Strengthening Families During the Recession- Making Lemons into Lemonade

How the Economy Can Strengthen Relationships with Family and Friends

The current economic crisis is enough to make anyone anxious.  Reading the news, however, shows that some American families are making the best of their financial hardships by using them to strengthen their family bonds. It’s a glimmer of hope in a murky economic outlook that people are redefining their values and focusing on people- instead of possessions.

Moving Back in with the ‘Rents
In a CNN article published today, a 20-something and his newlywed wife were interviewed after finding unexpected joy by moving back in with his parents while trying to save money and avoid bankruptcy. And while many young adults might scoff at the idea of living under the same roof as their parents or in-laws, this Utah family illustrated that it can be done- and it can work.

The trick to making a successful move-back-in with your parents? Communication.  It’s important for everyone who will be living in the household to talk about their expectations and goals for the combined living situation. Make sure you have a time frame in mind- even if it’s broad- and that all family members are OK with it. This way, you don’t have to feel like you’ve overstayed your welcome- and your parents won’t feel that way either.  Another big conversation topic should be chores and finances.  Are you going to pay rent? How are you going to share housework? Sharing the load financially will help you feel you’ve earned your keep and performing housework will help everyone in the long run.*

Making Your Marriage Work
For years, experts have claimed that financial issues were the leading cause of divorce in our country. So, you can imagine the additional strain a marriage may endure after sprinkling our unemployment rate and credit crisis on top of the existing stressors. However, if you prefer to see the glass as half-full, you might be able to actually reinforce your marriage regardless of the economic state. 

Again, communication is key here. If you haven’t already sat down with your spouse to discuss how your finances may change because of the recession this is as good of a time as ever.  Look at where you are spending your money every month and see where you can cut back.  While typically this may be  a painful process- try to find the upside behind it all. For example, if you need to cut down on dining out expenses- start looking forward to cooking together at home.  Need to spend less on entertainment?  Opt for a movie rental on the couch instead of a theatre and relish in the time you get to spend alone.

Friendships
Many young people these days express their identity through possessions.  They connect with people who wear similar clothes, drive similar cars, jewelry, etc. However, during times like these, friendships built on materialistic social standards may begin to drift away while the true friends, who share common interests and goals, are left standing. 

Recently, a CNN reporter did an experiment where he tried to survive on food stamps for a month. One of the things he reported missing most was the time he spent with his friends eating lunch out or getting together for dinner after work. And while many people might be feeling a similar loss, there are plenty of ways to compensate.  Instead of dining out with friends- pick a night to gather for a casual dinner at some one’s house.  Chip in on groceries and have fun preparing meals and eating together. Instead of shopping with the gals or bellying up to the bar with your guy pals find something to do that you will all enjoy that doesn’t cost much (a basketball game, rent a move, etc.).

*HomeInsurance.com Note: Before joining households, contact your home insurance agent to see how new members of your household may affect your homeowners insurance policy.