Just what is a recession?  What are the causes, the effects, and the consequences for the big cities of the United States as well as small towns like Denton.  Foreclosure rates are at an all time high, and although the economy is stated to be improving people are still losing their jobs, their paychecks and their homes. 

The definition of recession is the rate of the decline in the economic and financial sectors. This affects not only big business, but serves to trickle down to the corner market and gas station owners.  Employment is in decline, the gross domestic product is in decline.  Currently the United States could be heading for the most severe time of this recession.  Currently the decline in the housing markets and in other industries is noted, and the losses have been tremendous in those sectors.

And while it seems that there are no ways reliable for individuals to remain secure, there are a few things that financial advisers are suggesting to those in financial crisis, that could serve to help out during this time of economic stress.  Habits are hard to break sometimes.  Not too long ago it was not uncommon for some people to eat out once or twice a week.  Now however, households and individuals really need curb that desire and see it as any unnecessary expense. 

Even though it sounds like a small step, the amount of disposable income one will save is substantial.  And as far as paying off debt or loans, most people want to do that as quickly as possible, but during these times, when people are living month to month and paycheck to paycheck,  it is suggested that one pays simply the amount that is due at a given time.  Some people find that consolidating their loans and their debts makes it easier and more simple to keep track of each month.  And as far as other monthly bills, one needs to take the time to look for the best possible cell phone plan, or the best deal on car insurance.  Any small amount one can save each month, will make a big difference in the long run.