Waiting Out The Storm

Despite the current condition of the economy, my cup is still half-full. In fact, because of the current condition of the the economy, my cup runneth over. For the first time in my life, I don't feel like the only person living from paycheck to paycheck, struggling to make ends meet and save a little on the side.

What I am used to is being surrounded by people who drive better cars than me, live in nicer homes, wear more expensive clothes, and take more expensive vacations. (Who am I kidding? To take any vacation at all is out of my budget, unless I have a free place to stay.) I constantly felt in awe of those around me, like a child on a first visit to Disney World, my eyes wide with amazement...surrounded by people my age, in their late thirties, who drive Mercedes, live in 300K homes, shop only at high end stores, and take their kids skiing for spring break. The lift tickets alone would put me in hock.

I feel like Eve in the Garden of Eden, seeing clearly for the first time. The enormous dip in the economy has pulled the blinders off and evened the playing field. Friends and acquaintances whom I had admired before for their lavish lifestyle have been exposed for who they really are, and that is...just like me. They don't necessarily have much more money than me, they just live beyond their means. Way beyond their means. While I understand why people choose to do this, it has never been an option for me.

I was raised by very frugal parents. My dad, a surgeon, was unwilling to part with cash to pay for my new homecoming dress every year. We did not wear designer clothing nor did we have the latest gadgets. We survived with an outdated stereo, an ancient console T.V. ( which was missing a knob so you had to use pliers to change the channel), and a Honda. Our home was modest yet nice. (Even at a young age, I wondered what my father's colleagues and students thought when they came to our brady Bunch house for the annual Christmas party, with ugly green carpet and old furniture.) Still, we wanted for nothing. We had a roof over our heads, food on the table, and yes, we went skiing for spring break, a fantastic opportunity that I hope to give to my children one day when I can afford it but no sooner.

My grandparents, who greatly influenced my father, were frugal as well. "Everything in moderation" is the best way to describe their lifestyle. They spent a little and saved a lot. They socked away everything they had and when they spent money, they spent it wisely and well. My grandmother, who was very fashionable, wore the same clothes until they were worn out. She mended what she could and got rid of what was unsalvageable, even for the Good Will. My grandfather carried a sack lunch to work with him every day, a tradition my father upheld until his retirement at 70 years of age. Because of their modest lifestyle, my grandparents were able to winter in Hawaii and summer in Palm Springs every year. This was not paid for on credit but out of pocket. This was money they had set aside for such frivolities once all necessities had been met. My grandfather retired from dentistry in his 60's a very wealthy man. He and my grandmother lived very comfortably until their deaths a the the age of 98, when my father was left a hefty inheritence.

Fortunately, some of these habits have been passed on to me. Unfortunately, I cannot say that I am quite as wise or as frugal as my father and grandparents. Even still, I consider myself to be quite sensible, my "splurges" hardly qualifying as such. I troll the sale racks at Target, Old Navy, and Ann Taylor Loft for clothing. We often go to parks or to the library for entertainment, or rent movies. On occasion, we splurge on a babysitter, but mostly rely on family for extra childcare.

My husband and I bought a modest home about ten years ago for a little more than 100K. Two children later, our 3 bedroom, 2 bath home has become a bit crowded. However, my husband and I and the children each have our own rooms. Company sleeps on the sofa-bed in the "Red Room Suite" (our living/ dining room). Our "master bathroom" is the size of a very small closet with a stand-up shower. The children share their bathroom, and when we have company stay, they use ours. We own two cars and have no car payment, having fulfilled our payments a few years ago. Our "newer" car cost 18K used. Each car is a little over ten years old, but they run fine. I do not plan to move or buy a new car anytime in the near future.

My husband and I both work. Although I would prefer to be at home caring for the children (6 and 2), my income is necessary to sustain the family. I have a whole new appreciation for my paycheck and for the turmoil going on around me. I have found that the wealthy elite are not so wealthy nor so elite anymore. People living in lavish homes are scrambling for money to buy groceries. Working in a dcotor's office, I have part-time nurses who have worked in the past solely to keep up their licenses, now begging me for hours, carrying negative balances in their checking accounts because their builder/ mortgage lender/ real estate agent husband is no longer bringing in the big bucks. Actually, forget the big bucks; they're bringing in na-da. Homes and second homes costing hundreds of thousands of dollars, if not millions, are being foreclosed on.

All of this panic is swirling around me and I feel...fine. Not only do we have food on the table and a roof over our heads, we have money for extras (entertainment, eating out, a little shopping) plus money saved on the side. Not only do I feel comfortable, I feel priviledged, smart, and proud. Priviledged that we are able to maintain our conservative yet comfortable lifestyle, unphazed by the economy. Smart that my husband and I did not take vacations we could not afford, buy a home outside of our budget, or buy the kids indulgent extravagances. Proud that I have, afterall, learned from my grandparents and parents to live in moderation and well within my means.

Even if my husband or I lost a job, we would have enough money to survive for months, if not a year if we really scraped. All that there is left to do now is wait. Wait out the storm of the down-turned economy. I feel certain the storm will one day pass and we will all be stronger and smarter for it.