Has the recession changed your lifestyle?

@kiran8 (15355)
Mangalore, India
February 5, 2009 11:29am CST
I see many people getting affected by the on going recession. Some of them have had to change their entire life style. It happened with One of our neighbors leading a comfortable life. the man lost his job and they had bought a car and an apartment on installments. Just now they have returned the car and have put up the apartment for sale. I feel so sorry for them. It will be many years before things brighten up for them.They are planning to go their ancestoral village and live with his parents . Is there anyone here who has had to suffer or change their life style because of recession? if so plz share your experiences here with us..I am sure it will help you lighten your burden and may be some members can come up with some helpful suggestions..
4 responses
@Roseo8 (2947)
• India
9 Feb 09
Hello Kiran its sad about your neighbours,and I have heard similar reports about people losing their jobs one fine day and ending up having to forgo their luxurious life style,and finding it difficult to even repay their bank loans.But this is more intense in IT and related fields,and in other fields ,there is a lesser impact.Here in my state there is generally less number of people in restaurants and shopping malls,and people are generally cutting down on their luxuries.But I am optimistic that this recession is only a temporary correction in the world economy and that things will come back to normal within a year or two......
2 people like this
@kiran8 (15355)
• Mangalore, India
9 Feb 09
Thanks for your views Roseo, i know it has been very hard for some. In fact the previous decade has seen a changed life style with people saving little and spending more. They want to have everything that is there, a car, house and expensive gadgets all on borrowed money and now when such a thing happens they really get hit. I still believe the good old system of saving for a rainy day really stands the test of time and hope that at least in the future people start saving regularly..
1 person likes this
@dpk262006 (56768)
• Delhi, India
6 Feb 09
I can understand the plight and agony of your neigbour or for that matter of any person, who loses his job. Yes, I believe that recession is effecting many sectors and many are being sacked or being paid lower salary to survice and sustain. Fortunately, that me and my wife work in such sectors, which are not likely to be effected by recession. My brother is in a multi-national bank and he always fears for his job.
2 people like this
@kiran8 (15355)
• Mangalore, India
6 Feb 09
I agree, it is very hard for some people. I have known places where some employees have decided to forego their annual bonus so that a few of them dont loose their jobs.Going by all the accounts, the worst is yet to come i understand..
@kalav56 (11497)
• India
9 Feb 09
Recession has not changed our style.Actually, we have had recessions in our life irrespective of global recession in thepast thirty years.There have been ups and downs but there was never any change in life style.My husband believes in simple living and this is irrespective of whatever his earnings are.There have been durations when he had earned a lot, and then a big period where he had no significant earnings[when he went on his own practice].His decisions were all carefully taken with the minimum cushion that would take care of the family independent of earnings.He never would borrow and assetise.Till date, he has never bought a house or a car and we have lived absolutely happily.All the houses that we chose to live in were rented.Luckily, for a long period I could afford this rental accomodation that also had the element of convenience of an own house that enabled us to stay for a long period without the need to forcibly vacate [because it was my father's residence].I could earn on my own and take care of small vanities.Our needs were not high and broadly we could cater to all essential luxuries like a phone, cable t.v,books, etc and books and toys for my son when he was growing up.The lesson that I learnt by following his style was that it gave us equanimity and peace of mind in difficult times.If we had increased our life style when the going was good, it would have caused a lot od disappointments and confusion within the family.
1 person likes this
@kiran8 (15355)
• Mangalore, India
15 Feb 09
I think there is a lot of wisdom and truth in what you say. One need not have luxuries to make one happy. It is how one is able to perceive life that makes one happy and content.I too like simple living, i can manage with the barest of necessities, but once in a while i do splurge on things that gives me happiness like an expensive silk saree or some junk jewellery to match( i am not too fond of gold or diamond jewellery) and on travel. I feel that money spent on travel is money well spent because it gives you such a lot of happiness and fulfillment and it definitely broadens your vision and outlook..
@moneymommy (3419)
• United States
5 Feb 09
Well it has effected us greatly. Soon after losing my job our car had to be reposed. We lived of our savings and now my online programs. My husband isn't able to work so its hard. I am trying everything in my power to bring money in to keep us going.
@kiran8 (15355)
• Mangalore, India
5 Feb 09
Hi, I am extremely sorry to hear about your plight.I understand how difficult it must be for you all to make both ends meet. Are you working on other online sites as well? I hope that members give you leads to other online sites which you may find useful, i had started a discussion sometime back about the sites I use for earning money online. please feel free to go through them, hopefully you could use any of them..