by Jack Stone

Created on: August 23, 2009

Living through a depression can be one of the lowest points in your life-or one of the highest points, depending on your point of view, organization and choices. A depression can be either a horrible experience to have to live through, or an enormous opportunity in disguise. The only one who can decide if these recent economic times will be a curse or a blessing is you.

First, you should take this opportunity to downsize and possibly simplify your life if money is tight. Recessions are bound to happen, and if your current lifestyle cannot survive through one then you probably should reconsider your options. Things like Do I really need to buy coffee today? or How often am I really using cable can cut a surprising amount from your expenses every month. And perhaps more importantly for some, the opportunity to simplify their life is valuable in itself. The complications of an overly materialistic life can be aggravating for some, and you might find that you enjoy removing superfluous luxuries from your life. You never know, if you cut everything that you do not find useful you might end up with a good hunk of change at the end of the month.

Next, you should remember that while the recession is very difficult, the opportunities it presents are extremely rare. Interest rates have been cut drastically, real estate is at the lowest price it has been for years and stock is generally cheap. If you have some extra money saved up you could make a killing by buying up these cheap investments and selling them in a few years. There is relatively little risk in buying stock right now, especially since the current government seems to be intent on stimulating the economy, and there is an enormous opportunity for gain. Unfortunately, this only works if you have a nest egg saved up somewhere. If you do not, you might be more worried about employment than long term gain. However, you should still try to take advantage of the current economic situation, both for your own benefit and for the benefit of businesses that need the money right now. Even if you can only afford a few shares of stock, you could make a decent profit and help the economy at the same time.

If you are having more serious trouble and need to seriously downsize, you should consider some alternate forms of entertainment. Cancel your cable and get a library card, this can be a great opportunity to read all of those books that you have been meaning to read. Instead of going out drinking, try writing a novel. Take an interest in puzzles, they can be a great way to entertain yourself for a couple of hours. Consider helping out in your community, helping people in need or getting a bunch of friends together to clean up a park. There are plenty of productive, and perhaps more importantly, cheap, ways to use your time.

Your opportunities are out there, even more so now that economic times are difficult. Go out and take advantage of them. Do the things you always wanted to do, but somehow never made time for, either because you had other engagements of because you just felt silly. Invest in something with the hopes of making a long term profit. This is a time of opportunity, do not waste it feeling sad or just waiting for it to be over. The economy will recover, just take a deep breath and make the best out of a bad situation.

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