What Does the Word "Recession" Mean to You? (Answer for a Chance to Win $10!)

To me the recession makes me uncomfortable which in turn inspires me to make the changes in my life that I've always been meaning to do but were just too darn comfortable in my life to do.

I once spoke to a SBA counselor who said that most businesses are started in a recession. That's because when people are comfortable they are less likely to do anything but when their back is against the wall, they'll go out and make things happen. To me, that's what the recession is all about. Forcing people to make things happen.

The recession means I am now at a lower paying job, and cannot afford an air conditioner this summer. It also means that we are scrimping heavily to be able to afford a furnace by winter time.

That we have to more creative in our summer plans!

We have come up with a list of 100 fun, frugal things to do this summer! When we finish an activity, we mark it with a sparkly star sticker!

I didn't want our girls to feel their summer was not exciting because they won't be traveling to Disney World or spending weekends at the shore!

We are having a blast filling our days with inexpensive crafts, recipes and games!

I automatically think of the textbook definition of a recession: when unemployment rises and GDP falls for at least two consecutive quarters.

In practice, it means that this summer I am taking summer classes instead of working full time.

for me, this recession has meant seeing a lot more homes in my area up for sale and empty buildings where businesses that were really useful to the neighborhood used to be. now they stand empty, no one is paying rent on them to the building's owners, and the neighborhood/ community is suffering.

as a grad student for the past 8 years, i've had a lot of experience living on very low wages, so that's not as much of an issue. but it means my school can no longer support me in finishing up my phd wok, so i need to take out more student loans for the next academic year. that really sucks, as the employment prospects for after graduation aren't looking so good.

A agree that a recession means financial worry: more worry for some than others, but sprinkled liberally throughout the country.

To me, it means mind games and lost confidence. I remember from my econ classes how so much is based on people's perception of the markets and economy. Once people hear the word "recession," things just get worse. Even people who have saved and aren't particularly affected by recent events start to become paranoid. A recession calls for carefully considered decisions, a good understanding of the facts, and a well-informed public and media.

In the long and glorious tradition of Franklin Roosevelt.

We started this recession with one income down for the count, but luckily it came with an acceptable severance package.

Our total household income between the two of us is now about 15% higher than before; we've paid off almost all of our debt, and we bought a house. All of this would have been unthinkable before this recession.

How did this happen? We went through our own personal recession, and we learned how to live. When the real recession hit, we were well equipped to survive and thrive. We already had the skills that many other people had to suddenly acquire. We can see the opportunities, and we shared and exchanged tips with our friends and family, who are also (mostly) weathering the storm nicely.

Recession means a little bit of money-guilt, because I'm doing better financially than I ever have in my life. My sister, meanwhile (who for the longest time was better off than me), is having a harder time of it due to the economy and the nature of her household's income.

I also agree with Emily that it bugs a little how the media plays on people's fears, even though many people (maybe even the majority?) are not directly affected through job loss or reduced income.

I most strongly equate a recession with jobs disappearing.

My fiance graduated with his bachelor's this May and the job hunt is awful, especially in mid-michigan.

To me the word "recession" means increased traffic from student who are applying for financial aid. I am a financial aid counselor at a technical college and we have seen a dramatic rise (roughly 34%) over this same time last year, in the number of FAFSA applications. On a daily basis I deal with student who have been laid off or had their hours reduced due to the "recession". I have also seen first hand the incredible numbers of people who are flocking to technical schools as their savior to re-tool and equip themselves for a career change as a result of job loss or reduced income as a direct result on our "recession". Unfortunately for me, "recession" means job security.

My family has been fortunate so far, we both have good stable jobs. However, many people I know (in their mid 20s) have been laid off and unable to find a job, making the "recession" real to me.
In our house, it encourages my husband to curtail his spending and for us to re-evaluate our finances to be more frugal. It also reduces the "shame factor" of eating bagged lunches, using coupons religiously and looking for the best deal as others are also feeling the pinch.

The recession around here means cheaper purchases and vacations; I'm luckily not personally affected much yet and have been able to save. I sold my house for a small loss but at least it's sold. I like that people are slowing down and thinking about their spending and saving; that switch from mass consumption to thoughtful use of resources is long overdue.

Recession to me means we've been spending too much and not saving enough money.

recession means going without. even more than before.

i'm with andrew (10) and byron (19), too.

For me, "recession" means that my husband and I have put our plans to start a family on hold. We're stranded on the wrong side of the country from our own families, and in this depressed job market, it looks like it's going to be close to impossible for him to find a job back home.

I'm going to be a bit cynical. "Recession" in my neck of upper-mid to affluent suburbia means that my snotty neighbors are shocked to find out that not only is Dunkin Donuts coffee cheaper than Starbucks but it tastes just as good- gasp! It also means the housewives are flocking to Coach since their bags cost "only" $300 vs the $1300 Louis Vuitton.

To me, recession means taking a "recess" from a materialistic, got-to-have-more national attitude. It means taking stock of what is really important and necessary to my quality of life. It means learning that less is more. It means watching out for others, quietly helping and expanding the definition of who is "family." It means an opportunity, born of painful and difficult circumstances to exceed survival into thriving.

Recession makes people understand what ethical and moral financial responsibility is all about. It allows us time to focus our energies on what is important in life and take a real hard look at what are true needs and wants.

For us, this recession was a blessing and an eye opener. My husband is now an talented unemployed Architect and I am an talented underemployed Web Developer. Why was it a blessing? Well, we now understand the importance of family and how easily people can be sidetracked into the non-important things in life that take time away from those true blessings of life. Only when you live without cable do you remember what it was like to get outside and feel the grass between your toes.

Recession to me is pretty simple, getting back to basics and removing the "fluff" that was never needed from your life and society in general when times were better.

Whether this is happening now is a debate, I think we would be in a much better situation without government propping up companies that should have failed therefore interfering with this natural process. Now we are prolonging the economic recovery and taking on a ton of debt to help these inferior companies.

when my husband (a scientist) loses his job, gets his MBA, can't find a job as a scientist/MBA graduate, gets a job back as a scientist and 2 weeks later I lose my job (in finance).

Job losses hit all levels, all industries and a broader breadth of people than ever before.

I heard that in grad-school too.

The recession to me means there's little money coming in to a great deal of people. They in turn spend less than they usually do. In turn less money goes out to everyone and thusly less money comes in to a great deal of people. A lot of people spend less so a lot of people earn less.

Recession to me means that there is a substantial rise in unemployment. I work in Law Enforcement, which also means that I sometimes work longer hours, with little or no increase of pay due to budget constraints at the same time.

think twice [at least!] before spending once.

Recession means saving money, but unwilling.