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I'm turning 25 next month. At this age, I'm starting to pay allot more attention to the news. I watch a select amount of television, but usually when I get home I switch the television to CNN and go along with my business (usually working on my blog). It's obvious, by the way the media is putting it, we are in the worst economic recession since The Great Depression. The government has been forced to offer bail-outs and stimulus checks to counter act the downturn we're experiencing. Banks are failing. The real estate and credit markets are frozen. The stock market is down all around the world. Unemployment is on the rise. Gas is considered cheap now at $2.55. The news is getting more and more grim. If you watch too much of this stuff, you'll either be forced into poverty or forced into financial freedom. There's a lot of discouraging news out there. With all of these fear-driving forces in work, I still find it hard to find where the economy is effecting me. My adult life started in this economic environment, so my finances have been automatically adjusted. Groceries seem expensive, but I really don't know any better. I don't have a mortgage or a business, so my rates aren't going up. The only part of my life controlled by a rate are my credit cards, and I don't use them much. I've been working on my credit, but I'm really not ready to buy a house (look at my savings). I have a steady job, and so far it's kept me busy. It's not as busy as it was 2 years ago, but it's steady. I suppose I'm lucky that I haven't gotten laid off.
I know that I'm not recession proof, but I honestly haven't felt the pain yet.
I'm not trying to boast at all, but sometimes I wonder, what's the big deal?
How is the current economic crisis affecting you?
2 comments:
I am pretty much in the same boat even though I have lost a little bit of money in my RRSP account and in some shares that I hold..
The reason I am not as concerned as others is that I anticipated some sort of an economic downturn, so I put my money into more guaranteed investments..
The degree to which a recession impacts your life depends on your career as well. Some jobs are more recession proof than others.
At this point, I try to avoid the new on these issues. I actually stopped watching the news after the election. I am just burnt out! My partner hasn’t not gotten away from it though. I try to get myself together financially and otherwise because I cant control what happens out there.
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