by Docsynic

Created on: April 19, 2009   Last Updated: April 23, 2009

Though I believe the recession will teach us how to maximize our finances, whether or not these trends last depends on how long we stay in this recession, and how greatly it impacts our lives. As a rule, the longer you have adopted a habit, the more difficult it is to break. If this recession is short-lived, 'cheap living' will not have a long enough run to effectively tweak our view permanently

Nearly everyone is taking a crash course on the fine art of frugality. We are shopping at discount stores, clipping coupons, waiting for grocery store deals, and maximizing the uses of things we already have. People who were previously unaccustomed to purchasing generic brands are learning that you can live without top label products. And those who were already using these money saving tactics are becoming ever more creative -myself included.

But Americans are not well known for pessimism. We are used to being on top, and crossroads like the ones we are experiencing now, are generally viewed as temporary...by us anyway. We expect this to end. Though we may fear the worst, there is this little voice in the back of our mind that tells us, 'this will all be over soon'. This is, after all, America. We are used to a certain standard of living. (many might say spoiled)

If the economy were to bounce back, full swing, within the next six months, I would anticipate that consumer spending will return to normal shortly thereafter. But if we have to wait eighteen months, or more, for things to improve, it would not be ridiculous to assume that many of us will turn frugality into a way of life. Some might even view it as an exciting challenge.

We are a greedy bunch. We like our high definition flat screened televisions, our ipods, our mp3 players, our wii games, and our Xbox 360s. We like stuff so much, that we have to buy larger homes to house our stuff. So in sticking with a cheaper lifestyle, we would have to permanently let go of our frivolous and wasteful ways.

Just look at how we diet. When we get to a point in our lives when we feel we need to lose weight, we re-evaluate our diet, and apply changes to ensure weight loss. We begin to eat healthier foods, and we exercise. With time, many of us will lose those unwanted pounds. But how long does this stick? It isn't long before many of us who lose weight will fall back into our old ways, and regain. We want to eat a lot and stay thin. Just like we want to spend a lot, but keep our money. It's a sad conundrum.

Whether or not excessive spending has become a thing of the past depends greatly on how much this recession will affect our means to survive. Greater difficulties should provide for greater lessons. But unfortunately, some of us will never learn.

Learn more about this author, Docsynic.
Click here to send this author comments or questions.