Friday, July 10, 2009
The upside to the economic downturn...
Yesterday I picked up a copy of the August issue of Real Simple and I really loved the article "anything for a buck" by Julie Rottenberg. It details how before the economic crisis, the author used to deal with scrutiny for her penny-pinching ways but now that the economy is in a constant downturn, her frugality is much more accepted. I like how she finds the silver lining to our economic woes through its effects on our society. I too have always thought that, while it's not a good thing that people are losing their jobs left and right, it has spurred some positive social changes. Being spendy is no longer the popular thing to do, extravagence is seen as wasteful, and conservation is back in a big way. I've never been much for extravagence anyway, and I think that this current economic climate has forced us as a society to question our values. Are things really that important? Do we really need the latest this-or-that, especially if it won't be popular in two months anyway? Studies have already showed that recessions are better for people's health by reducing work hours and increasing healthy habits like cooking at home, and maybe they're better for our wallets and bank accounts in the long run as well. While I naturally would love for the economy to pick up a little (so, ahem, the government will stop trying to cut my college grants) I also hope that we can come out of this a little financially smarter.
I know I have some very intelligent and thoughtful readers out there, so I'd love to know what you all think of this. What positive effects have you seen from the economic downturn?
PS: Have a great weekend everyone! And if I haven't commented on your blog lately, be patient. I'm still catching up on all the reading I missed last week :)
Image by Howard Sokol via allposters.com