At Buy and Sell Right, the Right choice for all your Real Estate needs, we also believe it is a time for reflection and getting back to the true meaning and goals of our lives. Providing outstanding customer service is just one of our goals. We are always just an email or phone call away. No pressure just great customer service, and always with a smile.......Judy
This article was reported and written by Jay MacDonald for Bankrate.com. Published July 2, 2008
The hard times of the '70s were also a period of reflection and recalibration. The latest downturn is an opportunity to return to the family dinner table or the garden. Chicken Little and I differ on the coming recession. He hears the R-word and immediately thinks "financial ruin. "I hear "recession" and think "disco!" If you are old enough to have worn a mood ring, Earth shoes or bell-bottoms the first time around, you probably recall the stagflation days of the 1970s with a bemused mix of humor, national pride and nostalgia. The forecast was just as dire back then, and for good reason. In 1975, inflation topped 14%, unemployment approached 6% (but doubled that in some locales), and fuel and food prices were headed skyward. Most of us would be well into the Reagan years before our wallets grew appreciably heavier. The funny thing is, I don't remember the sacrifice. We drove used cars and lived within our means, since car leasing and credit cards were not yet widespread. We rented and shared apartments, since the average home mortgage rate hovered around 10%. We shouldered none of the financial burden of such modern conveniences as cell phones, high-speed Internet or fitness center memberships. No one wants a recession, of course. It can cause serious economic pain for millions. However, economists tell us there are some reasons to actually welcome and perhaps even embrace a recession. After all, a recession is the ebb part of the natural ebb and flow of the U.S. economy. Just as surely as hot markets cool and bulls turn to bears, capitalist economies take a breather every so often to pause and reflect. If they didn't, these corrections would be far crueler. So, let's smile, lift our half-full cups of regular unleaded and toast these 10 very good things about impending bad times. Family dinners Want to start a revolution? Try eating dinner together as a family. Recessions tend to foster family mealtimes as the pin money that drives fast-food meals and overscheduled lives dries up. Nothing could be better for America, according to the Substance Abuse and Mental Health Services Administration of the U.S. Department of Health and Human Services. (See "Commodifying the family dinner" on MSN Money's Smart Spending blog.) Research has shown that family meals promote a healthier and more balanced diet, foster better communication and ward off teen suicide, eating disorders and substance abuse. But no, we can't make your little sister stop kicking you under the table. Shorter lines at the pump It seems like only yesterday we witnessed the thrilling rush-hour road rage exchanges at every metropolitan gas station across America as gas hogs great and small furiously jockeyed for the pumps. Not anymore. Ever since gas topped the magical $4 tipping point, you can fill up, wash the windows, check the oil, enjoy a leisurely roller-cooked hot dog and a 32-ounce giant gulp and even grab a power nap before the next customer appears in your rearview mirror. Can curb service of Red Bull and Slim Jims be far behind? Less junk mail Thanks to the presumptive recession, many of us have recently glimpsed the back of our mailboxes for the first time in years. According to the Chicago research firm Mintel Comperemedia, credit card direct mail volume has dropped 19% since October. Last year, credit card issuers cut their mailings to current customers by nearly one-third (30%). That will free up delivery space for the junk mail we enjoy receiving: coupons. More coupons When the going gets tough, the tough clip coupons to help maintain their lifestyles. A February survey by ICOM Information and Communications in Toronto found that 67% of Americans are likely to use coupons during a recession, regardless of their income. Traffic to online coupon sites is growing rapidly, with page views up 38% to 281 million in March compared with the previous year, according to the research firm comScore. New Web tools and online communities can help you find the best grocery deals in town. MSN Money's Liz Pulliam Weston shows us her favorite tools for cutting your grocery costs. Restaurants in particular typically resort to buy-one, get-one-free offers and other discounts to fill their tables in hard times. Peter Meyers, marketing vice president at ICOM, says coupons can save the average family 25% on their grocery bill, or $2,400 a year based on an $800 monthly outlay. How's that for an economic stimulus? Free fitness What's the official vegetable of good times? The couch potato, of course. But as gas prices skyrocket, alternative modes of transportation are once again gaining traction. When you ride a bike, walk to the bus stop or hoof it to the train station to commute to work, you get a free workout along with saving gas money. You can extend your free workout in other ways. Throw in a little cardio (by skipping rope, jogging or rowing) and add some upper body (with push-ups, sit-ups and free weights) and you can save the $35 to $40 a month that CostHelper.com estimates we spend on average for a single fitness club membership. Bargain SUVs Not all prices go up in a recession. Case in point: gas-guzzling trucks and SUVs. Once gas approached the $3.50 mark, prices of new and used SUVs, pickup trucks and minivans plummeted. Ford and GM recently announced plant closures and production cuts at their truck and SUV facilities in response to the swift public migration to fuel-efficient compacts and hybrids. If you've long coveted an SUV, make your move now. Heck, you may drive away with a year or two of free gas in the deal. Business startup opportunities What do Microsoft, Hewlett-Packard and Disney have in common? They all started during economic downturns, as did more than half of the 30 companies that comprise the Dow Jones Industrial Average. In fact, entrepreneurial startups by laid-off and downsized employees, managers and executives often help get the economy growing again. Recessions are a great time to open your own shop: Wages are down, rents are cheaper, competition is scarce and goods and services can be found at a discount. There's no better time to become your own boss. Growth in gardening A recession is the perfect time to get back to nature. Bid your lawn service adieu and put your mind and body to work tending your grounds yourself. The benefits are numerous. Regular gardening provides cardio and strength training, improves flexibility and relieves stress. These health benefits help fight heart attack, Type 2 diabetes, obesity, high blood pressure and osteoporosis. The fruits and vegetables you grow also encourage a healthier diet. And the money you save by doing the mowing, raking, pruning and mulching yourself will more than pay for your equipment, fuel and next year's plantings. Musical inspiration Do economic downturns inspire great music? A case can be made that hard times help produce heartfelt anthems that cut through the anesthetic musical drone of the day. This has been true of everyone from Woody Guthrie to Bruce Springsteen to the Clash and even Kurt Cobain. Given the current state of popular music and its obsession with an affluence that is quickly disappearing, the climate would seem right for the emergence of new artists who can rekindle passion and urgency in American music. New perspectives Perhaps the greatest boon of a recession is the time to reflect and reassess the true meaning and goals of our lives. For instance, it's doubtful that today's green movement would be where it is today without the small-is-beautiful mental reset of the '70s. If history is any indication, we humans are inclined to resume our consumption full speed once the economic engine starts rolling again. But our progress toward a more sustainable future comes in increments during those times when we are forced to do without. We may not yet be ideal stewards of the planet, but we're making progress. Temporary setbacks like recessions prompt our collective course corrections.