The book says,
If you are looking for that silver lining in the dark cloud of America's recent economic downturn, try studying what happened to your budget, income, and investments in order to see what you might do differently from now on.
The great psychoanalyst Sigmund Freud once remarked that our illusions allow us to enjoy pleasure but when they collide with reality and are dashed to pieces, we have to accept it.
Some of the industrial giants who built America suffered financial failures. However, from those failures, they gleaned information to build future financial empires. Dale Carnegie, for example, said that two of the surest stepping stones to success were discouragement and failure.
Use them to your advantage and a happy and prosperous financial future could be yours.
So, what have you learned from all of your past economic downturns?
Me... well, first this subject can lead to political talk in which there are no winners. Politics and Politicians both suck! Excuse the language, but they do. It seems they all just get richer while we struggle with our tightening our household budgets even tighter. The cost of living continues to rise and meanwhile our wages on our paychecks get smaller and smaller.
I'm in my fifties so I've experienced a lot of these "economic downturns." I have learned at least two important life lessons that I live by and have tried to instill into my kids brain pretty much with failure.
1- Never Live Beyond Your Means
I know that 52 inch television set that costs $700 or more is just what you want in your living room. If you can't get it without not paying the rent, the gas, the electric and the water- then it's not worth it right now. Put it on layaway. We've been without a television for over a month. We are still alive and breathing.
2- Live Frugal and Stay on Budget
Clip coupons. Shop at yard sales and flea markets. Visit the Salvation Army and the Rescue Mission Store. We also visit the Habitat Re-Store.
Is it pizza night? Then why not make it a family affair and make your own from scratch.
Is it movie night? Then pop a movie in the DVD player that you haven't watched in a long time and pop some pop corn. What better way to spend family night then right in your home?
A very good website I found with all sorts of ideas to living frugal is at Budget 101. You can also friend them on Facebook @ Budget 101. They share ideas from saving you at the grocery store, making your own recipes right down to DIY household cleaners.
Just For Today: I need to remember to Just Breathe!!!!
From the book: Live Happy