I was going through some old files yesterday trying to come up with some new ideas and I came across an article from over a decade ago on surviving economic hard times. Well, as they say, "all things old are new again"!!!!!! Yep - different circumstances - same old story. (remember 2008/9)
Society goes through changes and cycles and if you pay attention JUST MAYBE you can learn a few things that will help you survive the NEXT CRISIS!!! (there will be a next - there always is)
Most people with low or moderate income are the ones that really see the hard times. Loss of jobs and income - gives you less to live on, changes lifestyles, and causes some people to panic.
Even if you don't consider yourself of low or moderate means, you can learn and prevent yourself from going down the drain in a spiral.
- FIRST - QUIT listening to corporations and politicians! Turn off your TV's. Corporations are trying their best to convince you that you can't live (well) without their products. You will be smarter, better liked, and better off to have their products. B.S.!!!!!!! Politicians are more than likely telling you what they THINK you want to hear. All it does is cause stress and more worry. Turn it off.
- Don't be a slave to a lender. Avoid debt as if it is the plaque!!!!!!! No loans. No charge cards (unless paying 100% off each month). No pay day loans. Pay off debt as quickly as you can. If you would experience a cut in pay - hopefully you can make it.
- STOP buying new stuff. Reduce, reuse, recycle, repair, make it over, make do or do without. Shop thrift and yard sales. Always look to buy "after market" first. If and only if you can't find what you need - do you buy new - and only after thinking long and hard on it!!!
- Be very frugal with utilities. They go up all the time, and the less you use the better.
- Grow some of your own food. Instead of flowers, plant veggies. Learn to can, and preserve in some way. Growing food is like growing money in your yard!
- SAVE something each and every month!!!!! $5, $10, $20 - something! If you are working and can utilize 401K (or similar) - do it. You will save and never miss the funds.
- Try to have AT MINIMUM 2 - 3 months (6 is better) worth of food and supplies on hand at all times. Prices go up and you need to buy when cheaper. Utilize sales, discounts, clearance, coupons, every option you can. Find a place to store extras - under beds, in closets, on shelves, under/behind the couch - just find space !! (seriously it could save your life)
- If you can find a way to make extra income - do it. Start a small side business. Mow lawns, sell veggies from garden, do landscaping for others, sew for others, bake for others, buy cheap and resale, teach classes, etc. DON'T fall for pyramid schemes!!!!! They never work out - make it a good and honest side venture
- If you have investments- don't touch them now! Hopefully you are far enough from needing them - to not bother them. Investments go up and down. You make an investment for your future - leave it alone! Don't panic and remove them. You may make the biggest mistake ever. Penalties and taxes can eat you alive!!!! Just hang on - the day will come - just be careful.
- Be careful about falling for the two income trap! Many say they need 2 incomes to survive and many may. BUT remember that comes with extra vehicle expenses, child care, extra clothes, food/lunches, insurance and on and on. It just MAY be cheaper for one to stay home and take care of things on that level and maybe even home school (important today).
- DON'T give in to despair and don't feel sorry for yourself. You aren't alone. Live more frugally and sustainably. Take your blessings where you can. It is freeing to get out of the consumer lifestyle. Your stuff is not you - it is time your realize that. Be a good person, do your best for you and your family and your community and the CRAP you have will mean nothing! You will see such a difference. Learn/develop a new self image.
Spending money, having new stuff, better stuff and more stuff than others doesn't make you a good person. Your heart and your understanding and your learning/teaching make you a better person.
Stop being a slave to corporations, credit cards and banks. They could care less if you can live well - they just want to your money.
REMEMBER - Living a slower lifestyle on less DOESN'T make you a second class citizen - BECAUSE you will have a first class worry free life!
Better times are ahead - it is just going to be bumpy for a while. We can all get through it and we can do it together. Make no hasty decisions - learn to live with less stress, risk and emotional turmoil in your life.
DON'T WORRY - BE HAPPY and go forward with gusto!!
So true, so true! Lots of good reminders here.
ReplyDeleteThanks! We all need to stay up on things.
DeleteDo you remember when the pandemic first hit and we were told that masks would not help when in reality they were trying to save the masks for health care workers? So, no, you can't always believe what they tell you.
ReplyDeleteMustache Money Man says you should treat debt like the flaming emergency that it is! And he is serious about that. I agree with you, we need to avoid it like the plague.
I don't think we are told the truth about much!
DeleteYes, if we avoid debt then we are more than half way there!
There will always be a new crisis to face...such is life. Try to be prepared!
ReplyDeleteYEP. One ends and another begins. It's always something - as Rosana Rosana Dana used to say!!!!!!! LOL
DeleteGood post, thanks!
ReplyDeleteThank you!!!!
DeleteGreat advice Cheryl,thankyou! I really needed to read this today. Wise and sensible as always. Blessings to you.
ReplyDeleteThanks! I hope it helped you in some way. Take care
DeleteCheryl, this is one of the best posts you've ever done.
ReplyDeleteWell thank you so much.
DeleteLive within your means ;-) No need to get into debt just to impress people with lots of stuff you don't need or can't afford. Stay safe!
ReplyDeleteAMEN. Within OR below your means! Trying to impress people does nothing to help you. More people need to understand.
DeleteSuch a good post, yes live within your means. Here in the UK, lockdown no 3, so many people working from home, people do not need so much 'stuff'. Sure things will get worse here before they start to improve. Our local Salvation Army, as well as giving our food parcels are giving our veg and flower seeds, such a great idea.
ReplyDeletePeople working from home has made a few people more aware that they really do need less. There will always be some kind of emergency or event whether in a private life or the world.
DeleteLOVE that idea. How neat that they are giving seeds. It is a great idea!!! Helping folks be more self sufficient.
Thank you dear
ReplyDeleteBravo!! This is a great post!!
ReplyDeleteThank you so much!
DeleteI am always trying to find ways to not buy. I just made a bunch of 'kleenex' from old pieces of flannel. The tissues today are expensive and very hard on the nose. But flannel washes beautifully and since I am the only one in the house it really doesn't matter. Just another way to stop buying and never be without. Your ideas are great and this is the time to be self sufficient in as many ways as possible. We have lived through many trials and I consider this one a big trial. We will survive and we have wonderful instincts. USE them!! Much safer than listening to others.
ReplyDeleteAmen. We need to be smart and go go with instincts! Some tests are bigger than others.
DeleteI use old t-shirts to cut up for hankies. They are super soft and work just fine. Flannel would be even softer. I can't remember the last time I bought a box of Kleenex.
Excellent post! It's very true that we cannot believe or trust the folks who have a stake in what we buy.
ReplyDeleteNo we can't. They will always try to convince us.
DeleteThanks