As I continue to hear and see housing prices and stocks tumble lower and lower, more bank mergers, more upcoming retail store closures, reports of poor Christmas Holiday sales, and stories of how people are struggling with difficulty through this depressed economy; I cannot help but stop and consider what else I can do to prepare for even harsher economic climates.
Obviously, it is time to dispense with anything that is not considered a necessity. It means no new purchases, if we can survive with what we currently have. It means buying the essentials for groceries, and letting go of nice extras. It means likely putting off vacations; and postponing house projects. It means rethinking going out for meals and what we do when we get together with friends. It means to stop considering anything new that would add an expense, even if it is taking a class or lessons to improve in a particular area.
Beyond that, what has been weighing on me, is wondering what I can do to help those who are worse off than I am. I know that I don't have the resources to help everyone in need; so, I need to determine how I can be most effective with the limited resources that I have. That's a hard one to figure out. I have been able to help a couple of people here and there.... but, how would I be able to reach a larger amount of people?
I hope things will get better; but, at this point, I'm not very optimistic. The question is to find what the right balance is in giving, spending, saving, cutting back, etc.
Tuesday, January 6, 2009
Financial Considerations
As I continue to hear and see housing prices and stocks tumble lower and lower, more bank mergers, more upcoming retail store closures, reports of poor Christmas Holiday sales, and stories of how people are struggling with difficulty through this depressed economy; I cannot help but stop and consider what else I can do to prepare for even harsher economic climates.
Obviously, it is time to dispense with anything that is not considered a necessity. It means no new purchases, if we can survive with what we currently have. It means buying the essentials for groceries, and letting go of nice extras. It means likely putting off vacations; and postponing house projects. It means rethinking going out for meals and what we do when we get together with friends. It means to stop considering anything new that would add an expense, even if it is taking a class or lessons to improve in a particular area.
Beyond that, what has been weighing on me, is wondering what I can do to help those who are worse off than I am. I know that I don't have the resources to help everyone in need; so, I need to determine how I can be most effective with the limited resources that I have. That's a hard one to figure out. I have been able to help a couple of people here and there.... but, how would I be able to reach a larger amount of people?
I hope things will get better; but, at this point, I'm not very optimistic. The question is to find what the right balance is in giving, spending, saving, cutting back, etc.
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