Our Life in Words and Photos

What this Recession Taught Us

One good thing brought about by this recession is that it gave us (me and hubz) a chance to take a good look at our spending and weed out unnecessary expenses. Don't get me wrong, I am not one who throws caution in the wind when it comes to spending anyway (except for my scrap hoarding, LOL) but it pays to really be careful. Now is not the time to indulge on uncessary things, to build up the nest egg and to formulate a backup plan in case we lose a job. It is truly sad that this economy is not getting any better and we haven't seen the light at the end of the tunnel - yet (I still remain hopeful that this will come to end soon). Add to that the fact that California is also experiencing major budget shortfall.

What led me to this day was when I was watching Oprah one time and they featured those who have been greatly affected by this recession. People in Sacramento (a good hour away from where I live), in the capital of California, losing their homes to foreclosure. These are middle-income families now living in tents because they coudln't even afford to pay rent due to a job loss. These are families who, a year earlier, were able to afford a WII as a birthday gift for their kids but could now no longer afford to pay for housing. These families are no different from you and me. They have been victims of this hard economic times. It was truly an eye opener for me. This could happen to any one of us. Scary, scary thought.

So, no more lusting over a new LV bag, nor drooling over the new Nikon D90, or pining for a new VR lens, or salivating over yummy papers and new scrapbook goodies. The only thing we're not skimping on is food. Even that, I make it a point to buy new stocks when we have consumed the supply in the freezer. This way, we wouldn't need to throw anything out. Even when scrapbooking, my challenge is to use the supplies I have on hand. After all, what got me into this hobby in the first place is the need to document our lives, not the latest and greatest paper or embellishment.

What we are currently doing is pay using our debit card - as much as we can anyway. Since it goes straight out of our checking, we're more conscious of how we spend our money. I also started tallying (while shopping) how much each item costs so I have an idea more or less, of the final amount I have to pay at the counter. We are also cooking more and eating out less. However, I still buy take outs on days that I have to be in the office because I get home late that my boys are ready to eat the furnitures if I don't have food with me. But, the takeouts have to be $10 max and should last for two days, LOL. We turn off lights in areas of the house that are not in use - even Kail is already trained to turn off the lightwhen he leaves a room - it's never too early to start, LOL. I also make it a point to jot down our day to day expenses so we get an idea of where we spend our money on.

We are also foregoing buying new furnitures for the house. Our formal living and dining areas are bare so that has become our kids' play area. Since the boys are prone to breaking things anyway, we figured we'd wait until they're a little older before furnishing it, and hopefully the economy is better by then too.

We're taking one baby step at a time because at the end of the day, what's really important is that we're together, we're in good health, and we're happy even amidst all the cost-cutting that we do. That's what counts most - not the greatest and most expensive of things. All in all, this recession has taught us to live simply but meaningfully.