4. Bling Out Your Brown Bag

Hey there, sad sack. PB&J got you down? Just because you’re saving bucks by packing lunch doesn’t mean you need to eat like a fourth grader. “I love cold pasta salads with cherry tomatoes, feta or fresh mozzarella, cucumbers, and fresh herbs,” says Ericka Burke, chef and owner of Volunteer Park Café. “I use Israeli couscous or gemelli. You can add chopped chicken, ham, or salami. Also farro salads are a favorite—I add spinach or braising greens with beans and veggies.” Or, suggests Burke, go down to your farmers market, pick up a crunchy vegetable, and shave it onto your tuna sandwich. And in the spirit of getting the most out of your produce purchase, she says, “The next day you can use it in a salad.”

5. Reduce, Refuse, Rejuvenate

Imminent economic Armageddon isn’t all bad: What better time than now to reprioritize your values and reassess your work-life balance? “At some basic level, people realize they’re not just here to be productive and earn a paycheck,” says career and personal coach Betsy Gutting. “They’re here to feel alive and vital and to enjoy life.” Amen, sister. Here’s how to get started:

MAKE A LIST. What parts of your job fuel your emotional energy? What parts sap it? Everyone wins if you’re focused on the things you do best, so delegate duties that drag you down.

JUST SAY NO. Shoring up your job security is important, but don’t seek out new responsibilities you’ll hate just to increase your workplace value. “That’s counterproductive to your long-term well being,” Gutting says.

FREE YOUR MIND. Even if you don’t plan to leave your job, stop acting like it’s the only gig you could get; you’ll be surprised how much freedom you feel to assess your current situation more critically.

6. Buy That Boat—With Cash

Seattle retailers, desperate to move kayaks and barbecues, flat-screens and sailboats, have been slashing prices on all kinds of big-ticket toys. But with Washington’s unemployment approaching 10 percent, shouldn’t we all be socking away our earnings? Bellevue-based certified financial planner Steve Juetten, whose practical (but never pedantic) advice has kept Eastsiders in the black since 2001, says, before you take advantage of sales, get frank with yourself about finances.

“I don’t believe in credit unless there is a potential for appreciation,” says Juetten. “A house appreciates. A Coach handbag doesn’t. If you can’t pay in cash, don’t buy it.” Also, before you go a-splurgin’, always ask yourself three questions:

1. Do you have three to six months of living expenses stowed in a savings account in case of emergency?

2. Have you paid off all credit card debt?

3. Are you contributing amply to retirement? (Ten percent if you start in your 20s, fifteen in your 30s, twenty in your 40s.)

If you can answer yes to all of the above, says Juetten, then by all means, spend away.