The Effect that the economy has today
It is no secret that our economy today has gone down the pooper. You turn on the TV or read the newspaper and you hear about homes being foreclosed and families living on the streets and stories of how people are getting by. It is so sad to hear and it is taking a toll on a lot of areas.
For instance, less and less people are able to afford to go to college. While loans made it possible for students who had trouble paying in the past, it is harder and harder now to come by them. It is also harder for students who now have to work or even work another job while attending classes and many of them (more now than ever) are dropping out to work full time to support themselves or help their families. And the students who do finish and receive their degrees are worried constantly about getting jobs and being able to afford things (rent, food, student loans) once they graduate. Many of my friends who are older and graduating now with great degrees are back living at home working random jobs until they find something in their field and that really worries me.
Another area that I recently read about was franchising. People were buying franchise chains like it was their job (so to say) a few years ago. Everyone and their mom had a subway and now people can't even afford to pay their own rent or mortgage. The books being written went from “how to franchise” to “how to save money” or even “how to survive in today's economy”. People can't even afford to buy the self help books anymore.
This economy is affecting everyone. Adults and parents are feeling the pressure of working just as hard and maybe even harder as before but reaping less of the benefits and feeling tired and worried and stressed about money constantly and children are feeling the stress of their parents feeling that way.
So what can we do about it? All we can do I guess is be cautious with our money, and save whenever we get the chance and just know that we are all in this together. Not just one person or one family is suffering, everyone is feeling the brunt of this economical downfall and we just need to stick together and ride it out.