Money Woes and Blessings
A few days ago I was reading articles on CNNmoney.com when I answered a poll about whether or not our family was better off financially than we were at the end of the last economic downturn in 2001. That was an easy answer for me-- at the end of 2001, Terence was in school full time, and I had just quit working full time after having M. It was a struggle to feed ourselves, so clearly we are much, much better off now. However, I had to stop and think for a moment, because 2001 did not seem like we were in the midst of an economic downturn. Perhaps I was just blind to everyone else around me, or maybe things just weren't as bad in San Diego as they were elsewhere.
Now, here in Phoenix, I can feel the economic change as clearly as if I were standing in a sudden monsoon storm. Terence and I are doing fine (giving all the credit to the Lord), even though we have watched his normal overtime dry up. Yet everywhere around us, the signs of money pain are obvious. Our neighborhood, which was a brand-new master planned community in the early stages when we moved in, is becoming a ghost town. Right now if I walked out my front door I could see at least eight realtor signs for foreclosures on my street. (That's not counting the people who are trying to do a short sell, and the slew of houses on our street that are already empty.) Two of our five builders pulled out, leaving half of our development as empty weed-infested lots. Our HOA is struggling to pay the maintenance bills, since so many owners are delinquent in paying their dues.
Last Sunday, our bishop got up in Sacrament Meeting and pleaded with the members to increase their fast offerings (or at least pay them at all) if they could because our ward is just not able to meet all the need for help right now. I have known of friends in our area who are just completely out of options to pay their bills.
However, even with all the economic turmoil, I feel it has been a blessing in disguise for our family. Finally, Terence and I are starting to really get better about making a budget and sticking to it, while saving money so that we can meet the unexpected expenses. This week we had the surprise of having to buy a new fridge, and fortunately, with all the extra saving we had the cash on hand to pay for it. I have been taking the time to carefully evaluate our purchases, and both of us have been doing much better at learning to wait for things we want, rather than simply splurging at the moment. Eventually, the economy will turn around in our area . . . it always does right? In the meantime, I think Terence and I will come out of it better than ever financially. Between paying our tithing and exercising our new budgeting and saving skills, for once we may even be able to get beyond living paycheck to paycheck.
Now, here in Phoenix, I can feel the economic change as clearly as if I were standing in a sudden monsoon storm. Terence and I are doing fine (giving all the credit to the Lord), even though we have watched his normal overtime dry up. Yet everywhere around us, the signs of money pain are obvious. Our neighborhood, which was a brand-new master planned community in the early stages when we moved in, is becoming a ghost town. Right now if I walked out my front door I could see at least eight realtor signs for foreclosures on my street. (That's not counting the people who are trying to do a short sell, and the slew of houses on our street that are already empty.) Two of our five builders pulled out, leaving half of our development as empty weed-infested lots. Our HOA is struggling to pay the maintenance bills, since so many owners are delinquent in paying their dues.
Last Sunday, our bishop got up in Sacrament Meeting and pleaded with the members to increase their fast offerings (or at least pay them at all) if they could because our ward is just not able to meet all the need for help right now. I have known of friends in our area who are just completely out of options to pay their bills.
However, even with all the economic turmoil, I feel it has been a blessing in disguise for our family. Finally, Terence and I are starting to really get better about making a budget and sticking to it, while saving money so that we can meet the unexpected expenses. This week we had the surprise of having to buy a new fridge, and fortunately, with all the extra saving we had the cash on hand to pay for it. I have been taking the time to carefully evaluate our purchases, and both of us have been doing much better at learning to wait for things we want, rather than simply splurging at the moment. Eventually, the economy will turn around in our area . . . it always does right? In the meantime, I think Terence and I will come out of it better than ever financially. Between paying our tithing and exercising our new budgeting and saving skills, for once we may even be able to get beyond living paycheck to paycheck.
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