How Will This Recession Change You?

The recession we are currently in may or may not become a more serious event, called a depression. In fact, it may already be a depression, which is something that may not be officially called until months from now for all we know. The unemployment numbers have jumped over eight percent, which is the highest it’s been in over a quarter century, and we are seeing a greater contraction amongst the credit markets, which we are being promised will start to open up again per the Obama economic plan and policies. As to whether this will work, one has yet to see…..no one knows what will work with absolute certainty, and that is why there is such an over abundance of fear right now.

But are you taking it in stride? Are you calmly observing this unfold, or are you one of the many who feel the cold grip of fear come over you every time you consider your job security, your mortgage, your financial comfort and security, and all those little things in your life that provide material comfort that you just seem to take for granted sometimes?

Many people have shared their stories about how this current economic condition has changed them. It may not have dramatically changed some people’s spending habits or their optimism about America’s future and the future of the economy and their jobs, but others are undoubtedly shaken, almost to the point of no return, ready to go into full on battle mode, and start buying canned goods and rifles to protect their property when everything “goes to hell”.

You get anywhere in between when you ask various people. I can tell you how I’m taking it. I’m cutting back on pleasure spending. This means my once a week shopping trips to Target and the like have been cut out. It didn’t mean I would spend money once a week there, but it certainly left me open to that possibility. Well, not any more, I’ve begun to cut random, pleasure shopping trips to a minimum because I know that I won’t spend money if I’m not out and about.

We’ve begun renting a lot more movies through Netflix, so that we can stay home and entertain ourselves there, rather than do things like go out to dinner or any other form of entertainment that costs money. We’ve cut out things that aren’t necessities or even extreme nice to haves, like our Distillata water, and instead installed a forty dollar water filter in our refrigerator that lasts 400 gallons, a lot better than what we were paying for the delicious Distillata water.

It’s all these little things that we feel have made a bit of difference in our lives, and that will help us pay off high interest debt rather than spend new money on things that are not necessary, and that’s how we’re coping with this recession.