Before I receive all the hate mail, I would like to say that I know that a recession is not a great economic cycle to go through. The point is that a recession is just that: an economic cycle. Things cannot grow continually, no matter how bad we desire it. The media loves to hype these things way out of proportion because they know it will get your attention, and you will listen to what their advertisers have to say. It is all about the bottom dollar. Now, I have just gradually stepped down off my soap box, so lets get on with the post.

The rise in the cost of living and fall of the dollar’s value make a recession extremely difficult on the poor and financially stretched. Even though it can make things harder for some just to maintain day to day living, lets look at some ways a recession could actually be a good thing.

• Forced frugality

While going through a recession, many people are forced to become more frugal in all areas of their lives. Not just with money, but with all aspects of their time, energy, and resources as well. We are to be good stewards of what has been given us, and this just gives us the chance to become better at it. A great resource to try to get a copy of is The Complete Tightwad Gazette. Not all of the advice is for everyone, but you could easily save a considerable amount of money by practicing only a few of the ideas.  Sometimes a copy can be found for free at paperbackswap.com.  Check out the link on our homepage.

• Learning experience

When we survive this economic downturn (I am still not necessarily convinced that it is a full blown recession) we will be better suited to not only help ourselves, but share our knowledge with others as well. Make no mistake, whether it be a tech crunch, terrorist attack, sub-prime mortgage mess, war…whatever, it will come again; when it does, we will be better prepared.

• Position to learn a new trade

If you happen to lose your job, or just need extra income from part-time work, this is an opportunity to learn a new trade or skill set that can be used in the future. Even if you get back full swing in your primary profession, the new knowledge can allow an extra income stream if you choose to continue your endeavor. Some have found their true calling in dark times such as we are discussing.

• Better planning

This one is directly related to the first item mentioned, frugality. It will become second nature to find creative ways to use all available materials for day to day living. My Grandmother survived the depression of the late 1920′s-30′s. Until the day she died that woman epitomized frugality and creative ways to use everything, and waste almost nothing. When she passed away and we were getting the house in order, each family member took loads of preserved food. She could have easily lived at least six months without setting foot in a grocery store. Who can do that now?

• Investment opportunities

If a person has managed their finances correctly, a recession is a great time to seriously study a few avenues of investment. You may research thoroughly a couple stocks to invest in. My favorite-real estate. In some areas home prices are down thirty percent. Think of that, a house that would have cost you $200,000 eighteen months ago is now on sale for $140,000. This is another scenario, unless a landfill comes into play, or the government decides to place a highway through your kitchen, house prices will climb again. I am convinced that now is the time for people with expendable capital to invest. Completely research your market, then attack no holds barred!

There we go. Some may consider these ideas optimistic, but I say that all the nay-sayers and doomsday advocates are only being pesimistic? Half full, or half empty, how do you see the glass?

As noted above, a great place to start for reducing expenses is with The Complete Tightwad Gazette. A wonderful book to give you some initial ideas. We easily saved $200 our first month by just implementing a few ideas in the first couple of chapters!

• Being Frugal: The Original Sustainability? – Chris Farrell
• Extreme Frugality: Meet the Carters – Gourmet Magazine
• 100 Ways in 100 Days-13: Fill Your Freezer
• 100 Ways in 100 Days-12: Remove Items in Groups from Refrigerator
• 100 Ways in 100 Days-9: Clean Refridgerator Coils
• Get Ready for 100 Days of Saving Money

In the past, after loosing a job for whatever reason, it was easy to become down and out. It was also easy to point, find fault, make excuses, and place blame. We cannot forget the self pity neither. “What am I going to do? Why did this happen? I should have seen this coming!! How could I have been so ignorant as to quit a perfect job?” Just a few of the questions that have race through my mind in the past. I remember a line from a movie (sadly, I do not remember which one, maybe you can help) that said, “you’re not getting any answers because you are not asking the right questions.” That is such a true statement. Replace all the questions listed earlier with “What can I do today to improve my situation?” The results are sometimes dramatic. Here are some of the ways we fought getting depressed over job loss.

1. Do not focus on the past. What you could have done, tried, said, or thought makes no difference now. Dwelling on these items will not take you any closer to making your life better. It is too time consuming to try to think of these things now when you will never have the opportunity to implement any of them.
2. Forgive whomever is to blame. It may be a former boss, coworker, friend, family member, or even yourself. Let it go. Again, harboring feelings of anger, resentment, and doubt are not going to help you. Forgive the person/people at fault and give that baggage up.
3. Make finding a job your new “full-time” job. If you spent forty hours a week at your old job, spend thirty-five hours a week looking for a new one. I am not talking about beating the pavement, but rather researching jobs you would like and companies you would like to work for. If you have never read “What Color Is Your Parachute?, I recommend it highly for those seeking a new job or a career change.
4. Stay busy. Try not to let yourself have too much idle time. To much “empty” time will only allow room for negative thoughts. If you have done your research, placed applications or delivered your resume, then stay occupied with other things around the house. Try to find ways that you can network better, or do that project you have been putting off for what seems like decades. Just don’t become sedentary.
5. Take action. Once you have decided on the route you are going to take, then take that route. All the plans, notes, and schedules in the world are useless unless you act upon them. Get a calendar and only place items on it that you know must be achieved that day.
6. Have some fun. I know that this is a hard time to think about having fun, but there are ways to have a good time in a financially savvy way that does not require large amounts (if any) money. “A merry heart doth good like a medicine: but a broken spirit drieth the bones.” Proverbs 17:22.

This is by no stretch of the imagination intended to be an all inclusive list on ways to fight depression caused by a job that has been lost; it is merely how we have tried to avoid the “woe is me” attitude that has befallen us in the past. I believe the main thing that helped us was to stay focused on the desired end result, and not the past experience. Keep looking at that “brass ring”, and on one of the trips around it will be yours.

Have you ever felt depression from a job loss, or are you gifted to be one of the always positive thinkers? How have you fought depression? We would love to know!

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