10 Reasons to Love a Recession

During difficult economic times, it's easy to become pessimistic about the future. Which is why it's important to remember that everything about life goes through cycles. While things may look gloomy one day, the sun will shine again tomorrow (alright, maybe a little less in northeast Ohio).

We experienced a similar economic downturn during the 1970s. People were afraid of the same things: fuel prices, food prices, unemployment. We survived.

Some people (hopefully a lot) will use these circumstances to reevaluate their spending habits. Maybe we could cut out some of the numerous bills we've allowed to creep into our lives? While, of course, noone can live without a cell phone, satellite tv, or an Internet connection, maybe we can find ways to simplify and better our lives.

This is why I found this article from Bankrate.com so interesting:
10 Reasons to Love a Recession

Talk about finding a silver lining! I can not only save money by having family dinners at home (at the actual dinner table no less), but I can strengthen family bonds and give my children a better sense of well-being? I can save money by mowing my own lawn and benefit from the exercise? I can save money by planting a garden and benefit from a healthier diet? What revolutionary concepts!

The point is: Find the silver lining! There are ways to save money and improve your life at the same time. Difficult times are not just difficult, they're learning experiences.

Tim Russert

President of Student Union

John Carroll University, Ohio

1971

Pictures taken from the Cleveland Memory Project

10 Bad Habits That Lead to Debt Disaster

Interesting article from Bankrate.com:
10 Bad Habits That Lead to Debt Disaster

The list, in short, is:

1. Misusing balance transfers
2. Not checking credit reports
3. Failing to alert creditors about hardship
4. Thinking of 'budget' as a dirty word
5. Using retail store credit cards
6. Not creating an emergency fund
7. Paying bills in no particular order
8. Charging purchases
9. Making credit payments late
10.Making the minimum payment only

Follow the link to the article for more in-depth discussion
of each bad habit.

New Economics Subject Guide

Be sure to check out the new and updated Economics Subject Guide!

Find out the print and electronic resources you have access to for information about economics. There's probably much more than you think. Many new items have been added to the reference collection over the last few months, and many links are included on the guide to valuable electronic and government resources.

Don't forget that you can instant message me on all the subject guides using the Meebo box at the top of each page. If I am unavailable, make sure you leave me your contact information. So if you have any questions, MEEBO ME!!!