Comments on: 6 Lessons Learned From The Recession https://eliteedgemoney.com/6-lessons-learned-from-the-recession/ Money | Minimalism | Mohawks Sun, 11 Mar 2012 19:30:59 +0000 hourly 1 https://wordpress.org/?v=7.0 By: J. Money https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56787 Wed, 06 Jul 2011 19:23:43 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56787 @Yana – Haha, yes Amazon.com can be the devil at times ;)
@Jeffrey Trull – That’s good to hear! I don’t follow the stats much, but I’m glad it’s trending that way. We can most def. learn from this Recession and all other huge events that happen in our lives.
@Jenna – You’ve got awesome parents!!! You tell them I said so ;)
@Kathryn C – Oh nice, never heard that before? I suck at re-balancing but thinking of having someone manage it for me so I don’t forget anymore ;) Though, ofcourse that means more money. But I’d gladly pay to earn more in the long term!! (and thx for the kind words – glad you still enjoy my “style!”)
@Daraius – YUP! Brilliant guys being brilliantly frugal ;) Nice additions.
@Matt – You can go farrrrrr with “only” saving & investing! You do that forever and you’re set :)
@Paula @ AffordAnything.org – At least we all get reminded at times, eh? Even though the world seems to be crashing around us then! ;)
@Ginger – A car to live in? ;)
@Jen @ Master the Art of Saving – Oh yeah!! I think most of us got off SUPER easily too. We all lost money or had to/have to deal with more $hit, but compared to the BIG recession, it’s not nearly as bad… well, compared the the stories we hear and all. Maybe 50 years from now all we’ll hear is the horrible ones?
@Evan – Hah! Even 3 years ago we were freaking out about gas — when it was gonna hit $10 a gallon :)
@cashflowmantra – All smart moves, yo!
@Alisa @ Earn My Keep – COOL!!!! Wow, that is such a good idea for a kid – I would have totally done that myself as a youngin’! If you ever wanna do a guest post, give me a shout ;) I think others would enjoy hearing more about that too.

]]> By: Alisa @ Earn My Keep https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56749 Wed, 06 Jul 2011 14:25:17 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56749 The world may not be better off (or is it?) but my kid most definitely is. In early 2009, my husband and I made an economy-driven decision to break all spending into “needs” and “wants.” One day, I went a bit obnoxious on my then-four-year-old (struck with a case of the “gimmies” in Target) by exclaiming, “You want that new lip balm? Get a job!” And in a stroke of genius (or as I like to put it: insanity) I gave her an actual job. She’s been a Chef, Photographer, Geneticist — this week she’s a Social Activist. The idea of teaching her the value of money by test-driving real careers has been a resounding success in our home (thus far), and even inspired a whole program based around the concept (www.earnmykeep.com). It’s also opened a host of family conversations about the fiscal mistakes we’ve made and what we’re doing to correct them. I can honestly, truly, with every fiber of my being tell you that when the economy tanked, I did not see that one coming.

]]> By: cashflowmantra https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56741 Wed, 06 Jul 2011 13:33:25 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56741 I can’t speak for the world being in a better place after the recession, but I have sure learned some valuable lessons mostly related to the six above. I am working on swearing off debt, managing cash flow to start an emergency fund through better spending planning (budgeting), and working to prioritize expenses and lifestyle. I appreciate the lessons learned.

]]> By: Evan https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56725 Wed, 06 Jul 2011 03:49:21 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56725 Our memories are way too short here in America (and probably Western Civilization as a whole). It was only 20 years after the gas disaster of the late 70s that we built huge gas guzzling SUVs lol

]]> By: Jen @ Master the Art of Saving https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56715 Tue, 05 Jul 2011 22:14:38 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56715 When I hear “recession”, I think of all I heard about the great depression and how devastating it was for so many people. :-( I know there have been many people put in similar situations, but I can’t help but think we got lucky compared to the great depression. Aside from the suffering and all the $hit that’s happened to people I think it was a good “wake-up call” for most people.

I’m guessing that after they (a majority of people) get back on their feet, over time they’ll start getting more comfortable and slowly drift back to how they were before. I also think that others that have really worked hard to learn more about their money will keep up the great work. That sounds contradicting. Anyways, I know that I will NEVER go back, no way baby—I’ve worked too hard and won’t throw it all away.

]]> By: Ginger https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56713 Tue, 05 Jul 2011 22:13:52 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56713 Paula, sadly I have to agree with you. When we purchased a house one of my DH’s friends came to help us move. Mentioned he had thought of buying a house but decided to buy a car instead, sigh.

]]> By: Paula @ AffordAnything.org https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56709 Tue, 05 Jul 2011 20:57:32 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56709 During the recession, everyone said that the way Americans spend/save is changed forever. One year later, most people are back to their old habits.

Some will remember the lessons from this recession. Others already knew those lessons long before the recession. And others may never learn.

]]> By: Matt https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56705 Tue, 05 Jul 2011 20:22:18 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56705 These are spot on lessons learned. My main focus now is to save and invest. Simple as that. Thanks for the enlightening post.

]]> By: Daraius https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56693 Tue, 05 Jul 2011 19:32:21 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56693 #5 is spot-on, and thanks for shining some light on this. I don’t know why we typically associate financial prudence and being thrifty with “cheap,” when the correct association, as you point out, is with “smart!” Most self-made folks were and are notorious misers. Look at Warren Buffet or Carlos slim living in the same house for many decades or Ingvar Kamprad (founder of IKEA) cruising in a 10 year Volvo.

]]> By: Kathryn C https://eliteedgemoney.com/6-lessons-learned-from-the-recession/#comment-56689 Tue, 05 Jul 2011 17:56:46 +0000 https://staging.eliteedgemoney.com/?p=11191#comment-56689 First off, we all know that professional journalism is for drips, your summary, and personal touch, is much better than their article.
One I’d add to this article is a point on rebalancing under “stay in charge of your investments.” People who didn’t rebalance after 2008 lost out on huge gains in 2009. It takes guts to do because you feel like you’re catching a falling knife, but pays off. We’ll surely have another meltdown like we just had so people in their 20’s and 30’s need to get cozy with rebalancing, a big lesson learned from this last recession. Rule of thumb people say is rebalance after a 10% down move (buy) or a 25% up move (sell).

]]>