On the radio and in the Chicago Tribune there were interviews with people who are (horrors) having to budget for the first time. No longer able to buy their kids all the expensive electronic gadgets they have in the past, the Trib was offering ways to explain not having enough money to kids (horrors). Welcome to the world I have lived in my entire life. It’s the world my husband I were raised in (although both of our dads belonged to unions.). It’s the world our kids were raised in, because we weren’t made of money and because we were raised by parents who grew up with nothing we (and our children) got wrapped packages that had underwear, socks, gloves, in them. They did better for us then their parents did for them and we did better for our kids, but they certainly didn’t have everything. We were too busy saving for college and a rainy day so that we never had to make financial demands on our children when we reached our “golden” years.

I often wondered why so many of today’s parents had their adult children move back in. Now I know. The kids have never learned to live without all the fancy gadgets, autos, etc. Maybe an economic downturn is just what these parents and their kids need. It will teach them to live within their (horrors) means and not rely on plastic. Cash is king. Pay cash. Do what we did. Live without a dining room set for 10 years until you have the cash (horrors) to pay for one. Yes, one room of your house will be empty, but so what. When you do buy it, you won’t owe anyone anything. They can’t repossess what you’ve paid for.

Buy only what you can afford (horrors), which means you may have to do without some things that you consider necessities, but if you do without them maybe they aren’t necessities after all. What do you really need—food, clothing, shelter and just how fancy do those things have to be? Do you need designer shoes or jeans or will a $20.00 pair do just as well. Do you need a five bedroom house with matching bathrooms or will 3 bedrooms do just as well? And, here’s a thought. How about a house without a second or third mortgage? Cash is king. Pay it off as soon as you can and if you do hit hard times and have to sell it, all the money you get is yours. Not the banks. If you do hit a mark to mortgage situation like we have now, here is another thought. The safest and smartest way to make money out of a house is to hold on to it for years—five years at a minimum. 

What we need to do is live a life not of luxury, but of love. Live simply so that you can share what you have with those who truly don’t have anything.

And, don’t be afraid to say those magic, not politically correct words, (horrors)

Merry Christmas

Is the water hot enough for you yet.