by Katarzyna Radzka

Created on: June 07, 2009

The world is in panic. It doesn't matter whether you are based in the US, the UK, Europe, Asia or Australasia, the crisis has touched the lives of many, and it doesn't look to be leaving either. Job losses have been many, company closures, bankruptcies have followed and people are losing hope.

But this is nothing new, in fact we've had many recessions since the 1940's with more to follow, however we have always managed to survive and be better of. This is a natural way for the economy to stabilise itself and continue improving over the long term. The current situation appears to be the worst since the Great Depression, however we are living in different times and we have the opportunity to look at it from a more positive perspective.

There are advantages of a recession and we should make the most of them.

Some of the most successful businesses were started during a recession. You've lost your job, what better time to start your own small business then now.

Family relationships are strengthening. We are forced to spend more time at home, going back in time and playing board games, discussing life and the days events at the dinner table, and spending quality time outdoors. Play ball with the kids, spend quality time with your spouse, or head out for a stroll in the park.

Opportunity to change jobs. So you've been thinking about it for a long time. Now if you want to branch out to a career that hasn't been effected by the recession now is your chance, especially if you've recently been retrenched.

Time to wake up and smell the flowers. Life is so fast that we don't have time to enjoy it and be grateful for the small things we have, our health, our love, our family and friends, the fact that we have a roof over our head. The recession reminds us and helps us appreciate the little things in our life that are the most important.

We are forced to think about every day things like commuting to work, shopping for groceries and preparing meals for the family. By taking public transport we not only save on petrol costs but also help the environment. We lower our grocery bill by purchasing fresh produce and we dust of those cook books in order to prepare our own healthy meals with the family. No more take out three times per week.

It forces us to plan for the future. When everything is going smoothly, we forget to cover ourselves for the gloomy times. Work insurance, a savings account and debt reduction are not high on the priority list when we're on a high, however we realise their importance when everything is falling apart.

For people who have savings and are in a good financial position, this is a great time to continue their investments. Most successful investors buy when everyone is selling because the prices are in their favour, and so are the interest rates.

So losing your job is not the most admirable thing nor is having a mortgage you can't make repayments on but there is hope. The recession will unsettle most people, it will cause arguments and conflict, it may even cause chaos and havoc in our lives, but if we take a moment to look at the bigger picture, we might find an opportunity among the debris, and end up being better off in the long run. Even though times may be troubling, remember to show your love, have a bit of fun and not take life too seriously.

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