Families and Finance: Surviving in the Eye of an Economic Storm

Do you live in the U.S.? Are you and yours struggling financially because of the economic distress of our country? Do you want advice on how to stay, not only afloat but successful in this tumultuous time? My advice is be thrifty, shop on a needs basis and save the luxuries for a time of more stability.

If your kids are used to going to the movies or mall every weekend, kindly explain to them that in this timeframe it is best if they forego that indulgence for a while. I fully understand that for some in the U.S. that may be painful but indulgences can be sacrificed without overall harm to one’s well being.

Dear readers, everyone knows that not everything that’s enjoyable is necessarily good for you. Take for example high class restaurants while they may be good for dates with your special someone, a nice quiet evening at home can be just as pleasant.

On other matters of economic crisis sometimes being frugal can be somewhat of an artform. Shop for your groceries at the local H-E-B, save money on clothes by shopping at Wal-Mart rather than JCPenny’s, these are just small examples.

Another way to survive in the eye of an economic storm is cash in on any investments, stocks bonds, etc. Furthermore, any money you’ve saved for a “rainy day” would be useful during a time of turmoil such as this. Students, get financial Aid, grants, anything you can to help you through school. If you can attain a scholarship that’s even better.

Try not to be so reliant on your families monetary support,especially if they’re already struggling. Parents if you are able and willing I am not discouraging helping your college age children out. What I am saying however is this, in this tumultuous time the less financial stress on families, the better off they are.  That said, if it is at all possible to reduce your household spending, you should.