Are you better off in the recession ?

[RMCF]

I would agree that, as long as you hang onto your job, you're more likely to be better off. Lower interest rates, supermarkets fighting for your custom, cheaper petrol etc etc.

Another possible side effect will be the reality check a lot of today's over indulged teenagers are likely to receive when they realise that designer gear, foreign holidays and such like are actually luxuries and not day to day necessities.

Why single out the teenagers?

Surely it was mostly stupid adults who got themselves into huge debts because they spent way beyond their means on luxury items like clothes, flat screen TVs, holidays, houses, furniture etc. Many things weren't needed, but they had to have them.

Perhaps we will all catch ourselves on now that this has happened and realise that we all don't need everything we see. I'm sort of glad in a way that the whole consumerism madness is going to be hit. I don't have a plasma, wear overly expensive clothes or drive the latest car. But I will still be cutting back on some things over the coming months just to play it safer. Perhaps we will see less snobbery on this country. I for one will be happy just to have a job in a 2009/2010, and hopefully see out the recession.

 

[Purple]

Generally speaking the more “Have not’s” there are in a country the better off the “Have’s” are, relatively. I don’t see this as a good thing (even if I was one of the haves).

 

[CGorman]

Hmm... im really beginning to like this recession

Me:
> I got a formal job offer doing exactly what I want to do, where I want to do it this week starting in Sept (after college)! The price of the commute (45min) has been reduced significantly due to petrol falling. And the stalling in consumer price inflation is great news for my initally low income. Also the cost of rent in the area im looking at has fallen dramatically.
> The type of car I plan to buy for my commute this summer just keeps falling in price, so I may be able to get a much better model than I would have gotten a year ago for much the same price.
> I have been looking into doing some traveling this Summer after exams. And the costs are much lower than a year or two ago regarding flights and accomodation.
> My expenditure on going out and socialising has plummeted in recent months as friends opt to call over for drinks to each others houses. I find this just as enjoyable, yet costs a fraction of the money. The "preception" of the sudden need to save has helped me save as my friends become more frugal.

Family:
> My parents are enjoying life more than ever, they are currently on a cut price break to Egypt and are already planning a raft of trips for 09 on the back of cheaper flights/currency differences and falling hotel prices
> Despite having a very well paying job (dad), my parents didnt buy into the property boom with a second home and are now in an excellent position to buy a property in the next few years yielding a solid yield.

It really is amazing how unevenly this recession is hitting people. By slashing the cost of living and waste this recession really is helping some people out. The core factor is job retainment. AFAIK the number of people in my course with a job for after college is now above 50%. Did I mention these people are all finance graduates! Which dismisses in my mind any comparision to the 1980's.

 

[Guest128]

Hmm... im really beginning to like this recession

Me:
> I got a formal job offer doing exactly what I want to do, where I want to do it this week starting in Sept (after college)! The price of the commute (45min) has been reduced significantly due to petrol falling. And the stalling in consumer price inflation is great news for my initally low income. Also the cost of rent in the area im looking at has fallen dramatically.
> The type of car I plan to buy for my commute this summer just keeps falling in price, so I may be able to get a much better model than I would have gotten a year ago for much the same price.
> I have been looking into doing some traveling this Summer after exams. And the costs are much lower than a year or two ago regarding flights and accomodation.
> My expenditure on going out and socialising has plummeted in recent months as friends opt to call over for drinks to each others houses. I find this just as enjoyable, yet costs a fraction of the money. The "preception" of the sudden need to save has helped me save as my friends become more frugal.

Family:
> My parents are enjoying life more than ever, they are currently on a cut price break to Egypt and are already planning a raft of trips for 09 on the back of cheaper flights/currency differences and falling hotel prices
> Despite having a very well paying job (dad), my parents didnt buy into the property boom with a second home and are now in an excellent position to buy a property in the next few years yielding a solid yield.

It really is amazing how unevenly this recession is hitting people. By slashing the cost of living and waste this recession really is helping some people out. The core factor is job retainment. AFAIK the number of people in my course with a job for after college is now above 50%. Did I mention these people are all finance graduates! Which dismisses in my mind any comparision to the 1980's.

Nobody likes a gloater

In the finance sector, thats kind of surprising. Solicitors seem to be hit really badly, I know quite a few recently fully qualified and laid off. I think IT may do OK as well since it has been in a downturn since 2000 and the number of people doing the courses has been steadily dropping so there isnt as much competition for jobs, compared with solicitors where they seem to be churned out 10 a penny these days....

Congrats on the job anyway, hope it works out.

 

[CGorman]

I'd agree with you on the legal sector. I do think that unlike in the 80's when it was very difficult accross the board, this time it is much more degree specfic when it comes to employment trends. Like I know in a related course (actuary) that employment figures are looking much worse than in my course. Or that in the main IT courses in my college, the recession simply has had no impact. I think those in arts degrees will find it very difficult, as will all but the very best of those in "hobby" degrees (film studies, music recording etc.)

As for a bit of gloating... well i've spent months worrying about getting a job, and now that it has happened, I just want to yell off the top of the roof with relief!

 

[Guest128]

I think those in arts degrees will find it very difficult, as will all but the very best of those in "hobby" degrees (film studies, music recording etc.)

We always considered Arts a hobby degree as well, 10 hours in lectures a week, sure thats a holiday **


** author realises that arts students put in far more hours in the library which IT/engineering people dont need to do (as their notes are usually enough) and he probably would fail Arts if he was forced to do it!!

 

[liaconn]

Why single out the teenagers?

Surely it was mostly stupid adults who got themselves into huge debts because they spent way beyond their means on luxury items like clothes, flat screen TVs, holidays, houses, furniture etc. Many things weren't needed, but they had to have them.

Perhaps we will all catch ourselves on now that this has happened and realise that we all don't need everything we see. I'm sort of glad in a way that the whole consumerism madness is going to be hit. I don't have a plasma, wear overly expensive clothes or drive the latest car. But I will still be cutting back on some things over the coming months just to play it safer. Perhaps we will see less snobbery on this country. I for one will be happy just to have a job in a 2009/2010, and hopefully see out the recession.

Fair points. I definitely agree that a lot of people will find that they can manage on a lot less. Mainly because they will no longer feel under pressure to keep up with the Joneses because the Jones will also be shopping in Lidl, driving 5 yr old cars and dressing their kids in outfits from Dunnes and Penneys.

 

[RMCF]

Fair points. I definitely agree that a lot of people will find that they can manage on a lot less. Mainly because they will no longer feel under pressure to keep up with the Joneses because the Jones will also be shopping in Lidl, driving 5 yr old cars and dressing their kids in outfits from Dunnes and Penneys.

Agree, but you see this was the logic that got people into heavy debt in the 1st place.

Why would shopping in these places be deemed unacceptable, even during the boom years? Although I do like the odd named item of clothing or sportsgear, I never got hung up on labels and would find it absolute madness to have paid €100 or more for a pair of jeans or a designer shirt. I am not that fashion orientated but know that others always had to have the labels, and often ridiculed those that bought 'cheaper' brands. The whole fashion industry is a scam of the highest order, and I would love nothing more to see the big labels come a cropper in the recession. Overcharging gullible customers is over, hopefully.

 

[liaconn]

Agree, but you see this was the logic that got people into heavy debt in the 1st place.

Why would shopping in these places be deemed unacceptable, even during the boom years? Although I do like the odd named item of clothing or sportsgear, I never got hung up on labels and would find it absolute madness to have paid €100 or more for a pair of jeans or a designer shirt. I am not that fashion orientated but know that others always had to have the labels, and often ridiculed those that bought 'cheaper' brands. The whole fashion industry is a scam of the highest order, and I would love nothing more to see the big labels come a cropper in the recession. Overcharging gullible customers is over, hopefully.

On that note, what won't you miss as a result of the recession? My list would include:

People thinking its okay to spend €800 on a handbag

SUVs bullying their way around urban roads (for which they were never intended)

'Drummies' wandering moodily around Dundrum shopping centre in their €200 Ugg boots, talking into their top of the range mobiles and calling anyone who doesn't live in Sth Co Dublin a 'scanger'.