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This economy has made people rethink their priorities. People are now evaluating what is important in every area of their lives. Today, everyone knows someone or multiple people unemployed for the first time in their lives. With 13.7 million people unemployed in May, no one knows who will be next. People that have never before struggled or had a fear of losing what they worked their whole lives for, aren’t sure how they can hold on to what they've got.

By the end of 2008, foreclosures had skyrocketed to over 2.2 million, and they are going higher every day. Otherwise responsible people are walking away from their soon to be foreclosed homes. Banks are so overwhelmed they are shirking their financial obligations, too. For the first time in some people's lives they now understand what use to be is no more, and that nothing is promised to last forever.

There is one bright spot in all of this economic mess? People are taking inventory of their lives, relationships, lifestyles, and money. For the first time some people are looking at their real needs and wants, and making sure their needs are actually met. The McMansions, leased luxury cars, and over priced restaurants are no longer a necessity, need or want. Simpler, smaller, and sustainable is the new "in thing." Working every hour for things that can disappear tomorrow, aren’t so important anymore.

Affordability, saving money, surviving daily, and trying to keep a balanced life has become high priority. People are going back to the basics of life. God, family, and then work is now important to many.

How has the economy changed you and your spending habits?

Sharman Lawson a columnist on Fabulously40, and a financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever!

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Member Comments

    • 0 votes vote up vote up

      Lujack wrote May 25, 2009
    • I find myself even more than before finding joy in the simple things; like taking my kids to the park, going on walks, picnics,and movie nights at home.

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    • 0 votes vote up vote up

      Tamra wrote May 25, 2009
    • Not really.  I have always been somewhat frugal when necessary.  And I am who lives a balanced lifestyle, knowing all the while I could work for far greater wealth if I did not have the need to live emotionally healthy.  I see the “economic crisis” as merely the pendulum swinging back to the middle.  We will all be better off when we reach that middle point, too.

      I know that’s hard for many to accept, but we could not go on forever living beyond our means purchasing homes and other material things with borrowed money.  That house of cards was going to fall sooner or later.  And we will come out on the other side much stronger for it.

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    • 0 votes vote up vote up

      Kelly Robertson wrote Jun 1, 2009
    • Good Topic, Shar.  

      We don’t watch the news and we play a lot of board games, as we always have.  

      We also take our time at dinner and yak, something we enjoyed but really cherish now.  We do more work in the yard ourselves instead of hiring someone who’s not insured anyways.

      We still take drives and love packing a snack and some waters and we love going out for dinner too! We just appreciate the dinners out more I think.

      We love kisses and hugs, all free, but we’ve always done them.  

      I did take off my acrylics, but it was a combination of cost and TIME - TIME, yikes!

      We still vacation and LOVE the deals they have these days. Deals galore!  They‘re giving airline tix away!

      I still get my hair weaved and cut, but now every 8 weeks and at great deals! LUV IT and this is a MUST, since every woman should care about how she looks and the health of her hair, her skin, her body. EVERY WOMAN.

      The more everyone thinks about this issue and talks about it, the more it occurs, a law of the Universe.  

      Sorry but the Robertson Family is not playing very much in our “economic crisis“.  it doesn’t exist for us and that’s the truth.  oxox
      Love to you all, kelly

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