I was reading a recent CNNMoney.com article titled "How the Crisis is Changing You." According to reporter Dan Kadlec, "frugality and safety are in; bling and plastic are out. The economic meltdown has sparked a major shift in our financial values. And one that's likely to last."

Sure enough, 89% of survey respondents said that they have changed how they manage their money since before the recession began - and they plan to keep the change in the days ahead. Consumer behavior experts are saying that this time in financial history will be transformational; much like the Great Depression shaped a generation of Americans.

Traumatic experiences have a way of revolutionizing the way we look at our lives. Relationships and personal growth permanently replace material gains in the financial pecking order.

Picture a child standing next to his mother in a kitchen. The child comes close to touching the stove top, but his mother stops him: "No, no, no - you'll get burned!" Yet, because this child has never actually been burned, he has no understanding of the result of touching a hot stove. So he does it again and - SINGE! - burns his hand. Now he knows.

Credit - in the form of plastic, home equity loans, home equity lines of credit, auto loans, and personal loans - has been so easy to get for years. Living outside of our means has been a way of life until recently. The national savings rate just turned positive in past few months. It took burning our hand - the one with the credit card in it - to drive us back to a place where saving money for emergencies and purchases, valuing people over more stuff, and breaking the chains of consumer debt all make sense.

One of the positive outcomes of the Great Depression was the generation of young people who grew into disciplined financial managers. Their entire system of values was stripped bare and reconstructed with The Roaring '20s behind them and Hoovervilles ahead.

How has your system of values changed in the last two years? Perhaps that transformation is the silver lining of our current "crisis."

Derek Sisterhen is a financial coach with Lukas Coaching. He helps individuals and couples establish goals for their lives and their money, then creates a plan for accomplishing them. His clients have been able to eliminate their debt in 24 months or less without any gimmicks or complex products. In fact, he doesn't even sell investments or insurance so his clients' best interests always remain at the forefront. Visit http://www.lukascoaching.com to reach Derek and for great resources.

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