I, along with a lot of people I know, have always been quite sensible with money; being a student compounds this and I only buy things I know I can afford. For example, when I'm at home I drive a Nissan Micra; not the best of cars, but certainly not the worst, and it's perfect for what I use it for. It is used as a "run around" in towns and cities, I don't normally need to drive on a motorway, or at high speeds. It is economical, averaging out at over 40mpg, and the maintenance bills are relatively low. By doing this I am not spending excessive amounts on my car. It seems other people have started thinking the same way now, with new car sales seeing the biggest drop since 1991.
But is the impact of the recession as bad as people are making out? There is one positive effect appearing from the doom and gloom - people are being forced to think about the sustainability of their actions.
People are realising that they can positively contribute to the world around them, as well as make a living, rather than buy into a life full of status symbols, at great cost, that mean nothing to anyone but themselves, it can indirectly benefit everybody else.
Fuel prices still remain high, so people are being more economical with their driving, by driving more cautiously and driving less, therefore reducing the amount of congestion, pollution etc. People are down grading their "Chelsea tractors" for smaller economical cars, scooters and bikes,or using public transport or walking/biking (a positive effect, as people will be getting healthy).
Another positive effect is that people are thinking about turning down heating or using less electricity, gas or other fuels, to save money, all contributing to sustainability. All new houses have a code which the developers must follow to make the houses as sustainable as possible within reason. Hopefully many of these will be available to first time buyers, as the housing market may become more accessible due to the recession.
Maybe facing the reality of the recession will make people reassess their priorities. And surely the fact that people are thinking more about their actions and consequences means something positive has come out of this crunch.
