Tuesday, October 07, 2008

Depression?

I know the government is calling it a recession.
And others are saying that the world will not be
nor will our nation ever by the same after this
bail out has happen.

I surely hope that is true.... we American's have been living off
of borrowed money for over 50 years. We need to take a page
from our parents... My parents bought their land, and then built
the house as they went with money. Their friends help build the
house. As my father helped them. My parents NEVER bought a
car on time. They used and repaired their cars until they had money
for the next one. It wasn't until my mother got her trust fund in 1960
that they got a newer car and then brand new cars... paying cash each
time. My mother had canned food in the basement for years... and even
after we kids left home she still had enough canned goods that she
canned each year to last them at least 6 months. When they bought a
television it was cash. In other words if they didn't have the cash, they
didn't get it.

No, we didn't get to go on cross country trips, we went local.
We never went hungry.... yes, we ate stuff we kids didn't want to...but learn
that is what you eat.. lots of veggies and salad... meat was small portions,
bacon was one or two strips.. cut in half. And we never thought of ourselves
as poor. We just figured that was what life is about.

I follow thru some what. About half of what my parents did. I bought used
cars on time.. but never more money than I knew I could afford even if we
were on unemployment. Same with our houses.

And yes, like everyone else's children, my children live to the limit. But they
don't borrow more than what they feel like they can pay in a short time... but
they do go with the idea they hope to have their jobs forever... and my grandchildren???
Most live life like they feel they are entitled.... so what does this tell us... if we had a
depression... those of us over 50 would do pretty good. Those under 50 but over
30 would learn to do with less, and lose their jobs, cars, and houses...but they
would learn to live on less and be ok... those under 30 would be devastated and would not
know what to do.

Hopefully,all of us will learn to do with less.. there is no free ride

4 comments:

MarmiteToasty said...

Well I must be old fashioned then cos I never buy anything unless I have the cash for it... except for the mortgage of course, the car I bought 2 years ago I paid cash for it, no finance.... I owe no one nuffin....

I do have maties that have thousands on credit cards, yet both themselves and their partners have good jobs, Ive never understood why someone would buy things like washing machines and posh BBQs etc on credit, cos they cos so much more with the interest....

Fank goodness, Ive always been canning with me money.... and even more so this past 7 years where Ive been raising me family complete financially on me own....

It ya can afford to pay cash, then wait and save until ya can......

To many greedy 'keep up with the jones's in this world' and then they blame others and the economy with it all goes tits up....

*rant off* LOL

x

Dogwalkmusings said...

Good post. With the exception of marmite, lol, I think frugal is a word known only to our generation!

Idaho Escapee said...

Hiya Cis...my parents were probably a lot like your parents. Not much disposable income, but enough to raise a family and have some good times along the way. We never had swimming pools, charge cards, big new fancy cars every year, etc. I was middle class, and didn't really want for anything. I think people need to live their lives in the most basic way possible and quit buying unnecessary status-symbol-type things. As a kid, if I had my basketball, my records and little record player, I was fine. My mom introduced me to going to thrift shops, which is still a fun thing for me to do today. Who cares about Rolex Watches or Licoln Continentals? I imagine that if government was at least semi-frugal, things would be better in this country.

PinkAcorn said...

Hey! My hubby had grand baby #10 yesterday, too! And he's got #11 grand baby on the way, yipers.

You know what I have noticed in the past few years is that people are refinancing over and over and over...like their home is a bank and some end up with nothing to show for it.

Hope this economy picks up...and soon!