Comments on: The Question: What long term impact will the recession have on you?

By: MariamShahab

MariamShahab — Fri, 13 Nov 2009 20:16:51 +0000

Well, the recession sucks. News about when we are going to come out of it colors our twitter and blog feeds. We just can’t stop talking about it. The more we talk about it, the more the recession’s impact on our lives is reaffirmed. That said, the recession has made being a savvy college student a harder task. These are supposed to be the best days of our lives, but it’s hard to complete everything on my ‘to do before graduation’ list when everything on it involves a $30 plus investment. As for long term impact, I think the recession will continue to define us as a generation who struggled with (and subsequently conquered) the difficulty of finding a job. The recession forces us to get creative both in the short and long term. Creativity in making ramen noodles dinners last longer to creativity in networking through social media sites to land a job that a friend’s friend’s coworker’s girlfriend knew about. We’ll beat the recession, but it will always be a part of our personalities.

By: Andrea Graham

Andrea Graham — Thu, 12 Nov 2009 19:12:59 +0000

This is the advice I wish I had taken in no particular order:

* Go to community college and then finish up at a state school. Pay as much as you can before considering loans. Starting your life with 30,000+ dollars of student loan debt is no way to start your adult life.

* Don’t aim for your dream job. Study for a career that you won’t hate and keep your passion alive after work hours. Health insurance and a steady salary will keep you afloat while you dream up your next big thing.

* Don’t try to save 3000 a year. Save 3000 a year. Even if you work a crummy job. Increase these savings as you get older to 8,000-10,000 a year. By the time you are thirty you will be able to comfortablely afford a nice home.

* Get over luxury branding and the never ending cycle of “newest + coolest gadgets.” Treating yourself is okay now and then, not on every paycheck.

* Learn how to cook, cut back on the beer. If you order in and go out every night you will feel and look terrible by the time you 30.

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By: laura page tubbs

laura page tubbs — Tue, 10 Nov 2009 22:02:14 +0000

what recession? i kid, of course, but in all honesty, i think that a positive attitude is more important that freaking out about not having money. sure, i value my job more than i might have had there not been an economic disaster, but i don’t live my life much differently. i am 23! i travel and party and live. this so-called recession absolutely made me appreciate my career, but i think all things are cyclical and ever-changing – jobs, life, and the economy. rock on, kids!

By: Kate Vander Wiede

Kate Vander Wiede — Tue, 10 Nov 2009 18:52:43 +0000

I went to school for engineering, but there were no jobs easily available when I graduated. As I wrote cover letter after cover letter to engineering jobs, I realized I didn’t even really want them. The job descriptions themselves could have put me to sleep. After spending a few weeks applying for every engineering job I saw, and not getting anything in return, I asked myself, should I continue to work very hard to try and get a job I don’t like?

Uhm, no thanks.

If getting a job in engineering had been as easy as cover letter + resume = salary, I might not have noticed how much I didn’t like the idea of engineering.

But, because of the time commitment I faced of trying to find a position, I was able to reflect on the fact that I wanted to move in a different direction–writing.

Maybe I would have realized I wanted to be a writer either way, but the recession gave me the courage to do it today. If I have to work hard for something, I should be working for something I looove. I can thank the recession for giving me the time to realize the right direction to head in, and that impact will last a lifetime.

By: MaxSilver

MaxSilver — Mon, 09 Nov 2009 20:04:45 +0000

The recession had a long and short term impact on me, and not so much on my daily spending. What happened to me was I began to get very nervous about being able to find a job when I graduate, so I started working harder to distinguish myself from others by doing as many internships as possible. I really believe if I hadn’t been as nervous about the job market I would not have had many of the opportunities I have had so far, and this will hopefully eventually lead me to a good job and career come graduation this spring.

By: SusanE

SusanE — Sun, 08 Nov 2009 17:38:35 +0000

I can’t work or think in long term. Short term for the next few years, I will carry on just watching trends. I knew the recession would happen, but didn’t know when. The ’40 somethings’ were in debt way over their heads, and the Government spending was totally out of control. So, the recession hasn’t had an impact on me directly. I was stunned that it happened so fast.

I won’t buy low to sell high in the near future. Money is more important than inventory now. I saved some and cut back in 2007 so I could ride this down time OK. Customers need money to buy high, so I will use patience. If the former spender/buyers become addicted to things again, I’ll sell to them. If they become addicted to money itself (saving) like many people did after the depression, they will NOT spend it, Ever. Money + them, till death do us part.

So my long term is yet to be decided. Will the public become greedy again or prudent? Depends on how expertly the marketers do their job for me.

Do these thoughts make sense to anyone else?

By: MatthewNolet

MatthewNolet — Sun, 08 Nov 2009 02:01:10 +0000

Although the most obvious answer here would be that of employment, I would have to say that the recession has colored my spending habits the most. I am no longer the “free-spender” I once was. Due to the forces of un-gainful employment and sizable debt, I proceed with a caution to my spending that limits me greatly. Rather than planning for how to spend the paycheck, I now ask “How do I save this?”

By: Angela Stefano

Angela Stefano — Fri, 06 Nov 2009 23:58:51 +0000

It’s certainly making it harder for me to find a job in my field, and I hope that doesn’t become a trend. The job I have now is a good starting point — and I was fortunate to find it, and it’s certainly better than my retail job — but I don’t want to do it forever. I put money towards a degree for a reason; I’d like to eventually use it.

But other than that, like another poster said, I’m fortunate to live with my parents and not be paying off college loans. I’m paying for a car, but that’s about it as far as major expenses. I do need to save for an apartment and just in general, so that means spending less on a personal level, but that’s not so much a product of the recession as it is just a product of me being a 21-year-old college grad living with her parents. So I guess it hasn’t had much of an effect — and I hope I’m right on that. If I’ve been living in a fantasy world, fooling myself, and suddenly find out, I’m going to be pretty upset.

By: Erica Nardello

Erica Nardello — Fri, 06 Nov 2009 21:51:17 +0000

Short term, the recession hasn’t affected me much yet. I’m fortunate enough to live with my parents, while I prepare to graduate early (which will be in 2 months) and they help me as much as they can. As I look for jobs, I’m sure that the long-term effects will be just as severe for me as they are for other people now.

Long term, I think job candidates will be more competitive in an effort to differentiate themselves. I know I’m looking to do everything I can to stand out from the crowd, which is hard enough in the advertising industry as it is. Also, because we’re taking lower pay now in response to the recession, it’ll be harder for us to earn more in the future.

Overall, though, I’m sure things will level out. The demand for junior-level copywriters will go up (it has to, right?) and the talented, hardworking individuals will rise to the top again. It just might be more difficult to show someone that I have skills and that I’m willing to start from the bottom and prove myself from there. If anything, the recession will impact our psyches the most. I know that when I get down about the job market, I need to take 20 minutes and be upset, but then after that, I put my game-face back on and focus on the fact that I’ve done some great things and created work that I’m really proud of. The recession will make us more self-aware and help us realize that we can’t crumble under the pressure of fewer opportunities – we need to become more confident in ourselves and our abilities in response.