Financial Planning

How I learned to love the recession

Smiley Loyal readers know we're always looking for bits of optimistic wisdom these days. And what's wrong with that? Yeah, times are tough. There's no sense in crying over it. Buck up, deal with it and position yourself to take advantage of the better times that undoubtedly lie ahead.

With that in mind, we give you our latest discovery of rose-colored wisdom, courtesy of Kate O'Sullivan at CFO magazine. It's called "And Now, The Good News ..." It's a list of 10 reasons why even the most downhearted of souls should look on the bright side today. Among them:

  • The savings rate should increase. You bet it should. No one's spending any money nowadays. They must be saving it, right? That's terrific news for the financial literacy evangelists among us who have been praying for that very thing.
  • Cheap is cool. High-end shopping is out, discount shopping is in ... which means I'm finally on the cutting edge!
  • Finance talent is easier to find. After years of heading straight to Wall Street, top students now are drawn to the relative security of corporate finance. Turnover should decrease as well because, let's face it, who wants to test the free-agent employment market these days?
  • CFOs (and, often by extension, CPAs) have never been more important. CEOs are turning to their finance teams "to find out what to do next," O'Sullivan writes. "CFOs and their finance teams are modeling both best-case and doomsday scenarios for their bosses and boards and, in many cases, they are the ones making the call on layoffs, office closures, or other major changes."

Read the rest of O'Sullivan's list here, then tell us: What has you looking on the bright side these days?


Bill Sheridan