January 18, 2010
How the Recession is Changing Us

A recent Census Bureau published Friday (1/15/10) states that the number of moms as sole breadwinners reached a record high. The number of stay-at-home dads also rose. The theory for this shift in our roles is due in part to how the recession has impacted certain industries, namely male dominated ones such as construction and manufacturing. But how else has this recession (called by many The Great Recession) effected us as an American society? Below are some other examples experts have reported:

Greater Flexibility in Roles: "The economic crisis is heavily affecting families, and what the latest data show is that gender roles are flexible and are going in the direction of egalitarian roles," said Pamela J. Smock, a sociology professor at the University of Michigan. The idea of parenting is starting to shift from being the sole responsibility of the mother to which ever parent’s schedule best fits when to pick the child up from day care.

Relationships: Marital bliss has suffered. Nearly one in three Americans 15 and older, or 31.2 percent, reported they had never been married, the highest level in a decade, (AP report 9/22/09.) Young people are also staying home longer and others are compressing their families into one household in order to save on expenses.

Spending Habits: Besides the shifts in roles and relationships, how we spend our money is probably what has changed the most. Some examples are:

1) More people are either car-pooling or taking the bus. This has also increased commute times for some.

2) People are realizing the cost of high balances on their credit cards and going to a more “cash mentality”. I know I started this about a year ago and it’s been the best thing for me.

3) Savings is increasing but not at the level it should based on other industrial nations.

4) For those who haven’t lost their jobs during this period, they have taken notice of their family members, neighbors and former peers who have and realize the same can happen to them. People are thinking twice about luxury items or items deemed “not necessary” before they spend.

2009 was a tough economic year. Hopefully economist will have a better indication of when this recessions will ease/end as quarterly reports are released. But instead of waiting to hear what Wall Street or the government has to report about economic conditions, make the decision to learn from this period. How can you spend less and save more? How can this impact my family positively by re-evaluating our roles? Take the lessons from this recession and use them to your advantage: watch your spending, increase your savings, and really think about your decisions before you make them. I know have!

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