Home and Consumer - Everyday Cheapskate: Good Things Happen in Tough Times

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Everyday Cheapskate: Good Things Happen in Tough Times

Mary Hunt

Technically, the U.S. is not in a recession. I know; it may feel like a recession because gas and food prices are sky-high, the housing market is down (so is the stock market) and unemployment rates are climbing. Even so, the U.S. economy has not declined in any single quarter for nearly seven years. By definition, it takes two subsequent quarterly declines for the economy to be in recession.

But let's just say we are in a recession because honestly, we could be soon. Is there any good to be found in a recession? Is there any way we can thrive during such a challenging time? You bet there is!

--First-time homebuyers, rejoice. With prices falling, dramatically in some areas, you young families who thought you'd been priced out of the housing market will have many opportunities to jump in. You may need to wait a bit longer, but expect to have your choice of many fine homes that you can afford to buy.

--Bye-bye, junk mail. While I cannot say from personal experience (my wonderful LifeLock membership has banished every scrap of junk mail from my home life), it is being reported that direct mailings, junk mail and credit card offers decline tremendously when the economy weakens. What a relief that is.

--Pre-owned SUVs are cheap and getting cheaper because they're such gas guzzlers. Buy one cheap enough and you'll be able to buy lots of gas with all the money you'll save.

--When gas prices are high, we walk and bike more to the store, train station, school and church. We get more exercise, while the highways become safer. No kidding. Auto accidents have dropped by one-third this year.

--During recessionary times, more people start home-based businesses. One expert says recessions cause wages to fall, rents to be cheaper, competition to be scarce, and goods and services to be discounted. What a great time to be your own boss.

--People are using more coupons to save on their household needs. Online coupon sites have seen a 38 percent increase in traffic because more people are using coupons.

--When money is tight, we eat out less. Research has shown that more families are cutting back on eating at fast-food restaurants. We know it's healthier and cheaper to cook at home, and if it takes a recession to get us to do that and to get families to eat together regularly, wonderful.

--When the going gets tough, we find out what we're made of. Tenacity, courage and faith are great character qualities that get a good workout when times are tough.

So let me say it again: Tough times don't last, but tough people do.

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Mary Hunt is the founder of DebtProofLiving.com and author of 17 books, including "Debt-Proof Living." You can e-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. To find out more about Mary Hunt and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.

Copyright 2008 Creators Syndicate Inc.

This news arrived on: 10/06/2008

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