Recession Planning

I was talking to a friend this week who is very worried about the economy. She is a stay-at-home mom and they rely entirely on her husband’s income. Recently there have been lay-offs at his workplace, so they are incredibly worried about their financial stability. She told me she was going to start stocking cans of food, “just in case.”

That totally took me back… stocking cans of food?? This family has tons of money in investments, so even if her husband lost his job… they would have a large savings, plus unemployment income to live off. Still, she was stocking cans “just in case.”

When I commented on the extremeness of her worry, she said “but everyone is freaking out.” She has friends who pulled all their kids out of their sports because they can’t afford the gas to drive them to practice and games. Really?!? I couldn’t believe that. There are other ways to work around the price of gas rather than just sitting at home!

This whole conversation hit me like a ton of bricks. In addition, the newspaper this week reported that spending is down on all items except necessities like food. Once again, it left me wondering… is it really that bad?

Granted, our economy is in a downturn… but we aren’t talking about a major depression. In this country, we have access to all we need and liberties most of the world doesn’t. The price of gas is a lot higher in the rest of the world, than it has been here. Still, they are managing to survive.

I am curious… readers. What sort of things are you doing to “cut back” or “save” in this economy? Are you on survival mode? Or, is it business as usual at your home? Please use the comment box below to share your theories and strategies!

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