I discovered a great new blog, TwentySet, this week.   It’s about personal and professional growth for Millennials, and is written by Monica O’Brien, who has been blogging since the ancient year of 1998.  I especially liked Monica’s post about how twenty-somethings can “recession proof” their lives.  I love that the Millennials are actually thinking about their financial well being, because it wasn’t long ago that I was hearing scary statistics about how this generation is already deeply in debt and, thanks to the Baby Boomers draining social security, will be completely out of luck when it comes to retirement benefits.  Here are some of Monica’s top tips, in my humble opinion:

1.        Pay Off Bad Debts: The last thing you need during an economic recession is bad debt in the form of high-interest credit cards.  Take the time now to stop accumulating bad debt and possibly pay off a little extra each month by forgoing entertainment activities, such as movies with friends, dinners at restaurants, or drinks at the local bar.

2.        Invest In Your Career:  It looks like many of us will probably be getting an extra $600 back with our tax return this year thanks to the White House. Whether that return will come in time to halt an economic recession remains to be seen, but either way it’s important we take the money and spend it to stimulate the economy.  Take the $600 dollars and spend it on your career or personal development - that way, you are benefiting the US economy and bettering your job situation.

3.        Build Long Term Wealth: This is the best time to invest your money in your 401K plan because stock prices will be low, you’ll get more for your money, and you have about 30-40 years of investing time.  You could make huge returns, as long as you choose stable stocks from commodity companies who have been in business for a long time.

There’s a lot of hand wringing going on with all of this recession talk, and it’s great to see smart twenty-somethings like Monica out there providing actionable advice you can apply today.