Sunday, October 12, 2008

On my soapbox: The Economy

While we all watch the stock market plummet on a daily basis, it's so easy to get wrapped up in the nation-wide panic. Particularly when you have the DRAMA of it broadcasted practically all day long, every day. How many times do we have to hear the words "worst since the Great Depression" or "recession" before we start to feel the weight of it on our shoulders? It seems to me that this 24/7 shoveling of crap in our faces is definitely having it's effect on people. I have several friends who are panic stricken over what will transpire over the coming years. And while I understand their worry and concern, I can't seem to get myself in such a frenzied state.

Maybe it's because, unlike many other Americans, Lance and I live in a house that we can actually afford. When everyone else is living the "American dream", which apparently includes upside down mortgages and buying everything on credit, we've been buckling down. Budgeting and scrimping. I have to admit that sometimes I would go to my friends' houses and think to myself how nice it would be to live in a brand new house. In a new development with new decor and which didn't have an embarrassing 1970's bathroom with gold-flecked mirrors and chandeliers. We even talked about moving into a new house in a better neighborhood before I quit my job. But we agreed that what we wanted most was for me to be able to be at home with the kids, and that sacrifices were necessary. Thank God that we made that decision. Because, I can see how easily it would have been for us to get in over our heads. Trying to keep up with America.

But right now? As those people are worried about making their mortgages, Lance and I are not at all worried about our home, which is still valued much more than what we owe on it. We can focus on the other stuff - cutting corners more at the grocery store as costs increase, making sure we don't overspend in other areas of the budget; but overall, I know we'll be just fine.

While I realize that it may sound callous of me to say this, I am almost looking forward to this "recession", which I see as a correction of the overall economy to get back to what is true. I guess you could even say that I see it as the great equalizer. And I am feeling much more comfortable in my skin. And in my 1960's home that still needs lots of work. Because we can afford it. I'm looking forward seeing people put an emphasis on quality of being, rather than quantity of possessions.

My main challenge right now is to look within to see what I can give. Because there are a lot of people who haven't been nearly as blessed as we have and who where already living barely paycheck to paycheck. They are going to get hit hard by the rising prices of groceries and fuel. We don't have the excess money that we had when I was working, but we certainly have more than we absolutely need. And sometimes, what you need is to help someone else who's in trouble. Even when you don't feel like you can afford to. This is what pulls people together and makes communities one. I'm looking forward to, what I consider, getting back to basics.

I guess that makes me old fashioned? Just picture me; I'm like an 80 year old woman in my "new" 1960's house. If I start sewing our clothes, please be concerned.

3 comments:

Lara said...

Word

Kimberly Lloyd said...

Craig and I bought our house while the bubble was still rising. When we went to get our mortgage, we said, "We want to be approved for $X." We didn't ask them what we qualified for -- we figured out what we could afford and specifically asked for that.

Had we waited one more year, though, we probably would have gotten a sweet deal as the bubble burst. :) Still, we like where we live, and the community can't be doing too badly given how much they re-evaluated our house this year. :)

Anonymous said...

I hear ya Sista!

We watched several people buy expensive houses and we kept thinking how nice it would be to have a nice new house. Instead, we pinched our pennies and paid off all the debt we could with our little tiny mortgage, paying cash for everything.

Now, with the bubble burst, we found a beautiful house for a sweet, sweet deal. We can comfortably afford our home and are not depending on our credit.

What sucks is watching our investments plummet to nothing.

Nonetheless, it makes you buy what you really need and skip those things you don't.