A little over a year ago, I sat down, visited with some of my co-workers, and wrote a blog article about how we were coping with the stress of living in the shaky economy.
What came out of those visits? A genuine eagerness to share their ideas, a useful list of activities, helpful hints, and ways to save money. At that time, everyone I spoke with was trying to figure out how to adjust to living in the "new" reality.
Fast forward to the present day. Time flies when you're havin' fun, right? No. Not really. Twelve months have gone by. The "new" reality is no longer new. I don't know a single person who hasn't made some sort of change in response to the tanking of the economy -- and change is hard. Harder for some more than others, but one thing is certain -- there's no going back to the way things were.
No going back? Okay, then we'll move ahead down this road. I thought it would be interesting to re-visit with some of the folks I talked with before -- to see how they're doing now -- twelve months later.
Last year I talked with ten people. When I asked if they were more stressed because of the economy, they looked at me like I was crazy. No one was feeling very good. This year, I sat down with eight people. Right off the bat, everyone I spoke with couldn't believe a full year had gone by already. My first question to them was, how are you doing now? Four out of eight said they felt things were worse than they were twelve months ago. Three said they felt things were about the same. One person said she was 100% better! Whoa. What? 100% better? Yep. That's what she said. That was the big shocker and we'll save that for later. So, read on...
What came out of the conversations this year are more suggestions for coping with living on a budget. We already talked about many ideas in the first article, but we have a few new ones we'll post today.
Groceries & Everyday Stuff: Did you know that are full-meal planning programs online? There are a number of different websites where everything is figured out for you. Some cost nothing. Some charge a fee. Some meal planner websites allow you to download pre-planned menus, with a grocery list of all the items you'll need, and a list of the actual cost of the groceries -- at specific stores. There are meal planning websites that are designed for the number of people in your family. Some are customized to meet specific dietary needs. Want vegetarian? Want WW points? Low-fat or low-carb? They're there. If sitting down with your cookbooks and your recipes figuring all that out is not your thing -- you can check out some of those websites. You may be able to decrease your expenses.
Bottled water, tap water & soft drinks: Which is cheaper and better for you? Filtered water is cheaper than bottled. You can go green and get a container for your water and take it along with you so you have water in your car or at your desk. You'd be surprised at the amount of water you wind up drinking when you do that. Sometimes hunger is really thirst. Get a filter for your faucet. Get a water pitcher with a filter. You can filter your water twice (through the faucet into the pitcher) so that the filters in the pitcher last longer and the water tastes better. If you're into soft drinks, the habit is difficult to break -- but you can try switching to healthier options. Drinking water is much cheaper than drinking soft drinks and is much better for you.
If you're still going out to eat lunch every day instead of packing your lunch, you're spending a lot of money you don't have to. Pack your lunch with dinner leftovers. Get creative! It's cheaper to pack a lunch for a work week than it is to purchase lunch at a restaurant on workdays.
All the people I visited with reduced their food budgets and cut out unnecessary items. They're shopping for bulk items and anything with a longer shelf life. They're making more conscious decisions based on what they need vs. what they want. Some have delayed shopping for big items because the old stuff still works. All are doing things in much simpler ways.
Family & Children: One co-worker mentioned that even though cooking meals is more time- consuming and more complicated than going out to eat, it's offset with more time for family conversations at the dinner table -- and the bonus is they don't have to get dressed up to go out to eat. One co-worker told me her spouse had become more involved in family food purchases and now their food choices have become healthier ones. She said the one thing she and her husband can control -- is the food they feed their children. Their children are not in charge of that -- they are.
Some parents I visited with have limited their child's exposure to electronic toys and games, the Internet, cell phones, and other gadgets. Some have decided to give up cable TV and just watch local channels to save money. Some parents have increased their use of parental controls online. Some folks are beginning to question whether social networking sites are valuable in their day-to-day lives. How much exposure is too much exposure?
Some of us are no longer going to the store to rent movies. There are other options. Some services allow you to rent movies for one day for one dollar. You can also rent movies through online services. There are no late fees and a choice of different plans at different prices. You don't have to drive to a store -- it's handled through the mail -- postage paid. If you don't want to mess with mailing DVD's back and forth, now you can watch movies right away online. If you're a movie buff, you owe it to yourself to check out the options for movie rentals.
One family changed their vacation plans. Their original plan was to spend five full days at a major attraction. Instead of spending all their time at one place, they decided to spend just one day there. Just like eating out -- if you do that often enough -- it's no longer a treat or special. After a while it becomes standard operating procedure. It's overkill. They decided to do some other things the rest of time instead.
Media: Everyone talked about the general sense they had of the negativity that seems to permeate TV and other media. Some felt the negative aspects, the nastiness, the rudeness, and distastefulness was more widespread than last year, and they're tired of that. Some folks are filtering the news they watch. Some are no longer watching TV news at all. Some are just reading online news. Reading online newspapers from different parts of the country and international news websites can give you a different point of view. One person mentioned their switch from TV news to online news made him feel less distracted and he felt better about being able to control what he reads.
Reading about current events, written by knowledgeable people, may help you feel like you have a little more control over what is happening. It wasn't that long ago that gas was $4.00+ per gallon. Think about that for a moment -- If you knew six months ahead of time that gas prices were going to go that high, you might have been able to weather that particular storm a little better. In fact, there were articles written by folks who predicted gas prices would go up -- and they were right. Check out what those well-informed reporters are saying about what may happen in the future. You have nothing to lose.
Some folks are clamping down on viewing TV programs that are advertised as "reality" shows because they just aren't real. Real life doesn't require a TV camera. People behave differently when there's a camera present, don't they? How is that real? Some folks have switched to family-oriented TV shows because they've had enough of the violence.
Jobs: According to a report published in the Jefferson City News Tribune on February 24, 2010, the Associated Press reported that, "Americans' confidence in the economy has suffered a sudden relapse, dimming hopes that they will start spending -- and spurring job growth -- any time soon." The AP also reports that "Americans are morose about the job market and their economic prospects."
Some folks I visited with talked about the job market. One person felt that those who have jobs now may be able to weather the economic downturn. He said young people are facing a very difficult job market. Did you know that there are six people looking for work for every job opening? He also thinks the job market is producing fewer good-paying jobs and a whole lot of low-paying jobs.
Another co-worker mentioned continuing her education and her goal of getting a degree. For her, there's an underlying fear that getting her degree may not make much difference, particularly if the current economic climate and trends in the job market continue. None of us has the ability to control the job market, but she's counting on the job market to improve.
A couple of my co-workers talked about changes in their spouses' situation. At one company, the employer is no longer matching employees' deductions. One mentioned company "awards" have changed. In the past, her husband's company gave out free tickets for all their employees to go to Six Flags. This year, no tickets -- but, a picnic for all employees was held at a local park. Employers are not immune. They're feeling the pinch too.
Last year, I asked everyone what would be the worst thing that could happen to him/her. Eight out of ten said the worst thing would be losing their job. A year later, not everyone said that. Some said they just didn't know what the worst would be. All were concerned about losing their job but now they weren't thinking about it as much as they were a year ago.
Finances: Do you know the standard bookkeeping rule? If you don't know the rule, here it is: If you find yourself in a financial bind, there are two ways to handle it. You can increase your income or you can decrease your expenses. That's it. It's a good rule to remember. It's logical. It's simple. It fits. It can give you a tried and true perspective. It gives you a base.
Every person I visited with about their banking habits told me that they now bank at either a local bank or a local credit union. Big banks -- not as important. Big banks don't have the personal touch like a local bank, and if you move your money to a smaller one, you'll be supporting a local business.
Earlier in this article, I mentioned one of my co-workers told me she felt 100% better now than she did twelve months ago. Here's why: As a family, they made a major decision. Their goal was to pay off their debts. It took them more than a year to do that, but they began the process slowly -- with baby steps, concrete objectives, and reached their goal. It wasn't easy by any stretch of the imagination. It was a major adjustment for every person in their family. Sometimes they got discouraged; but they kept on going. My co-worker was eager to talk with me and to report they've been able to pay off ALL their debts except for their house. From where they were before -- to where they are today -- made a difference. Their lives have improved 100%! They were all feeling very positive. When you have no major debt, she said, you just don't worry about much at all. They were not worried. Their stress level was darn near non-existent.
Her advice: Have no debt. Have no credit cards. Pay cash only. Live within your means. Good advice. My co-worker and her family are a testament to that.
We all know that stress is not necessarily a bad thing. We all experience stress at some level and most of us can handle it. When you experience unrelenting stress for a year or more, it can really wear on you -- physically, mentally, spiritually, and emotionally -- so you need to take the time to take care of yourself so that you can cope.
Talking about these things can be difficult -- particularly when you say things out loud and know what you'll say will be published on a blog for anyone to read. Sometimes when talking about a "year in review," reminders of where you were and where you are now can cause some additional discomfort. It's hard to discuss. I appreciate the time all my co-workers took to talk about their situations. Thank you to all who agreed to participate. This article wouldn't have happened without you!
Folks, we shared some of our thoughts with you about how we're adjusting to living in the "new" normal. We did this in the hope that it might help someone else.
Let us know what you think. Your feedback is always welcome!
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