The media is expounding its gloom and doom depressing recession talk, and it’s got me thinking.
There are some good things that come out of a recession:
Recessions force us to think. When the housing market is lousy or when we fear potential job layoffs, we make more calculated decisions. When gas prices sky rocket, we must make some decisions about our driving habits. We’re forced to consider what things are “wants” and what are “needs.” We’re forced to consider our values and determine what our goals are. We’re forced to get creative to make our dollars last.
Recessions help us to conserve. When the economy is bad, we’re more likely to do things that will help us conserve our resources. We may cut back on driving. We cook our own meals. We may start using CFLs to save money on our electric bills. We recycle things. We fix things. We borrow and lend things.
Recessions inspire us to save money. We look at ways to eliminate our debts, to earn more money, and to make our money go further. We prepare for that rainy day because we can see the clouds on the horizon.
Recessions foster stronger communities. When times are tough, it’s harder to buy gadgets and toys and go on vacations. Recessions help us find inexpensive, local activities to participate in. We get to know our neighbors and spend more time with our families. During recessions, we also are reminded that others may be having a hard time, and seek ways to help them, because we know what it feels like to struggle.
No one likes a recession, that’s for sure. But during a recession there is potential for personal growth, innovation, and kindness that doesn’t always appear when times are good.