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So by now you have probably heard that we are in a recession. You have probably heard many pundits on TV lamenting our sad state of the union and are starting to get a little worried. Relax! There’s no reason to move to Costa Rica just yet. In fact, it’s safe to say that the recession is not as bad as everyone is making it out to be. After all, for every TV voice that reports negative figures for jobs and income there is also another source providing evidence that the recession is ending.

Regardless of whether the recession ends or continues through 2010, there are some things you can do to survive this time of crisis. Let’s consider five step-by-step points that are indisputable.

1. Work in a critical sector to avoid losing your job.
Who are the first people that are going to be laid off? The ones who perform the least amount of duties. Some of the most important industries right now are health care, food production, government jobs and military jobs. However, managerial retail jobs and construction jobs tend to be scarce. Your career path should be related to the most important industries.

2. Minimize spending as much as possible.
Now is not the time to be spending more money than you have. In fact, it’s best if you spend as little as possible so as to build a larger savings account for emergencies. Think about minimizing entertainment expenses, food expenses and fuel expenses. It might also help to make your own items when possible or fix broken items that you have.

3. Find a niche.
This is especially important if you own your own company. You must find a niche that can provide regular income, even if that customer base is small but fiercely loyal. When money is scarce, niche-trades (such as specific skills and services) grow. Side businesses are also very popular.

4. Keep bargain hunting.
In times of economic prosperity paying full price is not such a big deal. However, when the economy is down it’s time to start bargain hunting. Though this was very difficult during the depression era, affordable Internet services make it much easier to spend less. Buy in bulk when possible for a better deal on products.

5. Reduce your energy usage.
In coming years, the energy industry is going to go through some tremendous changes. Now is the time to learn conservation techniques. Limit the usage of your largest appliances and devices.

In short, try to live as if you were worse off than you are. If you take this attitude with you, you can survive the recession.

Albert Mensah is a Certified Speaking Professional. Originally from the impoverished African nation of Ghana, Albert travels the country speaking, motivating and inspiring. He has performed as a keynote speaker for companies including Allstate Insurance, Starbucks, Nordstrom, Boeing, John Deere Corporation, Wells Fargo and more. Visit AlbertMensah.com to learn more.