Recession means a little bit of money-guilt, because I'm doing better financially than I ever have in my life. My sister, meanwhile (who for the longest time was better off than me), is having a harder time of it due to the economy and the nature of her household's income.
I also agree with Emily that it bugs a little how the media plays on people's fears, even though many people (maybe even the majority?) are not directly affected through job loss or reduced income.
Being in a recession is when you are can't purchase a new keyboard due to a faulty "c" key (no offence 3 Year Challenge) and a million people reply to a post about what a recession is for a chance to win a $10 dollar prize.
We started this recession with one income down for the count, but luckily it came with an acceptable severance package.
Our total household income between the two of us is now about 15% higher than before; we've paid off almost all of our debt, and we bought a house. All of this would have been unthinkable before this recession.
How did this happen? We went through our own personal recession, and we learned how to live. When the real recession hit, we were well equipped to survive and thrive. We already had the skills that many other people had to suddenly acquire. We can see the opportunities, and we shared and exchanged tips with our friends and family, who are also (mostly) weathering the storm nicely.
To me, it means mind games and lost confidence. I remember from my econ classes how so much is based on people's perception of the markets and economy. Once people hear the word "recession," things just get worse. Even people who have saved and aren't particularly affected by recent events start to become paranoid. A recession calls for carefully considered decisions, a good understanding of the facts, and a well-informed public and media.
To me, a recession means worrying about whether everyone in your extended family will be able to take care of themselves and their families, since jobs keep disappearing.
for me, this recession has meant seeing a lot more homes in my area up for sale and empty buildings where businesses that were really useful to the neighborhood used to be. now they stand empty, no one is paying rent on them to the building's owners, and the neighborhood/ community is suffering.
as a grad student for the past 8 years, i've had a lot of experience living on very low wages, so that's not as much of an issue. but it means my school can no longer support me in finishing up my phd wok, so i need to take out more student loans for the next academic year. that really sucks, as the employment prospects for after graduation aren't looking so good.
Despite what TV commercials advertise, the recession isn't all staying home to play Jenga or painting your own toenails.
To me, a recession is when there is a definite spirit of worry in the air about money that has a real affect on individual's spending habits that show up in the big, overall economy. In other words, worry about money goes up, spending money goes down.
means it is time for everyone to re-evaluate their spending habits and investment strategies and re-think what is really important to them in life. a recession is also a time to find creative, fun, and cheap ways to spend time with those closest to you in addition to finding ways to make less of an impact on the environment.
The recession means I am now at a lower paying job, and cannot afford an air conditioner this summer. It also means that we are scrimping heavily to be able to afford a furnace by winter time.
Being in a recession means that everyone is pressured to act the way we should have been acting all along -- saving more, not wasting money, not going on fancy vacations, etc.
To me the recession makes me uncomfortable which in turn inspires me to make the changes in my life that I've always been meaning to do but were just too darn comfortable in my life to do.
I once spoke to a SBA counselor who said that most businesses are started in a recession. That's because when people are comfortable they are less likely to do anything but when their back is against the wall, they'll go out and make things happen. To me, that's what the recession is all about. Forcing people to make things happen.
Sarah! Thank you so much for writing this. I feel that people spend way tooo much money on their weddings. If you aren't financially creative enough to have a great wedding on a budget, then wait until you try to have a great family on a budget.
"If you do it right, you may find yourself in my situation: Someone will ask you what you give up to live so cheaply, and nothing will come to mind." I love that line. It's so true. I feel like I have it all.
My daughter recently asked for a gift card to a second hand store for her b'day. It's a really large thrift store, but still a thrift store. I knew at that moment that she was "choosing" our lifestyle too.
As far as my chosen luxury, it's preformed hamburger patties. :-)
Just this past weekend I lost my wallet, right outside of my house. After 2 hours of scouring my place the next morning, I had resorted to the fact it was gone and canceled my credit cards.
As I was walking out the door a few hours later, there was a police officer standing there. He looked at me for a moment and then said "you look familiar". And handed me my wallet! Apparently someone had turned it in, and he drove all the way to my house to see if he could find me. Talk about service!
Recession means a little bit of money-guilt, because I'm doing better financially than I ever have in my life. My sister, meanwhile (who for the longest time was better off than me), is having a harder time of it due to the economy and the nature of her household's income.
I also agree with Emily that it bugs a little how the media plays on people's fears, even though many people (maybe even the majority?) are not directly affected through job loss or reduced income.
Being in a recession is when you are can't purchase a new keyboard due to a faulty "c" key (no offence 3 Year Challenge) and a million people reply to a post about what a recession is for a chance to win a $10 dollar prize.
We started this recession with one income down for the count, but luckily it came with an acceptable severance package.
Our total household income between the two of us is now about 15% higher than before; we've paid off almost all of our debt, and we bought a house. All of this would have been unthinkable before this recession.
How did this happen? We went through our own personal recession, and we learned how to live. When the real recession hit, we were well equipped to survive and thrive. We already had the skills that many other people had to suddenly acquire. We can see the opportunities, and we shared and exchanged tips with our friends and family, who are also (mostly) weathering the storm nicely.
In the long and glorious tradition of Franklin Roosevelt.
Well, I was laid off, and many, many of my friends have been too, or had their hours/salaries reduced. Sounds like a recession to me.
To me, it means mind games and lost confidence. I remember from my econ classes how so much is based on people's perception of the markets and economy. Once people hear the word "recession," things just get worse. Even people who have saved and aren't particularly affected by recent events start to become paranoid. A recession calls for carefully considered decisions, a good understanding of the facts, and a well-informed public and media.
Sorry, that should be "I agree".
A agree that a recession means financial worry: more worry for some than others, but sprinkled liberally throughout the country.
To me, a recession means worrying about whether everyone in your extended family will be able to take care of themselves and their families, since jobs keep disappearing.
for me, this recession has meant seeing a lot more homes in my area up for sale and empty buildings where businesses that were really useful to the neighborhood used to be. now they stand empty, no one is paying rent on them to the building's owners, and the neighborhood/ community is suffering.
as a grad student for the past 8 years, i've had a lot of experience living on very low wages, so that's not as much of an issue. but it means my school can no longer support me in finishing up my phd wok, so i need to take out more student loans for the next academic year. that really sucks, as the employment prospects for after graduation aren't looking so good.
Means I have to try to win $10 from websites by posting comments.
I automatically think of the textbook definition of a recession: when unemployment rises and GDP falls for at least two consecutive quarters.
In practice, it means that this summer I am taking summer classes instead of working full time.
Despite what TV commercials advertise, the recession isn't all staying home to play Jenga or painting your own toenails.
To me, a recession is when there is a definite spirit of worry in the air about money that has a real affect on individual's spending habits that show up in the big, overall economy. In other words, worry about money goes up, spending money goes down.
That we have to more creative in our summer plans!
We have come up with a list of 100 fun, frugal things to do this summer! When we finish an activity, we mark it with a sparkly star sticker!
I didn't want our girls to feel their summer was not exciting because they won't be traveling to Disney World or spending weekends at the shore!
We are having a blast filling our days with inexpensive crafts, recipes and games!
means it is time for everyone to re-evaluate their spending habits and investment strategies and re-think what is really important to them in life. a recession is also a time to find creative, fun, and cheap ways to spend time with those closest to you in addition to finding ways to make less of an impact on the environment.
The recession means I am now at a lower paying job, and cannot afford an air conditioner this summer. It also means that we are scrimping heavily to be able to afford a furnace by winter time.
Being in a recession means that everyone is pressured to act the way we should have been acting all along -- saving more, not wasting money, not going on fancy vacations, etc.
The "c" button on my keyboard doesn't work well. Just reposting to correct the spelling mistakes.
We asked a 3rd grade child to define a list of financial words and recession was one of them:
"A recession is when a lot of grownups go out to recess, but they don't want to."
Our own answer is "What recession?" Behind every breakdown is a blessing!
To me the recession makes me uncomfortable which in turn inspires me to make the changes in my life that I've always been meaning to do but were just too darn comfortable in my life to do.
I once spoke to a SBA counselor who said that most businesses are started in a recession. That's because when people are comfortable they are less likely to do anything but when their back is against the wall, they'll go out and make things happen. To me, that's what the recession is all about. Forcing people to make things happen.
We asked a 3rd grade child to define a list of financial words and recession was one of them:
"A recession is when a lot of grownups go out to recess, but they don't want to."
Our own answer is "What recession?" Behind every breakdown is a blessing!
Sarah! Thank you so much for writing this. I feel that people spend way tooo much money on their weddings. If you aren't financially creative enough to have a great wedding on a budget, then wait until you try to have a great family on a budget.
So you don't carry your driver's license in your wallet? That has the address on it.
"If you do it right, you may find yourself in my situation: Someone will ask you what you give up to live so cheaply, and nothing will come to mind." I love that line. It's so true. I feel like I have it all.
My daughter recently asked for a gift card to a second hand store for her b'day. It's a really large thrift store, but still a thrift store. I knew at that moment that she was "choosing" our lifestyle too.
As far as my chosen luxury, it's preformed hamburger patties. :-)
Thanks for the great exercise! It is a great way to get the juices flowing and I plan to use it in the future if I'm feeling stuck :-)
~Shannon
Just this past weekend I lost my wallet, right outside of my house. After 2 hours of scouring my place the next morning, I had resorted to the fact it was gone and canceled my credit cards.
As I was walking out the door a few hours later, there was a police officer standing there. He looked at me for a moment and then said "you look familiar". And handed me my wallet! Apparently someone had turned it in, and he drove all the way to my house to see if he could find me. Talk about service!