tough times.

I think it’s fair to say that everyone has in some way been impacted by the slowing economy: shrinking 401(k)s, home foreclosures, company layoffs, retiring parents, etc.  For the first time EVER, I actually feel relieved that I don’t own a home. My heart goes out to all of those people who have been laid off and can’t find jobs. They have no money to pay their mortgages and no hope for selling their homes. They must be terrified – I’m terrified for them! I have a friend who is being “urged” to relocate because her Seattle office is performing poorly. With a heavy heart – she has accepted. She’ll be leaving her husband, home and dog until times are better.

All of this has made me think about my own spending, savings, and financial plan (or lack thereof). I’m not completely irresponsible but I certainly could be more disciplined.  A few ideas I’ve brainstormed (none of which I’m committing to yet – I need to think about it more) : get rid of cable; be more disciplined about bringing a lunch to work; stop buying mochas; better educate myself on personal finances and develop a plan for me and Derek; track my expenditures over 4 months and analyze where I’m spending my money and where I can cut back; save more.

These are tough times. We all need to hope for the best and prepare for the worst.

2 Responses to “tough times.”

  1. 1 dre
    October 15, 2008 at 7:40 am

    I completely agree with your comments. Saving money sounds like a total drag, but its not as hard as people think… Maybe just because im a cheap ass, but a simple thing as taking your lunch to work or cutting back on coffee can save more than people think.

  2. October 15, 2008 at 8:53 am

    I am really super thrifty with Joel and I’s income. It was huge change from my ‘just charge it’ lifestyle in college.

    It’s definitely intimidating owning a home but I just keep reminding myself that it’s a temporary economic downturn and times will get better. We definitely follow a super tight budget to allow for savings and whatnot – but we did that before we bought the house and before the economy went under. It’s not so bad – even just cutting shopping trips down to once a week helps TREMENDOUSLY!

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