At the beginning of February, around the time of the General Election, BBC4 showed the first series of This Life, the 90s drama about co-habiting lawyers. February – a distant time when we regularly left the house to go to work, ate in restaurants and meet friends in the pub – now seems almost as long ago as 1995, when This Life first aired. It’s aged well. The clothes and hairstyles don’t seem particularly ridiculous because the 90s are fashionable again. And it’s still good. The characters and storylines still feel real and dramatic. The first time I watched this show I was about 10 years younger than the characters, I’m now more than 10 years older than them. That’s always the weird thing about fictional characters – how they stay frozen in time while you age beyond them, having experiences that inform how you interpret their actions and attitudes. Some of the attitudes in This Life do feel dated. Attitudes towards women and gay people, particularly. I suppose that’s to be expected; it was 25 years ago. The characters’ attitude towards therapy also really felt odd and old-fashioned to me.
I have a job interview this morning. This means I have to leave the house. I haven’t been doing that much lately, due to unemployment and general anti-social tendencies. As soon as I get off the Luas, I scrub my hands with hand-sanitiser. When I shake hands with the people interviewing me, I reassure them that my hands are germ free.
At the end of 2018, Theatre Forum carried out a survey on pay and working conditions in the performing arts. The results of the survey were accompanied by testimonials from artists who spoke candidly about their financial struggles. These were well-known theatre and dance artists, artists who make a new show every year, who have won awards for their work and toured internationally. They are so obviously successful in their chosen careers that it’s natural to assume that they would also be making a good living but despite appearances, their livelihoods still felt precarious. The results of the survey proved that this was more than just a feeling. According to the 144 artists and creative practitioners and 97 arts organisations who responded, average weekly earnings in the arts in 2018 were 30% lower that the average across all sectors (€494.98 compared to €740.32). As well as low wages, the precarious nature of the work means a lack of financial stability, as well as difficulty keeping up with PRSI contributions. There’s also the fact that most arts organisations do not make employer pension contributions or provide a top up to state maternity benefit.
In May I saw Tana French being interviewed by Anna Carey in Smock Alley. The event was part of the International Festival of Literature. I am a huge admirer of her writing but I’d never heard her speak about it before so I was really looking forward to the event. She didn’t disappoint.
Based on nothing more than a hunch, I think there’s another recession coming. A hunch, and the fact that stock markets are plummeting, the US is becoming increasingly unstable and if the UK succeed in crashing out of the EU, they are going to take us down with them. At home, the soaring rents and house prices aren’t sustainable – can’t be sustainable – and in the boom and bust cycle which we seem cursed to repeat, that means a recession is on it’s way.
After seeing this terrifying headline early this month, I started thinking about what I could do to prepare for this inevitable recession. I always feel better when I have a plan.
My plan does make some big assumptions. It buys into the narrative that there’s more money sloshing around right now than there was 5-10 years ago. I know this isn’t true for everyone. There are over 10,000 homeless people in Ireland. There are children growing up in hotel rooms. Over 15% of the population is living under the poverty line and the income gap is growing all the time. People are working good jobs and still broke because their salary is being eaten up by rent.
This silly listicle will not be relevant to a lot of people and I’m sorry about that. A better way to prepare for a recession would be for the government to take the Apple tax (and the Google tax, and the Facebook tax) and invest it in social housing and other public services. I can’t make that happen so here are some things to do instead.
1. Get out of debt.
Obvious one first. Pay off your loans, clear your credit card, get out of your overdraft. If you find yourself penniless and out of work, you don’t want to owe the bank anything. You’ll miss repayments and the interest will just keep clocking up. Clearing debt is a very boring use of money but if you are lucky enough to have a bit of extra cash now, invest it in becoming debt-free as soon as possible.
This also means that if you have a future financial emergency, those lines of credit will be available to you and might help you ride out the recession.
Another boring, practical piece of advice – start saving. Preferably with a credit union because it’s easier to borrow from them. Set up a savings account and a weekly (or monthly) direct debit into it. Even if it’s only for a small amount, some savings are better than none and being a regular saver looks good when you go looking for a loan. I also like the credit union because it’s hard to get at the money. There’s no cards or electronic transfers, you have to physically go into the building. That helps my savings grow!
3. Learn to cook
The cheapest way to eat well is to cook for yourself. It doesn’t have to be fancy just learn how to make the thing you like. The BBC Good Food website has lots of easy recipes with clear instructions. (Personally I really like this two-step recipe for chicken, sweet potato and coconut curry.) Cooking well isn’t hard but it takes a bit of practice. Better to make your mistakes when you can afford to, so if the meal is completely inedible there’s a pizza in the freezer you can have instead.
Inviting friends over for dinner is also a good way to enhance your social life during a recession when nobody can afford to go out. Finally, as well as being able to feed yourself and others, being able to spend time preparing good grub is a great when you have too much time on your hands, because of unemployment or under-employment.
4. Invest in clothes that last, especially shoes/boots/coats.
If you can afford it, spend money on good quality shoes and coats that will see you through a few winters. This is good advice from a budgetary and environmental point of view but also because you find yourself walking more in a recession and it’s good to have things that keep you warm and dry.
5. Join the library! All those books!
Libraries are great. Not only are they full of books that you can take away for free, they are also warm places you can go and use the internet without spending any money. You’ll also be grateful for their weird collection of DVDs when you have to cancel your Netflix subscription and can’t afford to go to the cinema. You could argue that you don’t need to join a library now, but having lots of members help libraries stay open and (I imagine) help them argue for budget increases, so by joining today you can help make sure they’re still there when you need them. Also did I mention the free books?
6. Vote for anti-capitalists.
I don’t know if the general election is going to happen before or after the recession hits but when it does, you should vote with the recession in mind. We need a government who doesn’t always take the side of the property developers or the landlords or the banks. We need more tenants and less landlords in the Dáil. We need more socialists who will increase investment in public services. We need people who will put an end to the boom and bust cycles.
Leo Varankar described himself as “the CEO of the organisation” on the Late Late Show recently. CEOs tend to be selfish, power-mad psychopaths and we shouldn’t let them be in charge anymore. We need a leader who is less like a CEO and more like a caretaker. Someone who looks after the country and has it’s best interests at heart, someone who identifies where cuts can be made and also where we need to invest. Someone who understands that they don’t own the country, they’re just looking after the place for bit. Please vote for someone like that, when the time comes!
7. Look on the bright side…
…a recession might be the only thing that will bring down our carbon emissions. The last recession really helped with that but they started climbing again as soon as the economy started to recover. Yes, this is clutching at straws and it is a fairly bleak bright side but we were identified as the worst offender in the EU for carbon emission last week, which is another super bleak and depressing headline, so I’ll take any bright side I can find. We need a few more politicians who give a shit about global warming in the next Dáil as well.