The document discusses some of the positive changes that have resulted from the financial crisis and recession. Specifically, it outlines increased financial transparency, awareness, and a focus on family, health, needs over wants, and going green to save money. People are spending more time with family, cooking at home, giving up expensive habits like smoking, learning to bargain, and recycling to reduce costs during challenging economic times.

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3.  The positive changes that have risen from
the current financial crisis, and
 A few tips on how to surf the recession wave
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4. Our current recession has been going long and
strong since December 2007.
Depending on which financial commentator or expert you
ask, they all name different causes, but they all pretty much
come down to the following:
•Burst of the housing bubble – State of California
•Deregulation of credit defaults - Subprime mortgages
•Fraud – Madoff Investments Securities, AIG, Fannie Mae
•Negative growth in GDP – decline in consumer spending
•Decline in bank deposits, savings, reserves - Bear Stearns
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5.  Transparency:
The government put in place requirements and regulations for
financial institutions and loan companies to follow so that all
transactions are reported under a single standardized accounting
procedure.
Institutions are required to prove that they have sufficient assets to
meet their contractual obligations through reserve requirements,
capital requirements and other limits of leverage.
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6.  Financial awareness:
Spending money carelessly is a thing of the past! Simply because
you have money today, does not mean that you will tomorrow.
People are questioning fees, prices and shopping around for the
lower, more appealing deals financial institutions and retailers have
to offer.
People understand the importance of teaching financial
responsibility and accountability at a young age. Some schools
have begun to add finance classes to their curriculums, making it
mandatory that high school students learn at least the basics of
maintaining a budget.
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7.  Family:
Now that we are forced to cut back expenses and make wiser purchases,
we have remembered that spending time with the family is not only as fun
as a night out on the town, but crucial for building trust and teaching good
habits; not to mention free.
Cooking your family a balanced meal instead of going out to eat is not
only less expensive for your budget, but healthier for those growing
bodies.
Camping trips, road trips and remodeling the home have become the new
and awaited vacation. No more overspending on travel and fighting about
the location, NOW it is all about spending time with the ones you love, in
the place that you built together, and doing the things everyone
enjoys.
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8.  Health:
As the saying goes, “if you don’t have your health, you don’t have nothing”
No more eating fast food everyday and buying coffee every morning.
We’ve realized that eating out is not only expensive but detrimental to
one’s health.
Making your breakfast and lunch at home and sharing recipes with
your coworkers is in. Buying a greasy, salty lunch is out.
Walking half an hour at lunch or walking your dog after work has replace
expensive gym memberships.
Smoking and drinking is expensive. More and more people are giving up
their habits and replacing them with sports, volunteer
work and family activities.
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9.  Wants vs. Needs:
Now that we don’t have the spending allowance that we once did, we
have become better at differentiating what we Want vs. what we Need.
We are learning once again to prioritize our finances. What is more
important, having a place to live or buying a brand new pair of shoes?
Learning how to bargain and settle for things that may not necessarily be
the brand that we were accustomed to, but serve the same purpose for
less money is becoming wide spread.
Fashion will always be fun, but use is the new fashion.
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10.  Going green is in:
The environment and the impact we’ve had in our world has always been important.
However, because of the lack of extra income and the rising cost in utilities and
natural resources, being green to save some green has become more important
than ever.
Recycling has taken a whole new different meaning. We no longer just recycle
bottles and cans, we recycle clothing, furniture, and even cars by buying used and
or trading on internet web-sites such as craigslist and freecycle.com
Even the government is encouraging us to recycle and conserve energy. Programs
such as the Cash for Clunkers program where people get a rebate of up to $4,500
for trading in their old, fuel inefficient vehicle to buy a new fuel efficient one is not
only serving its purpose, but surpassing expectations.
Home owners can obtain rebates for using recycled products to remodel their
homes, for replacing their grass with water efficient landscaping
and for purchasing energy efficient appliances and bathroom fixtures.
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11.  Don’t spend what you don’t have
 Learn to differentiate - Wants vs. Needs
 Credit cards are not money, they are debt
 A home is not a short term investment
 Money that is easily made, is easily lost
 Saving is key – take control of your finances
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