One thing few people seem to understand is that a downturn in the ecconomy is an opportunity to make a lot of money if you are prepared for it ...
Most people make the mistake of going overboard in boom times, and spend money like drunken soldiers; often they will build up lots of debt and find that they are in a position where they need to make as much (or more) than they currently make in order to pay their bills.
If you have healthy savings you can withstand quite a large shock to your income and/or be able to invest in undervalued investments and get a good return as the ecconomy gets back on track.
I understand that this is easier said than done being that many people have difficulty making ends-meat, but the majority of people living pay-check to pay-check tend to be having difficulty not because they make too little money but because they spend too much money.
