How have you fared during this recession?  Were you an unfortunate victim of job cuts?  Are you deeper in debt?  Or have you emerged with a successful battle plan?  Whether or not you believe that we’re nearing the end, you’ve probably learned a few lessons about yourself and your money.  See if these are on your list.

• How to make a budget and stick to it. We were all forced to reevaluate our spending habits.  Even worse, we had to actually sit down and compare income vs. spending, one of the scariest processes in the known world.  But we learned that that was the most difficult part, and everything that came after was easier than expected.  Once you figure out how to spend within your limits, it almost becomes second nature.
• The difference between wants and needs.  That little budget plan caused us to look not only at the amount we were spending every month, but what we were spending it on.  Maybe you realized that you were spending $60 a month on designer coffee when you could brew it at home instead for $6 a month.  Or that family movie night was better spent at home with a movie from Netflix and some homemade popcorn.  Maybe you chose to repair some of your household items and possessions rather than buy new.
• How to pay off debt successfully. Unless you suffered a severe blow to your finances that was most likely out of your control, there’s a good chance you surprised yourself by climbing your way OUT of debt during the recession—never saw that one coming, did you?  You probably found some extra money you never knew you had through your budget and controlled spending, and you probably put that toward your debt.
• How to save money. Perhaps you put some of that extra money into a savings.  Did you open up your first savings account in the recession?  How about an IRA?  Did you finally see the advantages of a 401(k)?  We all learned the importance of having an emergency fund ready.  Even a measly $10 a week into a regular savings account can add up by time you need to dip into it.  One big trick to successfully saving that extra money is to stash it away immediately—don’t let yourself cut back in one place only to spend that money somewhere else instead.
• How to negotiate. We needed to cut back to save money, and nothing was safe.  You might have learned that you were paying way too much for your cell phone bill or internet service, so you either insisted on a new deal or found a new provider.  You learned to scrutinize all of your bills and statements to make sure that you weren’t overcharged, double-charged, or charged for any unnecessary or ludicrous fees.
• If you’re in the right profession. Maybe you came to a more profound realization.  If you lost your job or experienced severe cutbacks at work due to the recession, you were forced to reevaluate your priorities and your life situation as well.  Perhaps you took the opportunity to learn a new skill, sneak in some night classes, or search for a new job entirely.  The job market has been tough, but you went after a positive change anyway, and hopefully you were successful.

The next trick is to remember the lessons learned from this recession and keep them in place.  Once we’re completely on the other side, you can relax a little, but don’t use it as an excuse to go back to old habits.  There’s no telling what the future can bring—there can always be another recession.  Continue your positive money-management skills and you’ll be prepared!