Remedies For The Recession

With the current economic downturn, the mantra is save, save, save. Downsize, stop spending, and, well, freak out. But there is another way to go. Things you can do, not not do. Purchases that will help, not hurt. Having your way out of being a have-not.

There are pro-active ways to save money in a recession. And to save yourself. Not by doing nothing, stopping, hiding, shrinking, and withdrawing from life, but actually finding a way to get more for less, with a positive mindset, not a negative retreat. How to find abundance and luxury without feeling guilty. Ways to feel cleaner, simpler and stronger. And yes, save money.

Imagine it's a snow day and you're stuck inside - latch onto that good feeling when you are forced to stay indoors, cook whatever is in the kitchen, pull out old photo albums, games, favorite DVDs, pause, and enjoy all the gifts in your life because you can't get out and buy more.

My mother had a resale clothing store for many years and I often helped out. Time and again women in their 50s would come in with bags and bags of clothes in perfect condition, some brand new. "I don't need fifteen cashmere sweaters," one would say, "I need five. Sell them!" At the time I couldn't believe anyone wouldn't want something beautiful in all the colors of the rainbow, but now that I'm older, and times are tight, I get it.

So many of us, particularly women running households and families, are so used to moving forward - getting the next thing, adding to the collection, hunting and gathering, if you will, working from to-do lists, running errands and getting things done that we feel stuck and stymied and lost with the new reality of less to spend. It doesn't have to mean there is less to do. Or have.

On the other hand, many have been hit more drastically than others, and while I wouldn't presume to offer advice to people facing bottom line challenges, I do think these ideas can help all of us.

It's sort of a prescription, an RX, a remedy for the recession - with the emphasis on the RE....

REVIEW: This is the act of literally eye-balling everything you have - go through everything. Look at it all. Sort through it, weed it out, take it all in. You have a lot. We all do. Go from the very top part of the house to the bottom and make a mental or literal inventory.

The truth is many of us have so much already. It drives Europeans crazy. If something breaks or we just get tired of it we get another. Ads on TV, magazines and the internet tell us we need new. All the time. Despite our new President's claim that we Americans are not ashamed of our lifestyle- we have a lot and we shop a lot - we replace without thought and we discard without sentiment. This can be stalled and reversed. And the fact is our closets, drawers, toy chests, and cabinets are most likely full to brimming. And full of pretty much the same purchases over and over...

REFLECT: On all you have. Remember where you got something - a special purchase or outing. A souvenir or memento of a wonderful time. The beautiful party you wore the dress to. Shoes purchased when your best friend needed your company. Your child's Mother's Day cards. Objects are just that unless infused with our memories of obtaining them and enjoying them. Then they have a story and a soul. Reflect upon all the gifts, remember, we can't look forward without looking back. But then get to work.

RECOVER: Enjoy the beauty of a found object. Again. Find a renewed purpose or pleasure from it. Share, trade, and rediscover. More metaphorically, use this time to find things lost, whether it's pictures, a favorite book from high school or college or an old acquaintance or long-lost friend. Paperwork: old letters, diaries, papers, yearbooks, manuscripts...look at it with new eyes.

And you can literally recover too - the way new fabric brings an old chair to life - a new use for or way to wear something you've had forever makes it new again. Or give it away.

RECYCLE: It's not just for trash anymore. It's a revolutionary concept that is changing our world and can also change your life. Re-use, send along, move it forward. Organize a weekend afternoon with a bunch of like-minded friends and bring your stuff - GOOD stuff you just don't need anymore and swap it out.

And if you can't trade it, give it away. Find use again for what you no longer need. And if not - if its use, beauty or meaning is done for you - pass it along to someone else. It not only helps everyone, it's good for you and you will feel better.

REDUCE -- Get rid of clutter, duplicates, things that upon reflection mean nothing and do nothing for you. The aesthetics of simplicity can truly bring clarity and freedom. Work to have less and you will have so much more. Guess what else costs nothing, but has a big return - losing weight. Eating less, exercising more - all cost-efficient, and buying a new pair of pants one size smaller will be one of the best buys of your life.

REJOICE! You have so much. We all do. Gifts, treasures, precious, precious things that once satisfied you so much - they can again. Truly more than enough. And taking simple, joyous pleasure in what you have not only creates less and less need for more, it helps you let it go. Gratitude makes you feel rich.

You can have abundance, you can treat yourself, there are pleasures to have. Enjoy your gifts. It's not a sin - it's medicinal.

REWARDS - The upbeat in downsizing - the fun and the new. It's ok to look forward to something, to be tempted, to imagine, anticipate, even lust. It's simply a matter of scale. Dine out once a month at the more expensive restaurant instead of several times at the local eatery. Buy chocolate from a specialty store. Research and contemplate a perfect pinot noir. Shop online exhaustively until you find the best price for one new accessory per season (after swapping out your old bag or shoes first, of course) And if you have to indulge and overdo or splurge - go to the drug store for a brand new skin care regimen or get 12 new pairs of athletic socks at Costco. Go wild!

Just remember - REPLACE, don't REPLICATE.

Find joy and abundance in what you have - simply rearranging, reorganizing, and reprioritizing can bring riches and satisfaction to the new downscale lifestyle. Simplicity - of ownership, of intent, and of your soul will get you though these difficult times. Restore, Repair, Return, Reboot and Redeem yourself.

Comments

[Guitarsandmore]

We moved to a smaller house in a more affordable neighborhood. Our expenses are now half of what they used to be. A smaller house has lower utility bills and is easier to clean. By saving on expenses there is now much more usable cash on hand to pay the other bills.

Also, if you are lucky enough to move out into the country where property is more affordable another side benefit is the air quality is usually much better than it is in the big city.

A slower pace of life is healthier for you as well.

Best to all

G&M

[topkatnc]

And if you are in a dysfunctional family it makes it so much harder...almost impossible to get through a day as a family..

[DeadPossum]

Nancy, I have endured endless ravings from economists on how to fix the financial crisis. They are totally discredited by the fact they didn't see it coming and dont know what to do now. Spending trillions to get out of debt is an oxymoron. We have to rediscover the pride in values of thrift, parsimony, and frugality. Not just use these values as a means to get by in hard times, but take pride in exercising thrift on a daily basis. The economic system we have been using is bankrupt in both cash and ideas. It can't be patched up with bandaids and bailouts. We will have to pick out the useable bits from the rubble of its collapse to rebuild a smaller, less cluttered system.
But perhaps you have shown the way with household economy. The top down approach of throwing billions at failing banks doesn't seem too promising. Perhaps the bottom up, grass roots household by household action is what is needed.
Nancy, what you advocate in your article is a great opportunity to unclutter our lives and identify what is truely important. It is also wise advice to survive difficult times. Perhaps it is also part of the solution to the finacial black hole that our leaders seem to be spiralling towards.

[ndem]

Buy quality. Buy locally. Buy handmade things that LAST! I have a handmade sweater which costs less than $80 15 years ago and I still get compliments on it! Learn to knit!!!

[wietog]

So we spend &waste and this ReDepression is a quaint time to reflect?

Um, capitalism and marketing push our "society" forward by encouraging us to purchase more stuff and pay for grander services. It's a ponzi scheme, where can it end?

Some items are necessities- such as a car if you don't have access to a public transportation system, a computer and a cell phone... Mostly, our purchases need upkeep, cartridges, batteries, parts, components, refills... Many don't last - shoes wear out, sponges rot, cars break down. Some things should last longer - like electronics. Maybe we're "forced" to shop.

Some of us shop mindlessly but most don't. This caricature of the ridiculous American with a house full of crap is insulting to me.

I try to use what I have, be frugal, buy what I actually need. Except decorative tchotchkes and extra outfits, but for the most part, it's essentials.

And frankly, if I put all the items I've purchased that broke, shrank, didn't do what they claimed or were faulty in some way prematurely in a pile, it would be bigger than a 1,000 square foot home.

It's not only time to pay closer attention to how we live, but to recognize the three REAL reasons for this economic downturn:

1)THE IRAQ WAR (duh!)
2)CRAZY BANKING SHENANIGANS (money "makes" money, right?)
3)MONEY SUCKED UP TOWARDS THE TOP 2% (bye bye, middle class...)

[tlgeiger62]

The premise for your ENTIRE piece is that you are employed.

If you have a finite amount of money to live on until you find a job (like my family) it's hard just to not be TERRIFIED each and every morning as you get up to send you 9 yr old to school.

And after you lose your house, it's hard to take pride and marvel over the Mother's Day cards because you had to leave them behind.

[lewes17266]

I hope life improves for you.

[LMPE]

Clearly a remedy is to develop lewd fantasies about Janet Leigh. She was a fine-looking woman (and a great actress to boot).

[Guitarsandmore]

Find the used furniture stores in your town. I just paid twenty bucks for an old printer table from the 80's that is as good as new.

My all in one printer is too big for the desk and so I wanted a separate printer table. After looking in stores for new tables and talking to the lumber yard about building a table I visited the local used furniture store. I found a printer table completely covered in oak veneer for twenty bucks and they delivered it and set it up for free!

[berrycooda]

What remedy is there for the family that is trying to get by on an
unemployment check....

People with some money can find things to do without spending much,
but the less fortunate are lucky to have enough to eat let alone
go without buying necessities.

When you have children and babies, it costs more to provide for them
than it does for some families who are more well off.

You may be speaking about people who are still working and trying
to save money....that is a different story because there are always
to cut expenses when you are still getting a paycheck.

[SangZe]

Yes, we are in a depression, not a recession. We had better get used to wearing hand-me-downs and selling apples while the corporate and banking execs fly around in their tax-supported jets.

[Glamorosa]

This week I looked at all the jewellery I had and realised half of the stuff I did not wear.As gold is a good price at the moment I took it to the bullion market and got a good price. I also found a ring that
my mother left for me when she died. I had it re-polished and re-sized and now I have a beautiful ring to wear.

Have fun with re-creating what you already have.

[dadw5boys]

For us Americans who have always prasticed these and more ways to protect our wealth it is almost laughable to see these articles.

We have endured many recessions and will endure more.

We never go deep in debt without a plan. We never buy what we don't need and when we buy we buy quality.

We often buy old things at Flea Markets and repair them. What many forget is these old things lasted 50 years before breaking down and the repair parts are still around for those who take the time to repair them. And we save money doing it usually much cheaper than a new product with a short usefull life span.

USEFULL LIFE SPAN IS AN IMPORTANT DETAIL !

[Joyce Gatewood]

I agree that it is almost laughable to see these articles except that it's not. Your ways to save are dead on accurate. It's incredible how much the norms of American culture are excesses ie..too much food, too much car-house-­jewelry-cl­othing-jus­t too much. Just because you can eat more-buy bigger on credit-doesn't mean that you should. It all seems like common sense to me but then again if sense were common-everyone would have it.

[usonia]

Stop shopping, period. Stop giving away your hard-earned money to the corporations. Take a good look around your house. Except for food and soap, there probably isn't anything you"need."