How to Deal with Recession and hard times – a personal view

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One can see signs of recession and hardship everywhere. It is becoming more apparent now as days pass by. I have had many relatives loosing their well paid jobs, some going bankrupt in their business venture , some moving to smaller houses .. If this continues, over a period of time it is bound to affect all of us in one way or the other.

I happened to visit a middle class family who had fallen on hard times. The husband had not lost his job, but his pay had been cut down by 20% . The family was struggling to cope with the situation. As i got talking to the lady who is a relative of mine, not highly educated, but a smart, wise person, i realised that she had taken the situation in the right spirit, with a positive attitude.

They were lucky in that they had a fairly large Ancestoral house ,which  they had inherited and had absolute rights over.The first thing they did after the downsize was to rent out a couple of rooms in the house. They had to spend most of their hard earned savings to make the necessary alterations to manage this, but it was worth it ,as it provided them with a long term and steady income.

The lady of the house has made a note of every single  expenditure involved in running the household and she tries to cut down wherever she can .She was telling me that since they buy all their groceries like Rice, Dhal, Flour, Sugar, Tea etc; in bulk at the beginning of the month, she has to manage with that until the next month, since there was no extra money left. She has devised a simple method of saving. Every day when she measures out the required quantity of rice and dhal , she takes out a handful and puts it aside in seperate tins. She says the children eat first, since they need more food as they are growing whereas she and her husband can now afford to eat less and become healthier..As a result of this small saving she is able to buy lesser quantity for the next month and the left over money which is no doubt a small amount is being saved by her for an emergency. I thought that was a very wise move and an excellent way of manging their personal finances..

They have no maid, share all the jobs at home between themselves.I found them as happy as they were before , the couple looking trimmer and since they are all working together for the upkeep of the house , there is unity and a sense of togetherness , one feels the bond between them..I had gone to their place to console and sympathise with them, but came away feeling happy. I loved the positive attitude of the couple especially the lady..

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