Desperate Measures May Lead to Post-Recession Regret

In hard times, workers and homeowners may make rash decisions they'll later regret.

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I recently chatted with an economist about divorce. Specifically, he was concerned about the things that people do during recessions that they are bound to regret in the recovery--everything from selling a home at a major loss when there may have been a way to keep it, to leaving a relationship because of financial stresses related to the downturn. The conversation came to mind this morning when I read that the recession is prompting a growing number of women to enter the adult entertainment industry.

Even industry executives are reportedly concerned about the women making decisions out of desperation. An excerpt from the AP story:

Makers of adult films cautioned that women shouldn't rush into the decision to make adult movies without considering the effect on their lives. "Once you decide to be an adult actress, it impacts your relationship with everyone," said Steven Hirsch, co-chairman of adult film giant Vivid Entertainment Group. "Once you make an adult film, it never goes away."

The key to avoiding regretful choices (of any kind) now is strategy. When it comes to money, the goal is to craft a plan to meet minimal financial goals during the economic downturn. The recession is not going to last forever.


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