Roth IRA: Not What it Used to Be

I do not have a very large retirement fund (I am 24 and in school), but I am proud that I have one because I have no debt to cancel out my assets. What I have learned from this fund is more important, however, than the money in it (approximately $3,000). I have had this fund for nearly nine years. If I were to add up all the money I have ever contributed, it would not equal the current value of the fund. I do not think I will ever invest my own money without a match into a mutual fund ever again. The Wall Street Journal has called the last ten years a "lost decade" as stock profits have stagnated and have not gained in value during this time. One interesting fact about mutual funds is that there are more mutual funds in existence than publicly traded companys (food for thought).

The other day the New York Times had an article entitled "Coverting Your I.R.A. Into a Roth? How's Your Crystal Ball?" It basically discussed that while accountants and financial advisors can never predict the future when it comes to advising their clients, there is reason to believe that the structure of the Roth I.R.A. will change in the future.

“Some people are looking at the possibility of converting all of their money into Roths, but that could be a very large mistake. What happens if at some point in the future we have a tax revolt? To me, the crazy thing would be not to consider the possibility of crazy things happening in 20 or 40 years.”

-William Z. Suplee IV, of Structured Asset Management

If anything, I.R.A.s are very illiquid. I have had many a friend cash out their I.R.A. during a bout of hard times with plenty of penalities tacked on. In the meantime, I am going to look in to transferring my Roth to Vanguard from TIAA-CREF and will continue to look into smarter ways to invest for the future.

Always Have a Back-Up

Always have a back-up. What is a back-up? A back-up is anything that helps you sleep a little better at night.



How to Back Yourself Up: If you are employed, always have your eyes open for open positions and note how frequently jobs pop up that you are interested in and/or qualified for. Read about positions that are open where you are employed. You may be able to trade up to a higher level position or you can scope out the possibility of being replaced by a new hire. In terms of find a new job, searching online is a handy way to find openings in your area or around the country.

Parents:Your parents took care of you when you were young, so keep up your relationship them. In the event that you ever lose your job and all your savings, you do not want your relationship with your parents to be on the rocks if you ever have to move back home.

Marriage: Being married to someone who has a stable job is the rare kind of "back-up" that is your first line of defense against poverty and destitution. If your spouse is always racking up debt and always spending your money on frivilous things, you may want to consider finding a "back-up" for yourself instead of you being the "back-up" to your irresponsible spouse. From a government standpoint, there are also social security benefits and a multitude of tax benefits to being married (assuming you also have the benefit of being in a happy marriage).

Extracurriculars: Besides work, it is always good to have things to invest yourself in besides your job. Having a fun and creative activity such as music or writing can be a way to bring meaning to your life that doesn't come from work. Volunteering and spending quality time with loved ones is another simple thing that is often put on a backseat to work and work-related demands.

An Actual Back-up: If you feel insecure in your current position take a part-time job or try a volunteer position that could lead to a full-time position. Another option is to start a side business or to try your hand selling something online: thrift-store finds on Ebay, handicrafts on Ebay; or anything creative you can think of on your own website.

Do You Have a Degree to Hustle?

Some educational degrees out there are called "hustler degrees." Having one won't make your life immediately fabulous, but the potential is there--if you have the hustler skillz.

J.D./Law Degree:
In today's market, having one of these degrees does not guarantee you a job, much less six-figure pay. For those hustler out there, there is a wide range of options. One, you can become an ambulance chaser-type and try to cash in big on a medical malpractice or injury suit. Two, you can use your knowledge of the law to enter business. Whether you decide to enter the real estate investment business or simply have the abilities to raise capital--you too, may be heading to Vail this winter. Three, you can be born into a family with lots of money a la Caroline Kennedy or Jared Kushner. Run a newspaper syndicate for all I care; the sky really is the limit (especially when you marry a Trump).

MBA:
No real guarantee of a job here either. For those who want to be hired by big business--your degree may be more of a liability than an asset. For all the hustlers out there, you too can raise capital to your hearts content (see the law paragraph) or start your push-cart business from scratch. Anything is possible (although anything is possible for someone without an MBA). Make the money come to you and may the dollas flow like water.

English B.A., M.A. Whatev:
This could be your ticket to advertising, marketing or best-selling fame and fortune. The only problem is getting over yourself enough to turn your erudition into paying for your college tuition--oh snap. Selling your soul is the secret to this hustler game. Blog about self-help subjects (see Steve Pavlina's website), become a copywriter, become a marketing consultant, or start writing the next Da Vinci Code.

Business B.S.:
Lots of people with these degrees get hired for perfectly good management and administrative positions every year. The difference for the hustler, however, is the ability to sell. Sell oneself, sell the product, sell anything in high volume or a few things with a high profit margin and you will reap the rewards. If you are currently a student in this degree program, take a personal selling course. In this class you will learn all about confidence, rejection, poise, and how to pitch. It also can't hurt to specialize in the product you want to sell: real estate, computer software, chemicals, animal science and medical technology are all fabulous subjects to up your game with.

Filmmaking or Acting:
You don't really need any kind of degree for this, even though theater and filmmaking are two legitimate degree programs. If you're really brave, and really passionate, I would recommend heading straight to Hollywood. Go big or go home. Invest in a personal trainer and making connections instead of a degree. If you already have a degree--work hard and never tell anyone you have a degree in theater or film.

Working for Room and Board

In today's New York Times there was an article that profiled a yoga retreat that had an annual fee of $3,000 and required all residents to work in exchange for room, board, and access to a variety of programs. This article got me thinking about the opportunities available to people who do not want to pay a fee to live somewhere, but rather work in exchange for room and board and a wage, or just room and board.

Farming:
A friend of mine has worked on an organic farm in Alaska. He was given room and board and I believe some pay. He really enjoys being in Alaska and has met some really amazing people. A couple other friends of mine have worked on wildlife preserves in Central America. I am sure there are a multitude of other similar arrangements out there for people willing to work on farms or outdoors. It can be hard work, but it can also be a rewarding and interesting experience for those who are willing.

(Organic Classifieds, AnyWorkAnywhere)

Camps--CLV in particular:
I have personally worked at a camp and I was not employed as a counselor. The camp I worked at was the Concordia Language Villages. CLV has many different language villages that one can choose to work at. If you do happen to know a foreign language fluently and enjoy interacting with kids--great; but if you just want to cook some good food or bake some excellent bread, this may also be the place for you. The locations are often pretty remote (primarily northern Minnesota), but there are plenty of ways to occupy yourself, in addition to learning a mad amount about international cuisine and the like. The food is great, the sleeping areas are ok, and regular staff members typically get paid more than counselors. Other camps in your area may also have similar opportunities for room, board, and a wage. And remember, you do not have to be employed as a counselor to work in a beautiful setting with lots of activity and positive energy.

(CLV, Camp Jobs)

The Park Service:
The Conservation Corps and the Park Service are two reliable places to find untraditional work (if you can get in). There are many options to do seasonal work, to volunteer, and to get a permanent position. The Conservation Corps is more geared to younger workers, but the volunteer positions may be appropriate for seniors who simply want to travel.

(Park Service, Conservation Corps)

Teaching English and the Government Service: An acquintance of mine works in Korea and teaches English. In return he receives room and board and a healthy stipdend (he also found love, but that is a different story). This option appears to be open to anyone with a college degree. Despite being challenging, one can choose to work in Asia, Europe, or elsewhere. The military is also a choice if one wants to go abroad and "see the world." It may be a part of the world you do not want to see, but it does come with the perk of serving your country. Other government service avenues could include joining the peace corps or the foreign service. The peace corps, however, requires a great time commitment, and the foreign service is often challenging to gain entry in to.

(Teaching English Abroad, Military, Peace Corps, Foreign Service)

Anything and Everything:
The sky is really the limit if you're willing to locate and negotiate a work-trade with someone in your local area or someone across the world. Even so, be cautious in your search and always tell someone where you're going before you leave home!

(A place to start: Oz Traveller)

Should You Finish Your Degree?

There are many moments as of late when I question my current degree program. Quite a while ago I wanted to leave my fancy liberal arts school and head home for a different course of study. I ended up pushing through and finishing my History degree in three years. I very well could have transfered, but I decided it was best to finish what I had started and not to throw away my years at my first school. I currently face the same conundrum when working on a second degree. Sometimes it feels futile to continue as I have other ambitions than to solely pursue accounting. What drives me forward, however, is the feeling that I again should "finish what I started" and not to "give up." If you or someone you know is in this same situation there are a couple consideration that you may encounter when weighing whether to finish a degree program or not.

Will the degree be more of a detriment than not when looking for a job?
You really would be surprised by the dirtiest secret in modern-day job hiring: overqualification. While going to school and working, I have been more than hesitant to list my highest education degree on a job application. I typically do need the minimum wage job I am applying for, but my degree isn't a primary requirement for the job either.

If I go on for a second degree will I be barred from getting financial aid?
While I decided to finish my first degree in three years, if I had been able to spread the degree out over a fourth year and start my second degree, I would have been eligible for financial aid for that extra year. I currently pay full tuition at my local state college. The tuition is a bargain, but it would feel like it is almost a free-ride with at least some financial aid. Usually when one is pursuing a second degree opposite of their first (a B.A. after a B.S.) they are eligible for federal loans. I currently do not take out loans for my tuition, so this is not much of a perk.

How will my decision affect my quality of life now and in the future?
If leaving your degree program would not leave you saddled with years and years of debt payments and little job prospects, I would consider leaving or transferring to a cheaper school immediately. Of course, if transferring would make you further behind in your program, I would recommend against moving your degree around. If you are simply unhappy where you are, I think this point is more important than you may think. For three years at college I was in an environment that stifled me and only fed my depressive tendencies. Right now I am back in my home-town with my loving parents and fiance and it makes all the difference to my quality of life. I may waffle on my educational path from time-to-time, but at least I am surrounded by supportive and loving people on a regular basis.

Best Places to Look for Jobs on the Internet

Not long ago a reader pointed out a good place to look for jobs at Big Job Board. I've decided to include a few of my favorites to get people on the right track.

Websites of Local Newspapers: The first place I would recommend looking for jobs in your area is your local newspaper and/or free weekly or pennysaver. Oftentimes these papers also have websites that usually have a classified section and/or job search engine. What I like most about these sites is that major employers usually advertise at these places for jobs, as well as local businesses, so you are getting the best cross-section of the positions available in your surrounding area.

Direct websites of major employers in your area: I have found more than a few positions for myself and others by going directly to the websites of the larger companies in my area. If nothing else, thse websites also usually give the name and contact information of a personnel or human resources director if there are no current positions available. This person can be handy as a contact to leave a resume with or as another source for insights into what the company is looking for in an employee.

Government Job Websites: If you are interested in a job with the government you can either look at your county's website, you local state jobs website or the USAJOBS federal jobs website. A check on all three would be a way to thoroughly check all the options available.

Indeed: Indeed is a website that I like to use because it has posting from nearly every dinky town you can think of and also gives the website that the listing was sourced from, so you have a few resources for jobs off of the original listings.

Think Outside the Box: Tupperware Drag

On today's New York Magazine website a man named Robert Suchan aka "Aunt Barbara" was profiled who is one of the leading Tupperware salespeople in the United States. He lives in the New York City/New Jersey area and has become very desirable as a Tupperware host(ess). This man's schtick is that he basically dresses in drag and dreams up alternative uses for the various pieces of Tupperware that he sells.

Now, this business example has a few lessons to teach.

(Photo from Tupperware's website)

Make it your own: Whatever you do, infuse your own personality into whatever you are doing. Sales, marketing, retail, whatever--everyone has a unique personality and it is your job to fit your current or prospective business to your own mold (in Barbara's case, a literal Jello mold).

Get people interested in this you-infused business: It is not always enough to do everything your way all the time. Be sensitive to your audience and be aware of what offends, delights, and excites them in relation to what you are trying to offer.

Start small: Robert Suchan started the way every other Tupperware salesperson started: with a $100 kit and a dream (or crazy, off-the-wall fantasy come to life).

Have confidence in yourself: Whenever you have self-doubt, instead of imagining everyone in their underwear, think of Robert Suchan putting himself out there in drag and going to people's homes as a salesman (saleswoman). Hopefully that thought alone will put everything in perspective at some moment in your life.

Well, there you have it; a little lesson from a drag queen selling plastic to lots of eager housewives.

[youtube]

What You Can Learn From Sam Walton

For some Sam Walton is the devil incarnate and for others he is the model for all that is possible in America. If you do not already know, Sam Walton is the founder of Wal-mart. Regardless of what you personally think of Wal-mart's ethics and business practices, there is always something to learn from success stories (and things you may despise).

(Photo source)

There is no getting around human nature: From day one with his original Walton 5-10 stores, Sam Walton's strategy was to sell lower priced items with a smaller margin resulting in higher volume sales. There are a couple of things at play here. The first is that you don't have to completely reinvent sales methods and persuasion to get people to buy things from you. The second thing is that you should be competitive with things that you know matter to your target demographic.

(Photo source)

"There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else."

Intimately know your own standard of success: The legend is, is that Sam Walton still drove his pick-up truck long after he became wealthy. The same goes for Warren Buffet who still lives in his original modest ranch home in Omaha, Nebraska and frequently flies coach. You could even argue that Sam Walton was so able to successfully perpetuate his stores because he was always reminded of the needs and wants of his more modest customers though these very things.

"Ignore the conventional wisdom. If everyone else is doing it one way, there's a good chance you can find your niche by going exactly in the opposite direction. Commit to your business. Believe in it more than anyone else. Capital isn't scarce. Vision is."

Keep your own score: By this I mean set your own goals and try to meet them. Visualize these goals, write them down, or tell them to someone else to make them real to you and to make yourself accountable. From Sam Walton I take it that he rarely blamed other people for things they were responsible. The buck stopped with him and he encouraged his workers through this very method.

"Money and ownership alone aren't enough. Set high goals, encourage competition, and then keep score. Nothing else can quite subsititute for a few well-chosen, well-timed, sincere words of praise. They're absolutely free--and worth a fortune. We're all working together; that's the secret."

High School Entrepreneur, College Sloth

The New York Times often has articles that are more enlightening side-by-side than taken alone. In the piece "Building Their Own Job Engine," Teens who are competing with thirty-year- olds and college-age students for summer jobs are described as turning to entrepreneurial ventures to make their own money. On the flip side is the article from today "Say Hello to Underachieving." This article describes college-age students who are home for the summer in lieu of traveling to exotic locales or working at an unpaid internship. Most of these older (and presumably wiser) students can also not find jobs, very much like their teenage counterparts. The difference is obviously the approach between these two age groups, in addition to their attitudes.

College is obviously a rite of passage into adulthood, but there are clear opportunity costs to spending four years of one's life out of the work force. I am not going to go into the breakdown of earning a plumber's license over a BA in liberal studies over a medical degree, but the idea of opportunity costs exists at every turn of our lives. There is also an indoctrinating force that happens. This speculation is fuzzy, but I am tentative to describe it as "liberal/socialist" etc. indoctrination. Maybe a more precise description has to do with book-learnin', getting good or bad marks for one's efforts, and only viewing life through the one-size fits-all version of the college education model.

Why can the college students view life through a lens of consumption and not production like the entrepreneurial teens? Do you find that the difference between these two age groups holds water, or is it merely an apples to oranges comparison between two New York Times profile pieces?

Do you need to go to college? An example:

A year or so I decided to take an introductory computer science course. In that particular class was a friend who had an ability with computers that far surpassed the scope of what the course covered. I ended up having to go back to a more introductory class and my friend ending up earning a "D." My friend's poor grade was due to medical reasons and his refusal to follow the instructor's directions to the letter--typical of what most college courses require for a good grade.


As of a few days ago I learned this friend, who has had substantial professional experience in working with computers, has found a job out East without a college degree. It is very interesting how the field of computers have allowed people without formal training to exercise their talents without a sheepskin. In some corporate areas I know this is not the case. In order to get your foot in the door at these places you usually need to meet some arbitrary criteria, but there are still many opportunities for the unschooled computer whiz.

In the future I envision a wider apprentice system than what currently exists in America. College is, by the day, becoming less and less affordable while providing graduates with almost an increased inability to get and hold a job. While I am currently learning accounting in a college setting, accounting was originally (in Italy) taught under an apprentice system. Could this be the future for such professions as computer work and nursing, or will the standards of these professions continue to perpetuate college as the de facto standard for all? What do you think?

Why a Humanities Degree is Useful.

This is sort of my dream job interview situation. There is a current trend in viewing the act of majoring in humanities as conspicuous consumption. The thought is that it uses an incredible amount of resources and doesn't have any apparent utility.

Historically, this was very much the case. Who majored in humanities during the Renaissance? Nobles. Aristocrats. The wealthy. People who symbolized conspicuous consumption for the rest of the people.

I have a Master's degree in English and this makes me all but unhirable. But why?

It is my contention that someone with this level of education in something like English or Philosophy has something legitimate to back them up:

Intelligence: A humanities degree is straight up, proof of smarts. I can't imagine an employer who was not interested in this quality.

Critical thinking: It shows an ability to reason and examine a situation from several angles and to take a situation apart. In just about any job, from McDonalds fry cook to CEO, this ability is probably the most important skill that any potential employee should possess. I can't imagine that the ability to analyze the use of metaphor in a Dickens novel is that much different from the ability to reason in any other sphere. If anything, it's far more difficult.

Communication skills: The ability to communicate a coherent thought is utterly crucial in just about any job situation. An advanced humanities degree shows that a person is able to do this. A Masters degree ought to show that they can at least write and defend a substantial body of work.

While this post is primarily a gripe about the way the job market undervalues the humanities, I think it is vital that anyone out there who has earned one of these very expensive pieces of paper and who is interested in crawling across this nasty job market follow one important bit of advice: listen to your degree.

If you honestly think there's nothing useful to be gained from a humanities degree, then whatever, but there are valuable skills that you have picked up and you ought to be able to use them to sell yourself to employers and friends. When someone asks you, "What are you going to do with an English degree," you know what you say? "Whatever I want."

When an employer asks you what your qualifications are, and you find it hard to articulate them into concrete skills, remember that the ability to read James Joyce is a qualification. It means you're a quick study and will excel in just about any work environment.

Your task is tricky, but if you're quick enough and charismatic enough, you can sell your degree to any employer that's smart enough to see the value of such an education.

And if everything else fails, realize that the skills you've developed are intrinsically valuable and can be put to use in other ways: start your own business. It's hard work, but being your own boss is probably one of the most satisfying career choices a human can make.

Good luck.

The Ultimate Lawyer Grad, No Job

In the article "Finding Debt a Bigger Hurdle Than the Bar Exam," Robert Bowman is profiled. His story is that he is $400,000 in debt from college, law school, and a master's LLM program and 5 appellate judges have barred him from practicing law due to his debt. The backstory is that Bowman passed the bar exam on his fourth try, and he has failed to pay a penny on his student loans over 26 years because of medical and other hardships.

Now, young lawyers have it hard enough these days with hard to get entry-level jobs and debts totalling $100,000+, but to be barred from practicing law altogether is a unique situation. Yes, Bowman can be to blame for earning a perhaps unnecessary LLM in England of all places, but he also deserves a chance to make good on his loan after years and years of training. Perhaps this story is really about the absurdity of debt after a point of no return. Bowman is also older than average student (47), and will probably never be able to pay back all of his debt. As most of you know, student debt is not able to be discharged in bankruptcy proceedings and if this debt related to a delinquent mortgage or credit card debt, Bowman would be able to walk away from the extremely high balance on his loan.

When examining an amortization schedule on a $400,000 loan at a conservative 5.5%, Bowman will have to pay a minimum of $2271.16 a month. Ok, if you can somehow management to pull in $50,000 a year after taxes, live very frugally and not save any money--yeah you may be ok (if you don't live in NYC). Even so, Bowman's last payment will be when he is 77 and in the end he will have spent $817,613.93 on the principal and interest. Eek!

Employed Art History Majors

When I write these posts describing the majors attached to famous (i.e. employed) people, what I am trying to emphasize is that your life is not attached to your major if you are willing to take risks and are willing to keep learning. Today I have chosen to profile Meghan McCain and Twyla Tharp.

Meghan McCain is the famous daughter of senator and presidential candidate John McCain. She graduated from Columbia University with her BA degree and is currently a blogger on The Daily Beast in addition to being a television commentator. Recently she has signed a book deal to further her cause of bringing younger people into the Republican party. What is obvious in this case is that Meghan has parlayed her experience on the campaign trail into being a full-blown political analyst. Remember, this is despite not having any grounding in the disciplines of political science or economics. The key to her success is her viewpoint as a well-connected young conservative with marginal socially moderate views. What can you parlay?

Twyla Tharp is a famous modern dancer who studied with Martha Graham and Merce Cunningham (Oh yes, in addition to earning an art history degree at Barnard College). Her accomplishments that I am most familiar with include her involvement with the play Movin' Out and her wonderful book The Creative Habit: Learn It and Use It for Life. This book is truly an inspiration for all people with creative inclinations, if I do say so myself.

In closing, what is the value of an art history degree? I have no idea, but it is hard to say the true impact of any self-improving endeavor on anyone's life. I'm guessing that both of these individuals have to worry about loan repayments and the like, so the choice is ultimately yours to make.

Employed Political Science Majors

When my mother was in college she wanted to study political science. Her father, a professor, advised her against it because he couldn't recall any famous political science scholars off the top of his head. There are two famous individuals with political science majors that we would like to profile today, Jon Favreau and Al Franken.

What she be taken into account when looking at the backgrounds of these individuals is that they were both at the top of their classes at distinguishes universities (College of the Holy Cross and Harvard, respectively), and they both were involved with more than a few extracurricular activities. If you do not already know who Jon Favreau is, he is the 27 year old speech writer for President Obama. Al Franken, as of yesterday, is the senator elect from Minnesota who is also an author and former Saturday Night Live comedian.

Anyways, what I am really getting at is that both of these people are gainfully employed, albeit in positions that only a few people in the country may fill. Regardless, both of them obviously have nurtured their talents and remained true themselves. One has a gift for words and political rhetoric, and the other a talent for humor and political satire (and getting elected).

Room for Debate Part II

Yesterday in the New York Times there was a "Room for Debate" column on the value of a master's degree. It is a related and pertinent topic to the subject of second degrees, but every situation is different, and every person has a different life path. Here are some excerpts from the comments section:

"Anyone starting school now is in denial. In five years there will be few jobs left for anyone. Your prospects will be determined not by your education level but your credit rating, since employers will value the perception of trust and solvency over competence and intelligence; all jobs requiring education will have been outsourced to India and China. American universities will crumble. There will be a lot of overeducated homeless people. " -Kalaresh

"My undergrad major was English lit. Some time around my junior year in undergrad school, I had decided that I was going to study what interested me, and just take the consequences as far as employment outcomes were concerned. I had worked multiple jobs at a time, never cared much about trappings of middle-class affluence,knew I could take care of myself, and didn’t have a chip on my shoulder about working for a living. I figured I’d be ok.
That was the most liberating decision I ever made. I had a very fulfilling career at a series technology research and development companies. I retired at age 58, a senior vice president at an S&P 500 company."
-Geronimo

"What the commenters did not discuss was that the old reliables that were expected to pay for themselves - particularly the JD and MBA degrees - have devalued as well. Although “collapse” may be too strong a word, the job markets in those fields are by no means what they were." -ACW

"Going into degree for careers will now average 5 yrs, is like gambling in a casino–You can lose it all…Since Fordism (lifetime job, stable incomes) is dead, it is a better investment to launch several businesses."
-Jax

My two cents on the subject is that studies in the humanities, especially at the graduate level, has always been a risk to pursue. In the late 1800s my great-great-grandfather in Germany earned a Ph.D. in history that his parents discouraged (sound familiar?). He had difficulty securing a job in a university, but later went on to run a school for children. While his circumstances as a Jewish man in Europe may have been different than the average graduate student in the United States circa 2009, the fundamentals remain the same: the humanities are in opposition to the marketplace, and this has always been so, and will always be.

Worst Case Scenario Grad, No Job

The Wall Street Journal recently had an article that interviewed Joshua Piven (Worst Case Scenario Handbook) on the worst scenario of losing one's job and short path to destitution. His perspectice wasn't necessarily that insightful: ""Then there's homelessness, maybe spiraling alcoholism, and then living on the side of the train tracks," but the article does go on to describe what one can to do protect oneself from that fate. Some of their suggestions are conventional wisdom (pad the emergency fund, downsizing, getting credit lines while employed), but there are a few non-conventional measures we would also like to suggest.

Move:
If you're really that close to hitting rock bottom, we would suggest moving back to a parent's house sooner than later. If moving will allow you to more easily get rid of your car or other large expense, by all means do so.

Find a second source of income:
This suggestion is easier said than done, and there are many things to consider when taking on a second job, but this option could be worth it in the long run. Try working a minimum wage job one or two days or nights a week (at least for your emergency fund). An ebay business could also be a quick option (If you put in the time to research what this would entail etc. ).

Start stockpiling:
Food that's on sale is a good place to start, as well as household goods and supplies. This measure also takes a fair amount of planning, but can provide some psychological relief in the event of a job loss [link].

Get very serious about budgeting:
Find ways to satisfy your moments of monetary weakness and reign in discretionary spending. Assign your money to your expenses and savings before you receive your paycheck. Moving money out of your checking account is a simple step twoards spending less and saving more. Check out the book America's Cheapest Family on more tips for super saving [link].