Posts Tagged ‘managing money’

Lessons Learned: The Frugal Future

Prior to the recession, I thought my husband and I were managing our finances pretty well.  Sure, we had some credit card debt, but we’d already paid off a couple of cards and were starting to make inroads on the balances of those that remained.

Then the recession hit and my husband’s job disappeared with the demand for new homes as the foreclosure wave drowned the housing market. My business, which up to that point, had been doing well, was suddenly floundering and we were left with facing the harsh realities of having too little income to make ends meet.

What had been manageable on our prior income was no longer manageable and the delinquencies began as we started to prioritize our expenses. Obviously food, shelter, and the utilities were priority number one. Everything else, including those credit cards that we had been diligently paying down, would have to wait.

Today, after two years of financial devastation, the money picture looks better. My husband is working and my business is picking up. We had to move to Canada to make it happen, but we are much better off financially now than we were six months ago.

The funny thing is I don’t want to spend money, now that I have it to spend. I still cringe even when we’re buying groceries and I see the numbers on the cash register terminal inching toward that $100 mark. My husband wants to buy me warm winter clothing because of the much colder winters here. I  know I probably do need the warmer clothes, having come from California, but I can’t help feeling guilty about buying a sweater. I would rather keep that money in the bank.

While I hope I don’t spend the rest of my life afraid to spend money where it needs to spent, I am glad that I have learned a new respect for the value of a dollar and that I will always think twice before spending. I think that this new found frugality will help us to never, ever again have to relive the devastation that were the last two years of our lives.

What about you? What lessons had this recession taught you and how were you changed by it?

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