Recession
It truly doesn’t have to be doom and gloom. This recession isn’t all bad. Even with one lost job in my household, we’re living a better quality of life than we have in a long time. I think it comes down to perspective.
I’ll share a few of my very favorite parts about the recession here, though I’m sure there’s many more things to love. Please jump in the conversation and share your favorite parts of the recession.
1. Cheap Gas
Last year we were paying well over $3.00 a gallon for our regular unleaded. Now we’re sticking close to the $2/gal prices and they’ve been far more stable than the previous few years. This makes it easy to budget, and means we can take a trip out to the beach or something without guilt.
2. Low Interest Rates
Since we have debt and no real cash in the bank, the low interest rates are working in our favor. If you’re on the flip side of this equation… why are you here exactly?
3. Family Time
As I mentioned before, we have had one layoff in the family, and our family has never felt so close. We cook and eat together and play at the park together and I’ve gone to full-time freelancing, which I can flex around my kids’ needs. Which brings me to my #4 reason to love the recession.
4. Re-Prioritizing
We somehow lost track of why we were working, and instead of working to live, we were living to work. Which sucked. Plain and simple. Now we vet all decisions around if they work for our family or not. What a stress relief that is. Before we were squeezing our family around everything our work wanted us to do. (When and how did we loose focus?)
5. Going Back to the Basics
We’re cooking from scratch in lieu of buying expensive pre-prepared foods. We’re camping, picnicking and playing at the park instead of going to the movies and eating a bucket of greasy popcorn. Wouldn’t you know, we’re all healthier? Everyone in our family is loosing weight, feeling stronger, exercising more, and sleeping better. Interesting.
6. Cheap Real Estate
First time home buyers are able to jump in and get a house that they otherwise would have had to wait years for. We’re also considering a larger place–that we couldn’t have afforded otherwise.
7. Total Money Makeovers
Dave Ramsey’s Total Money Makeover (TMMO) plan is catching like wildfire. People want less risk, fewer debts, and to live life for themselves, not their creditors. I’m doing my TMMO too, and I’m loving it.
8. The Joneses were forclosed on, so there’s no need to keep up.
Nobody’s laughing at my paid-for car anymore. Nobody is teasing me about my frugality (in fact, it’s becoming fashionable…). I don’t feel any pressure at all to keep up with the neighbors. I don’t want their bills. That is freedom!
9. People Taking Time to Help Each Other
I’m seeing some wonderful helping. My neighbors are helping me, and I’m helping them. I’m participating in Freecycle and watching for people’s needs, and sharing what I have. Kids’ outgrown shoes, laundry detergent, whatever the need.
10. The “Freelance Economy”
I’m loving this. I love that each of my freelance projects has a specific spot in my budget. My work is fit around my kids, not vice versa. I have many “freelancer friends” who I can brainstorm with, share childcare, or commiserate with.
All in all, I’m glad to see the signs of recovery. My portfolio has taken a hit, and that’s depressing. Our property value is 25% less than it was two years ago, but our family has never been stronger. The trick will be to preserve this lifestyle through recovery, and not loose track of priorities ever again. That will be a real recovery.
{ 4 comments… read them below or add one }
I love this list!
I think most people see the recession as a negative time that we just need to get through on the way to prosperity. But as you aptly point out, prosperity isn’t all it’s made out to be.
There are so many other important things in life besides trying to get the latest and greatest and make the most money possible.
Great list. I am glad you listed gas as number one. However, I think that people should also realize what this means and start planning for higher priced gasoline. When the economy picks up, once again demand for gas will increase causing the price of gas to go up again.
Too often people talk about conspiracy theories when talking about gas. Certainly OPEC has the power to manipulate supply, but the current price reduction is due to a decrease in demand.
Therefore, it is important that we start saving and budgeting now for higher gas prices.
Thanks for your positive comments all! I personally am more apprehensive of the recovery than I am the recession. Strange thing. I’m enjoying the recession.
While I like the list…most people forget to see the up side when all the media talks about is the negative…
Although both of us have to work (thankful for the jobs) to pay major medical expenses currently on credit cards to avoid some other more unpleasant prospects we always cooked from scratch, grew our own food as much as is possible (yum fresh peas, okra, corn, tomatoes, squash, dill, basil,…) didn’t eat out, shopped at thrift stores, combined trips to conserve gas, don’t spend on extras and such we are really struggling now. Our emergency fund no longer exists and we do not have the money to set aside each month for taxes and insurance which we always did before. God has still provided and we have paid for those as they come due.
I am so thrilled for those who have found new life and new focus out of what looked to be a negative situation. The part that amazes me is this…I don’t understand living any other way. Being frugal and not wasting what we are given is just common sense and good stewardship.
I am thrilled for your success and the revitalization of your family. Great! Very reassuring.