I snapped this photo a couple of months ago… I call it ‘sign of the times’. I love hearing on the radio when someone announces that the recession is over or almost over. I still have many friends without jobs and also many that are underemployed. What is the definition of ‘recession’?
re·ces·sion 1 [ri-sesh-uhn]
Economics – a period of an economic contraction, sometimes limited in scope or duration. Compare depression.
a temporary depression in economic activity or prosperity
Cultural Dictionary (I didn’t know there’s actually a cultural dictionary)
general business slump, less severe than a depression.
Our economy is built on our society’s shopping patterns and habits. If everyone shopped like me, we would have a HUGE recession, and really, for people like me, there would be nothing to purchase. Supply and demand. As long as there’s a demand, there will be a supply.
When my friend lost his job a couple of years ago, I took it much harder than he did. It made me think about a few things.
- What if I lost my job?
- Am I living within my means?
- What short term changes would I have to make?
- What long term changes would I make?
I decided not to wait and make these changes if I had to, in some sort of crisis situation, I decided to make changes immediately. Changes meaning no debt, paying myself and my charitable donations first, learning to live within my means, a healthy savings, an emergency fund, planning ahead on purchases, and of course, this challenge. Doing this progressively and intentionally made it easy. I hope life doesn’t ever throw me the jobless status, I can’t even imagine how difficult that must be. I’m living more within my means, but trying to live less than my means now.