Finding yourself, work, and family in economic crisis

We have all been thinking a good bit about the recent economic downturn. A person turning on any TV channel or surfing the Internet is likely flooded with upsetting images of the worldwide crisis. There is no doubt the economy, on balance, is not good for the people in our community. But, we should ask ourselves, are there any bright spots?It might be tough for us to imagine any bright spots, but here are a few to consider.

First, if you don't already own a home, your housing costs could be significantly lower. It's a scary time to buy real estate, but if you've got the courage to invest long term (5-years or more) you should be able to buy a house for significantly less than you could have a year or two ago.

If you're really disciplined and not too choosy you can probably pick up something at a very low interest rate. Furthermore, as real-estate prices fall, the cost of rentals does, too. Many people are even finding free house-sitting gigs as a way to supplement living expenses.

If you are in search of a job, you might consider local community organizations and colleges. In times of economic struggle, more people turn to cheaper community colleges, where they can save on tuition and housing costs (by continuing to live at home).

In the private, non-educational sector, as companies lay off lots of workers and hiring freezes are in place, freelance temp agencies often do well. Some industries to consider finding a job include nursing, assisted living care, waste management, security, administrative, collections, sales and accounting positions.

On a more personal level, reflect on lean circumstances as a good time to have less but enjoy your time more. Many people will have to come to terms with the reduced value of their labor in a new market that can't make good use of it. As the value of labor declines, the relative value of pursuits-such as hobbies, and spending time with loved ones--increases.

This might be the best advice for dealing with bad economic times. If you're forced to take a break, invest your valuable time to improve your professional skills, physical and emotional fitness particularly take advantage of educational resources.

To the working person, certain things stand out which can aid greatly to recession proofing your life today.

1. Don't panic. Now it's time to re-boot your life!

2. Live affordably just below your means. It will train you to save more and make more money than you ever imagined in the long term.

3. Update your resume and network of contacts. We all get lazy when we're in a comfy job. If you lose your job, understand that there are always jobs out there-even in a recession.

4. Looks for deals, perhaps buy used items to save money! The Internet has many resources such as eBay, Craigslist and Amazon.com that offer amazing savings on high quality used it ems of all kinds.

5. Learn from this temporary experience. Don't pretend that your debts and responsibilities are not there just because ''everyone is in debt'' or ''the economy is bad." Negotiate a payment plan to get out of debt. Write down a new life plan, take responsibility for your future.

Recently, a friend related his story of spending two years in a combination of un- and under-employment, the result of a forced move to an economically under-developed area. He was hardly rich, but kept his family dry, warm, and fed. But at the time he remembers being too stubborn and consumed by self-pity to take advantage of the leisure time.

He eventually learned to recognize the overwhelming guilt of not working had consumed his life and would not payoff in the end.

Enjoy the opportunity to learn, improve your family relationships and retrain your thinking process to successfully overcome short term challenges in the future.