The great depression started around 1929 and lasted for over ten years. The whole world felt the general downfall in their economic affairs. It started in the United States and gradually swung across other countries. To this day, the event is one to remember. So why is the great depression important today?
Thankfully, some schools teach students about the great depression. Students get to know more through assignments, essays and papers, and different other tools. You can also find samples and free research-related essays on the internet talking about the details of the event.
However, amidst everything, there are lessons to learn from this key event. Students should be able to take an argumentative perspective and relate it to the real world today. Over the next couple of points, we will discuss further with some examples of the relation to the great depression.
Diversify your skills
Students nowadays are one-sided. They hate the idea of diversifying. The popular saying goes that you should not put all your eggs in one basket. Most students live their life on one template, not willing to move to the next step. In the great depression, having multiple skills paid off for so many. You never know that extra-curricular would bring in money for you in the future.
Think Long Term
There are so many distractions in today’s world, and it causes so many to chase short-term gratification. As much as you want to have fun, don’t make irrational decisions that will impact you negatively in the future. There are temptations due to the persuasive nature of people, but you have to look beyond and think long-term.
Avoid Debts at all Cost
By all means necessary, avoid being in debt. Even if it means you will be broke for some moments, you should endure. In economic crises like the great depression, a significant number of people lived off the debts of others. When such crises strike, many individuals begin to remember those that are indebted to them and force them to pay back.
Socialize
Socialization is very important, and it is how people survived the great depression. They consulted their neighbors when in need, and they coexisted as one to live through the hard times. As a student, you see several faces each day of school; it won’t do you any harm to befriend a couple of them. Different writers all over history highlight this because, in times of need, you never know who would come to your rescue.
Prioritize your needs
It is quite difficult to tell between wants and needs these days. There are lots of things that are appealing to the eyes. You, as a student, should be able to tell the difference between your needs and wants. It is best that you prioritize your needs as number one before settling for your wants. This simple piece of advice would save you a lot of money.
Save and Invest more.
You shouldn’t consider yourself too young to save or invest. Saving and investment culture starts from an early age. It would be best if you kept some spare cash for the rainy days. It is one of the best great depression lessons.
Unforeseen circumstances may come and catch you off guard; those are days that your savings and investments will bail you out. Several people pulled through the great depression with residual money that they saved or invested earlier in their lives.
Be Open-minded
Open-mindedness pulled a lot of people through the great depression. We as humans tend to shun opportunities that we don’t have in mind even if it is presented on a platter of gold. Being open-minded would pull you through some difficult times. Help and assistance may come from anywhere; it could be when writing your research paper or assignments.
Conclusion
There are so many lessons learned from the great depression. Students that are smart enough to see the lessons presented and implement them in their life would see significant changes. If you find them too overwhelming, start using each of them gradually; it will pay off!
