Are you worried about our economy?
I have to confess something. I don’t worry about a recession. I watch the bad economic news with interest, but I can’t say it keeps me up at night.
It’s not that I think I’m immune to being hurt by the economic roller coaster we’re on. My husband works for a listener supported radio station. I have a volatile income as a self-employed blogger. We have a new house, that’s a bit of a stretch on our budget, and we live in a somewhat expensive area of the country.
Yes, there’s a lot that could go wrong, but I don’t worry about it.
It’s not that I have any illusions that this economic mess will blow over in a couple of weeks. It’s not that I don’t think there’s a possibility things could get worse before they get better. It’s that worrying won’t do me any good.
This is a lesson I learned last year when my husband lost his job. Twice. Instead of worrying, I focus on two things.
Take Control Where Possible
Are you afraid of job loss? Cut your budget now, and put as much money into savings as you can. If you lose your job, you’ll be glad for the extra savings. If you don’t you’re no worse off.
Look into programs that can help you, if you lose your income. What are the requirements for your state sponsored insurance program? Food stamps? Do you know of a low cost health clinic?
You may never have to use these services, but you will feel better, knowing they are out there.
Update your resume. Let your friends know you might be looking for a job. See what’s out there. By being proactive before you lose your job, you’ll be better prepared in the event it actually happens.
Set goals for reducing your budget. Try to reduce your grocery spending by $10 a week. Make some tweaks in your life to get the electric bill down.
There are a lot of things that are in your control. By focusing on those things, the stuff that you can’t control control isn’t quite as scary.
Realize That This Too Shall Pass
I don’t deny that we may be in for some really hard times. How bad the current economic situation gets remains to be seen. But economies tend to go in cycles.
Though life may get really hard for a while, now is not forever. That thought kept me going last year when we didn’t know when we would receive another paycheck.
This economic crisis will not last forever. Eventually we’ll rebound and life will go on. Until then, do what you can in your own life. Being proactive is always better than being reactive.
If you are looking for specific things you can do in light of this economic crisis, see the following posts:
- When Times are Tight: 168 Ways to Make Your Dollar Stretch
- My Husband Lost His Job
- 75 Frugal Hacks for Your Home
How are you feeling about the economic crisis? Are you worried? How do you deal with it?
Photo by Daquella manera.
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Your post reminds me of the Serenity Prayer, and its reminder to accept the things I cannot change while granting the courage to change the things I can. It’s the courage to know the difference that is the most important part. Not much we can do about the global economy, but we can control our own households and live as better stewards of our resources. Great post!
I completely agree with your post. Remember, you and I are the keys to solving this economic crisis. Take control of your own situation. Be aggressive!Be passionate about being frugal…..It’s an opportunityQ
Great post! I can control much of what happens to me on a personal basis, if I cannot control the nation’s economy. Helplessness, worry, anxiety and fear contaminate, they do not contribute to solving problems. I am glad I have adopted a frugal lifestyle; I have my parents and grandparents to thank for the lessons they shared.
I agree that there’s no sense in worrying. All any of us can really do is prepare for the worst and hope for the best. However, I am a worrier by nature. I can’t stop myself from worrying about things, espcially money, even though I know worrying won’t help. I come my it naturally. My mom and grandma are worriers too! :)
Great post! I recently heard some fantastic advice about worry. If you worry now about something that hasn’t happened, you will either have to worry twice if it does happen, or your will worry needlessly if it doesn’t.
Preparation is one thing, worry is another!
Strive to become debt-free. If this economy doesn’t underscore the need for that, I don’t know what will. I’ve got a bare bones emergency budget of under $400/month, and knowing that let’s me sleep at night – debt free and worry free.
Tighten up your own money leaks and then pass your frugal tips on to your family and neighbors. By doing so, you reinforce your own frugalness, and hopefully help them in the process. (if they want to be helped)
Maybe someday frugalness will catch on and be the new “cool” ? And we can say, “We were frugal when frugal wasn’t cool!” haha!
Learn something frugal that’s new to you. As for me, I am trying to improve my canning skills which are almost non-existant, altho I have all the necessary equipment. Mostly I freeze and dehydrate stuff… I need to can more tho! Freezer’s full!
Oh, and something I just learned this weekend, the local extension offices sometimes loan out (free) canners and dehydrators, for those that don’t have them… Saves you the expense of buying them if you are just getting started!
Good post Lynnae, with some good advice – but of course, I worry! But the worry always tends to make me proactive.
I am debt free, but my income is so low that debt isn’t a concern – living month to month is. My health and disabilities don’t allow me to work more than part-time so there’s not a lot I can do to increase my income.
I became concerned about the economy much earlier this year, so when I received my income tax refund I purchased a half dozen grains plus rice in bulk from Bob’s Red Mill. I planned a garden with the help of my teenagers.
As the year progressed, we enjoyed the garden’s bounty. Along with fruits bought at “pick-your-own” farms, I canned and/or froze veggies from our garden.
And worry led to my researching ways to cut costs on heating during the winter. We have baseboard heat and although my bills last winter were over $300 a month, we were always cold. This year I’m making “window quilts” and have invested in several space heaters and firewood.
Worry about my health led to my purchasing several monitors necessary to my care should I lose my health coverage – which I lost a month ago. It also led to research on access to the one medication (expensive) that I rely on for a chronic illness, and access to alternative treatment. There is no state health coverage available at this time in Oregon, and treatment is vital if I’m to be able to continue working at all. I’ve applied for free medication and found a free acupuncture clinic.
I have an advantage because I know many of the resources available. I work for a very small nonprofit (www.phpnw.org) as a case manager/advocate for adults with disabilities and extreme income challenges.
If you’re in Oregon, you can go to http://www.oregonhelps.org to discover what services, etc. you may qualify for. For women’s and children’s services you can try http://www.oregonsafenet.org. No matter which state you’re in, for resources you should be able contact your state 211 service – if dialing “211″ doesn’t work then look it up online.
Above all, be as self-reliant as you can. Don’t count on services being available to you. If government services were as easy to access as most people believe then I would be looking for a new job and poverty wouldn’t be the huge issue that it is for my clients!
If you’re a worrier, like me, then counter it by being proactive. Look for answers, ideas, resources. Turn what could be a negative (worry)into a positive (action).
Blessings!
Cynthia
Lynnae,
great post – I agree, I generally don’t worry too much myself. I have seen God come through for me in some really tough times and difficult circumstances. And if he came through then, He will come through now, or no matter what happens. He really is faithful!
I’m also one of those people who don’t worry (much) about the current recession. It’s a market correction to weed out the greedy and careless. As you said, we all need to continue being frugal and budget accordingly. We can’t continue to spend with what we don’t have. As long as we all exercise common sense, we’ll be OK.
Thanks for the great article.
I put together an extensive list of ways to save and live frugally during these challenging times. There are 1000 tips all together! There’s something for everyone on that list!
http://debtfreedowds.wordpress.....-last-one/
I also pray, a lot, with my husband and continue to give.
It’s that worrying won’t do me any good.
That is the best thing I’ve read today! I wholeheartedly agree. We all talk about having a 6 month emergency fund, and this is why. I guess I feel like if something horrible happens, I’ve got that fund as back up. Nothing happens by worrying, so why do it?
@Cynthia – I really enjoyed your proactive aggressive stance on this :) You go Girl!
I totally agree with you.
When I was remodeling/adding to this tiny house, I told the contractor that everything needed to be handicapped accessible, as much as possible. As things had to be rebuilt anyway, I might as well do it once and be done with it. So my doors are wide, my kitchen has a large hallway thru the middle of it, the shower will just need a triangle wedge added to it for a wheelchair or walker, (no height to it and a shower curtain not a door), toilets are high and have handbars, and my front porch will be easily converted to a ramp when the time comes. My woodstove is elevated on a platform for ease in loading/tending to, as well as keeping the grandkids from running into it. While I may never need those accommodations, they are in place if I should, as this is the house I plan to retire in and live in as long as I am able.
And thank you for the links!
Great post Lynnae!
I’m so glad our God is all-sufficient and we don’t have to worry about what the government/and or economy is or isn’t doing. I struggle sometimes with worry since we’re self-employed, but it always helps to go back and read the scriptures that assures us that God will meet our needs no matter our circumstances if we will be faithful to Him!
Blessings!
The only thing we can really control is our own attitude anyway! Control that and you control your life.
I am concerned enough to be looking into all the areas we can cut back on. My dh was out of work for a year once and the Lord graciously provided for us. We lived on severance, our savings, and the help from family and friends, but I would rather not have to do it again.
I am currently re-examining all the things I did during that time that helped us to survive and thrive. My frugal planning makes me feel like I am in control (even though I know I am not), and I feel like I’m “doing” something.
Good post. We must be on similar wavelengths, because I wrote a post earlier this week about trying to relax during this “crisis.”
My premise is essentially: Most people reading frugal blogs are already ahead of the game. They were already starting to cut back and pay down debt before the, uh, stuff hit the fan.
And my advice was similar to yours (though I focused more on actually finding ways to physically relax, in addition to mentally): They have to remember they’re already taking steps, they need to review any more frugal hacks they want to try (and instigate them one at a time) and just repeat these things like a financial rosary. Sometimes, just remembering how much you’ve already done can be immensely soothing!
Granted, my husband and I are already pretty far down on the ladder. So, as I also recently pointed out, we don’t have far to fall. He’s on unemployment and I’m on disability and just starting to work part-time. I think that most people who are living frugally aren’t going to see big changes — especially the working poor. It’s just that the rest of the country is finally being forced down to our level. It’s shocking for them, normal for us.
Lynnae
I agree, this too will pass. And it is what it is. There is plenty of opportunity to flourish, regardless of the “economic climate”
Being in control of one’s situation is good advice. Understanding where you are is a good starting point.
I like your blog
F
Surprisingly, I am getting asked a LOT of questions about frugal gardening from friends and family who have been receiving the bounty of my surplus from my teeny tiny garden!
9 out of 10 are planning their own gardens next year :)
This too shall pass. Couldn’t of said it any better.
You are so right. A positive view always helps. Still it is too easy to look at the what Frugal Dad calls the “woe is me” angle and get even more depressed.
Reading your post has reminded me yet again about not allowing circumstances to control us, but to work on controlling our circumstances.