Lessons Women Learned During Financial Meltdown

by financialmom

in Debt, Emergency Fund, Investing, Money

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Ok, I had to go with the melting snow picture, because it is snowing/melting here today (welcome to spring in Wisconsin, where you need a  rain coat/winter coat, shovel/umbrella,  jeans/shorts,  fleece/t-shirts,  all in the same hour/day).

As we seem to be coming out of the financial meltdown, I thought it would be good to share some comments/confessions/complaints I have heard/read/experienced over the last year and a half.  All statements will remain anonymous to protect the guilty/innocent:

1) No matter what happens here on this earth, God is still in control!

2) Debt sucks. Debt sucks.  Debt sucks. Repeat as often as necessary to tatoo it on our foreheads.

3) Can our emergency fund ever be too big? We admit we thought 3 -6 months of living expenses in a liquid savings account was excessive, and we further admit we were wrong.

4) Investing is for the long term. Keep repeating that statement too - investing is for the long term!  Still, watching our 401k go down and down and down is not fun.

5) Impulse buying is soooo over! (And it’s amazing how much shorter those shopping trips are.)

6) Eating out is very over-rated. Home cooking tastes much better anyway, especially if our husband makes it icon smile Lessons Women Learned During Financial Meltdown (well, ok, sometimes).

7) We can wait to purchase the new furniture/carpet/flat screen until we can pay cash. Zero percent financing is not a deal when we can no longer afford the payments.

8] We probably didn’t need t0 buy/lease that new car when we did it. And now we are hating that monthly payment we are locked into (see #2 again – debt sucks).

9) Being anxious about our job/finances does not change our situation one little bit (see #1 again!).

10) Rather than buying everything new – checking out garage sales, thrift stores, Ebay, and Craigslist can be fun. It’s all in the thrill of the hunt.

11)  There is a huge difference between wants and needs. We found out we don’t need all that much, and we have wanted and expected way too much.

12) It is possible to reduce our living expenses. It will require use of the b***** word – you know, spending plan.  The plan also may need to be reviewed/revised a lot more than never – like monthly.

13) Say it again sister – debt sucks.  Ignoring debt and hoping it will go away is even more stupid. Pretending those bills do not exist is not a financial plan.

14) We can live without the movie theater and that big bucket of cardiac arrest (extra buttered popcorn), as evidenced by the long lines at the video store.

15) Borrowing on the basis of a future expected income may backfire right in our face if we lose our job. The Bible is absolutely correct when it says the borrower is a slave to the lender.

16) A house payment dependent on two incomes was probably not a good idea. Just because we qualified for a huge mortgage, didn’t mean we had to take it.

17) Eating generic labeled foods will not kill us.  Using coupons either. Why did we pay so much for groceries?

18) Yes, we have too much stuff. We can sell something we are no longer using, like the stuff buried in the basement, garage, closet, or attic (kind of a reverse #10).

19) We will say no to our kids when they ask for stuff they don’t really need. And we will take the time to explain to them why, so their generation doesn’t have to experience a family financial crisis in a future financial meltdown.

20) No other way to end this list – God is still in control!

New Profile Pic 2599R Lessons Women Learned During Financial MeltdownPamela Otten is CEO of Pamela Otten LLC, a Registered Investment Advisor. She loves to work with women business owners and entrepreneurs, and women in transition due to job change, death, or divorce. Pamela will help you set and reach your financial goals, educate you to understand your investments, and teach you how to do more charitable giving. Pamela is a Qualified Kingdom Advisor (www.kingdomadvisors.org), trained and committed to integrating biblical principles with her investment advice.

cc smallest Lessons Women Learned During Financial MeltdownPhoto Credit -AlishaV

Financial Planning, Investment Advice, and Investment Management provided through Pamela Otten LLC, Registered Investment Advisor.

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