What Are Your Best And Worst Recession Moments?

Personal Finance

What Are Your Best And Worst Recession Moments?

22nd June 2009

Recession is a cycle in the economy of a country or countries. As we ride out the current global recession, life must go on. Interestingly, many people seem to forget that as with everything, this recession will also come to an end. So I thought about bringing a lighter moment to the daily perils of life! I've listed what my best and worst recession moments have been thus far and would like to know what yours are too. Whether it's hanging onto employment thus far or being a victim of unemployment, finding a new business strength or reducing credit card use, it's all part of our daily financial lives so let's share. We might learn a lesson or two. Below are my best and worst recession moments.

Best Recession Moments:

Going full time into business
Recognizing business opportunitities
Forced to learn more about money and finance
Following financial news more closely
The current economic climate is condusive for loans and borrowing ( as always, practice caution with this)
Cheaper interest rates on loans
Negotiating better interest rates on my credit card
Learnt to be more frugal

Worst Recession Moments:

Unemployment
With low interest rates the current economic climate is not condusive for savers
Cost of living is actually more expensive now
Not being able to spend as much as before
Worrying about income (sleepless nights and waking up in cold sweats)
Frustration when things don't go quite according to plan

This is my list of my best and worst recession moments so far. Let me know what your list is.

"Life shouldn't be printed on dollar bills. " - Clifford Odets

Comments (10):

Carl Says: Good one Kev, I'm still trying to figure out mine although the worst was losing my job too | 06.22.2009 |

Nadine Says: Mine is definately having to spend less and not buy shoes! | 06.22.2009 |

Yannick Says: I won't be able to afford travelling home this summer, that's my worst recession moment for sure and it'll be the first time in six years | 06.22.2009 |

Richard Says: For me it would have to be the low interest rate not doing much for my savings, that's terrible to say the least | 06.22.2009 |

Sam Says: Thanks for sharing, I haven't thought about my list yet either | 06.22.2009 |

Maggie Says: My best moments: I still have my kids and that's a lot to have. My worst moments: pay cut, having to spend less and not being able to get a loan | 06.22.2009 |

Bill Says: Unemployment is definately my worst. I don't think I have any best at the moment | 06.22.2009 |

Vicky Says: Thanks for sharing your list Kev. I agree with you on getting better interest rates on credit cards but the worst now is for me not being able to borrow from the bank | 06.22.2009 |

Jeff Says: Well banks have become stricter on who can borrow from them. If you do manage to get loan like I did last month, the rates are quite low which is good for me on repayments | 06.22.2009 |

Pearl Says: Worst moment = no more shopping! | 06.22.2009 |

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What Are Your Best And Worst Recession Moments?

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