The economic recession that we are currently recovering from, affected my family directly. My dad is a realtor so once people stop buying houses, he stops making money. The housing market is the blueprint to how the economy is performing, due to the high opportunity cost of homes. The recession began by banks in the states offering unforgivable loans to unqualified home buyers. As soon as the economy took a downturn my family started whipping out the coupons. Although my dad had money saved up for a time like this, it was still important for us as a family to establish what was deemed to be an essential “need” rather than an essential “want.” For a teenage boy this concept is hard to grasp; however, by the end of the recession I fully understood the difference. It has made me much more socially aware and empathetic towards those who live on a lower income. As much as the recession was a downfall for not only my family but for most families, it taught me to always be prepared for the bad times and that it is quite possible to live life to the fullest without having a bank full of cash.