How the recession affected my family and me...
By Jess
@JJ4Ever (4693)
United States
March 6, 2011 3:51pm CST
I’ve heard the actual downturn of the economy took place in March 2008. I’m not sure how accurate that is, but I just wanted to share how it affected my family and me, and then please do share the same with me!
In June 2008, the company I was working for at the time as well as their “brother” company both laid off half of their employees, which included over 1,500 employees total. I was extremely fortunate to be one of the employees who still had a job after the event.
In July 2008, I decided it would be best if I moved out of my parents’ house. Our relationship at the time wasn’t that great, so it was a hard decision to make. I’m not one to run from conflict; I usually confront it head-on and deal with it. Since I had my own health and well-being to consider, I moved into my own apartment, complete with a dog rescued from the local shelter to keep me company when my husband-to-be wasn’t able to visit. I was still very sensitive to the fact that we were in a recession, but I tried not to let it affect me too much.
In early 2009, my husband-to-be and I began looking for a house. We didn’t want to share walls after we were married if we didn’t have to, and thanks to the struggling economy, real estate was on sale! We had a phenomenal realtor who introduced us to a home that on the market as an estate sale. (If you’re not familiar with that term, it’s when the homeowner passes away, which prompts the sale of the home.) The house was a dream to me. I didn’t think we’d get it, but after some negotiation, our offer was accepted. In June 2009, we closed on our first house!
In July 2009, my husband and I got married. My grandparents paid for our low-budget wedding, and we were still able to have a wedding and reception for 300 people! We were also given two weeks at a couple condos for free as a wedding gift from my in-laws. All we had to pay for on the honeymoon was gas to get to our destination, food, and entertainment. We paid for all of it in cash that we got from the wedding!
Let me also mention that because we purchased our home in 2009, we qualified for the $8,000 first-time homeowner tax credit. That helped us to purchase a pre-owned truck for my husband to drive for work.
The recession must’ve missed us because life definitely treated us well over the past couple of years. I’m so grateful because the effects of it were horrible. My heart went out to all the people who lost jobs, homes, and so much more.
I just wanted to share my experience of this past recession with you. If you could please do the same, I would love to read your responses!
3 people like this
9 responses
@peavey (16936)
• United States
6 Mar 11
It sounds like you have done well! For myself, the recession hasn't caused much of a problem, although rising prices now are beginning to. I quit full time work last fall to retire, but with things going the way they are, I am still working a little and will probably keep on doing it for quite some time.
1 person likes this
@JJ4Ever (4693)
• United States
15 Aug 11
That's kind of the way I look at things too. Those who have large investments and such probably didn't make out as well. I know not everyone was as fortunate as we are; it's like they're still picking up the pieces of what was left. I feel for them and surely hope they can get back on their feet soon.
@JJ4Ever (4693)
• United States
15 Aug 11
I'm glad you were able to retire, but hopefully with working a little you're able to earn what you need while also enjoying retirement. You need some time to relax, too, and I'm so glad to know that the recession wasn't too rough for you. Retirement is probably a great way to end the recession!
@Polly1 (12645)
• United States
7 Mar 11
Its terrific that life is going so well for you, is nice to hear. I remember some of the crap that was happening, you hung on. Look how well it all turned out. Lucky for me I live in a paid for house. I live day by day, week by week. The recession as been hard on me. I live on faith, knowing that God will see me thru whatever. Yes I do my part. I work online, I also manage part time a telemarketing office. Don't make much money but live frugally. My kids and grandkids lean on me alot. I mostly just hang in there. I do what I can and try not to get too pressed about all the rest. "Don't sweat the small stuff". I wish you continued happiness and success.
1 person likes this
@JJ4Ever (4693)
• United States
15 Aug 11
Polly, I'm so glad life has been treating you well. You're right about me going through a lot of crazy things, but my hubby and I are better now because of it. It was also insane getting married through the middle of a horrible recession, but like you said, God really did see us through as He always does. We just have to depend on Him and the fact that we've been wise with money, our time, etc. We were both able to get new jobs that we love (and pay better!) both within the last year, so that has been a wonderful improvement as well. It definitely takes the stress off us having jobs we enjoy! I'm really glad your house is paid off because not having that extra house payment probably made a huge difference to you going through the recession and all. We don't make a lot either, but we do have the luxury (if you'd call it that!) of a double income in case something were to happen to one of us, and we couldn't work. Thanks to careful planning and things along those lines, we'll have a paid off house this-coming January! Can't wait to see how green the grass looks once we own the house and property. Of course, the grass won't be green here in Michigan in January, but you know what I mean...lol! I'm glad you're doing well. I've missed my wonderful, positive friends here on myLot. 
@sedel1027 (17846)
• Cupertino, California
6 Mar 11
Wow, you have been lucky! We would have been a bit luckier than we have been but we took some chances - moved to a nice place for better school for my son, for example - that ended up biting us in the butt and forcing us to make a decision that has been iffy at best. We are lucky though that we do have reliable income, a roof our our head and more than enough to pay our bills, even if we have had to scale back exponentially.
1 person likes this
@JJ4Ever (4693)
• United States
15 Aug 11
I'm so glad the recession was somewhat mild for you. Unfortunately, recessions highlight our weaknesses...for instance, when people don't know how to deal with their money for a rainy day, when that rainy day comes along, they don't know what to do because they aren't prepared. I'm sure you couldn't foresee what would happen with your son's education, but at least you were able to deal with it and move on. I'm so glad you are doing well post-recession!
@jugsjugs (12967)
•
6 Mar 11
To be honest this has not really had an effect on us.The shopping has gone up every week for over a year now as well as fuel, so that is the only difference we had noticed.I know that there are alot of people that are in my area that have lost their homes as well as jobs, which is a shame, but thankfully my husband still has a job where he works, however if he was to lose his job we have abit saved so that would tide us by and with him having hgv and doing bailiff work for the courts he would not have too much of a problem in finding more work in those fields of employment.
1 person likes this
@JJ4Ever (4693)
• United States
15 Aug 11
I don't appreciate the rising grocery and gas prices either, but generally speaking, prices do tend to go up after time anyway. They can't stay the same forever, and they sure won't go down because that'd be impossible. I'm glad you didn't notice any differences other than that during the recession. I think it was hard enough without having to deal with any other negative experiences.
@asyria51 (2861)
• United States
7 Mar 11
I had a kid in the middle of the recession. That hit us the hardest. We were getting by during the start of the recession, even putting a bit away each month. That bit went to paying the doctors off, then towards diapers, then formula and child care.
We have almost nothing in savings right now and it gives me heartburn just to think about it.
1 person likes this
@send2noel (140)
• Saudi Arabia
7 Mar 11
for me recession or not, it is prudent to save and be wise in spending. life is getting more difficult nowadays. simple living will help us get through the financial crisis and economize on the use of our resources, from electricity to water and etc.
1 person likes this
@JJ4Ever (4693)
• United States
15 Aug 11
I completely agree with you! If we're living the way we should and saving money as is wise, the recession won't really hit us hard at all because we would've been prepared for it in the first place. I think poor planning is made worse when hard times hit. It's always better to be prepared!
@GardenGerty (160626)
• United States
6 Mar 11
Some of what you experienced was good fortune, or longevity. Anyway, you did not lose your job. The wonderful wedding gifts were because people love you, and that was neat. You also seem to have a level head on your shoulders about how to use money that is a windfall, like the first time homeowner credit.
We have a home that is nearly paid for, and in 2009 I had a steady job and so did my husband so we paid off some bills. When I had a bonus, we saved it. Lucky for us that we did. He was still employed, I needed a minor surgery, and while on leave I realized that my job was wearing me out, making me sick, and ruining our family life.
I gave notice and quit. The company offered me alternative employment, but I did not take it, so I could not draw unemployment, but at that time hubby was working and we did okay. We had a household emergency, replaced a water line, some electrical breakers, a hot water heater and paid a $400 water bill. I have had three jobs since then, one doing census. The other two ended due to lack of work. I am drawing unemployment now, nothing really out there for me to do. Hubby is out of work, and at his age no one is hiring him. He does get some Social Security, but he took it early because of the job market fluctuating so much. My son separated and he was out of work a while and lost his home, he lives with us and pays us rent. He has a decent job now, though. That is how the recession has treated us.
1 person likes this
@JJ4Ever (4693)
• United States
15 Aug 11
It seems that you definitely experienced some ups and downs during the recession, but really, most of it was good. You have your family, and you were able to find what was best for you - to give up your jobs for your health's sake, and it's great that now you can draw unemployment. I'm really glad for that. I'm sorry to hear your son is separated and lost his house, but it's great he pays you rent and that you can spend time with him. Hopefully his being with you and your husband is a good time for all of you. Sounds like he needs some time to get back on his feet after some hard times. I think when disaster hits, that's always good to have a place to go just in case. I'm glad your husband and you were wise with your money through the struggle. We can't predict what will happen down the road, but at least we can save money and try to have an emergency fund just in case.
@ellie333 (21016)
•
6 Mar 11
Hi JJ4Ever, I am really pleased to hear that you have been blessed with so much success over the last few years and congratulations although belated on your mrriage. I live in the UK so the the recession is just hitting really and I also feel for all the people struggling without work but am pleased to say that I am coping well even though the cost of everything does seem to be going up. huggles. Ellie :D
1 person likes this
@soapies1973 (931)
• United States
6 Mar 11
Wow it's great that your ok. So many are suffering. Take care and good luck.
1 person likes this
@JJ4Ever (4693)
• United States
15 Aug 11
You're so right. It's really easy for me to think about how good things have gone for my family and me, but I can't lose sight of those who are suffering and still have great needs. I would spend my entire life helping others in need, and giving up time and money to help others if I didn't have to work full time to survive. I think it would be great to help others even more. Thank you for your response. It's really great to think of others when times are hard.
