The Bright Side of the Economic Recession

News of the economic recession is unavoidable. Job losses, home foreclosures, increasing debt for individuals as well as businesses. But there are a lot of positive things I’ve seen developing from the downturn in the economy.

Maybe it’s the holiday season, but people seem to be more empathetic. Everyone in some way is touched by the economic recession, which makes us all more human and connected in some way. When we are able to directly relate to what other people are going through, we feel safe exposing our vulnerable side. It allows each person to relate to their neighbor, their community and their family. Topics, such as money, that were once taboo are now discussed out in the open.

While the economy may have gone back 10 years in time financially, it’s as if our lives and habits have gone back 30 years. We are revisiting our parents’ and grandparents’ generations in regards to past-times and entertainment. Think what it was like before the age of video games.When siblings shared bedrooms in a “starter home” that fit the family budget. And when Americans valued their time with their family, and overall were more conservative with their money–appreciating what they could afford and respecting what they could not.

We have operated for a long time with the idea that investing in the stock market and in real estate carried very little risk. We thought of how much money we could make and not how much money we could lose. We now know that it was fools’ gold, and a great lesson on how investments and risk actually works. It may be a tough lesson to learn, but it is a very valuable and necessary one.

As a result of the recessed economy and portfolios, people are learning what it really means to diversify and why it is important to keep your assets properly balanced. When the stock market is losing money, it forces you to explore and familiarize yourself with other places to put your money based upon your risk tolerance. In other words, we’re becoming more financially educated.

One of the best outcomes from these troubled times is that families are coming closer together. Families are actually eating dinner together as they are no longer eating out to save money. As a result, parents are getting to know their children better and finding time to talk to them about the things going on in their daily lives.

I find it interesting that movie theaters get busier the worse the economy gets. Now that people are budgeting their money, families fall back on the entertainment they remember from their youth, which leads to more quality time spent together. People are not just throwing away money like they used to. For the first time in a long time, Americans are taking a good hard look at their income, their expenses, and preparing for “what if” scenarios.

All of this, are things we should have been doing all along, but now we are doing it out of necessity. That’s a good thing. We are modeling good behavior for our children and teaching them the value of a dollar — something that our youth for the most part had no previous concept of.

For those who have money to spend, there are some great opportunities all around. From rock bottom prices on laptops and TVs to unbelievably priced shares in the stock market. Your dollar can go a long way during an economic recession.

All in all, we may be facing some tough, stressful times, but we are becoming more human again and that as they say is priceless.



Dennis Zabawa is an Leading Authority in Business Funding. Dennis is available to come and be a speaker at your next event. He has a great topic, "Why are you not wealthy?" For further information, please visit the website, www.creditiswealth.com