The Economy Sucks, So…

Posted by Mrs Money on April 7th, 2010

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March Jobs Report - America Is On A Path To Economic Recovery
Creative Commons License photo credit: Speaker Pelosi

How many times have you heard someone blame the economy for something? I hear it daily, and I can’t help but wonder just how much we can blame on the economy. Should we blame everything on the economy? After all, it does affect pretty much everything. Should we take responsibility and say that we can control our lives?

I know that personally I make many decisions based on “the economy is horrible.” I won’t cut back on my hours at work because I need job stability. I am afraid to seek other employment because the economy is so bad that no one is hiring. I’m afraid to look into selling my house and moving because the economy is so bad.

Is it all a bunch of excuses? Or am I being smart in erring on the side of caution? Sometimes I feel like I’m letting the economy dictate what is going on with my life. I let it control my happiness. There was a time where I was so scared to even have kids because I thought the economy was so bad that I’d lose my job, my husband would lose his job, etc.

I’ve since then learned that there’s only so much that I can control. I can keep doing my best at work, keep trying to increase my income on the side, and save money in case something does happen. That’s about all I can do.

It’s no secret I would like to sell my house and move from where we are currently living to be closer to family.  I let the economy scare me into staying put and not checking into the possibilities of moving.  I’m afraid we can’t sell the house, we won’t be able to find jobs where we want to move, etc.  Is that silly, or responsible?  I’m not sure.

How much effect does the economy have on your goals?

*The image has nothing to do with my political views, it’s just a random one that was selected on Flickr.
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22 Responses to “The Economy Sucks, So…”


  1. Money Beagle says:

    The economy does have a lot of restrictions right now, but just like with anything else, it creates opportunities and most importantly, I hope that we learn lessons that carry forward like the importance of saving, of not getting over-leveraged in debt. If we just go back to the way things were as soon as things get better, this will all have been for nothing.

    [Reply]

    Mrs Money Reply:

    Money Beagle- I agree! I hope that people continue to cut back when things get better. There are a lot of great lessons to be learned!

    [Reply]

  2. Yeah I agree; there’s still plenty of opportunity out there and in many cases, poor economies provide the opportunities to acquire cheap assets at a lower price than you normally would have. Not to mention, even when the economy is wonderful, there are plenty of people out there making poor choices with their money.

    As for the job thing, you may have more or less opportunities depending on where you live and your particular field, but I was able to change jobs late last year with no problem. There might be more competition for those jobs but there are plenty of good companies are still hiring; you just have to go that extra mile to find them.

    -B

    [Reply]

    Mrs Money Reply:

    Blair- Thanks for your positive comment! That’s great you could find a job at a new company last year. I like to hear about good things happening even though “the economy is bad”.

    [Reply]

  3. Little House says:

    I think you being logical and responsible. Maybe if you wrote down a time line of when you’d like to move, with all the logistics involved such as securing a job and a house, that would help. For instance, if you have researched the area you’d like to move to, what companies are currently hiring in that area? Maybe you could begin sending resumes to them now, with the idea that you’d be prepared to move in 6-12 months. Just a thought!

    I’d also like to move in the next few months, but teaching jobs are limited in the area I’d like to move to. I’m not so sure this will happen as soon as I’d hope. Good luck!

    [Reply]

    Mrs Money Reply:

    Little House- I like that idea of writing down a time line. I think that would help. We really need to decide what we want to do. I figure I can pretty much work anywhere at a bank. It seems like banks are always hiring branch employees. It’s my hubby (who is a chef) that I’m worried about! ;)

    I hope that things work out for you!

    [Reply]

  4. Our biggest decision is what to do about paying off our mortgage as I was discussing yesterday in my blog. I would begin paying down today if the economy was just a tiny bit better…but what if we lose our jobs and we need that money and can’t afford to make the monthly payments that are left? Despite my being sure that it is a good decision, I’m still hesitant.

    [Reply]

    Mrs Money Reply:

    Laura- I completely understand where you are coming from. If you paid $20,000 extra on your mortgage and then found yourself without a job, then that $20,000 would have come in handy! I put a little bit extra on our mortgage each month. Not a ton- but enough to make me feel good about it!

    [Reply]

  5. You can always put your house up for sale first. After the house is sold, look for another house near family. You can always rent first if you don’t find what you’re looking for immediately.

    [Reply]

  6. BibleDebt says:

    The only economy that should really matter to you is your personal economy. If your personal economy is in great shape (no debt, good job, a good budget, etc), then a bad macro economy actually is a good thing and presents a lot of opportunities for you to take advantage of deals. Even in a “good economy”, your personal economy might be in rough shape. Get yourself in good financial shape and you will be able to make decisions without worrying about what everyone else is doing or not doing.

    [Reply]

    Deirdre Reply:

    I agree with this — all that matters is what’s going on with you. I would say, look for the job you want before you decide that you can’t get it because of “the economy”. That might end up being the case, but you won’t know ’til you try. My boyfriend lost his job last year, but then ended up getting a better one. We moved across the country and live in a bigger, nicer apartment than we could have had for the same price back East. Try selling your house before you decide it won’t sell because of “the economy” or whatever. And as far as kids go, decide what level of savings you need to have before you take that step (I’m assuming one of you will stop working for a while once you have a child), and then when you get there, go for it, no matter what’s up with “the economy”. It’s never occurred to me to make any decisions based on “the economy” – my only decisions are made based on my personal economy, which at this point is not good, but that would be true even in a better economy. Yes, the economy is probably the reason I’m having such a hard time finding a good job, so in that sense I’m being affected by it, but either way I’d be looking, you see.

    [Reply]

    Mrs Money Reply:

    BibleDebt & Deirdre- I love this! I am so glad that you two chimed in with this advice. It makes me happy. :)

    [Reply]

  7. Although we went through disaster last year, I gotta say, it feels AMAZINGLY bullish right now!

    Stock market on fire, job market on fire, Facebook, Twitter, Linked In all here in San Fran and FB going public. Restaurants PACKED, traffic ridiculous, things feel good!

    Best,

    Sam

    [Reply]

    Mrs Money Reply:

    Sam- I am hoping things get even better quickly! I think we’re on the road to recovery. :)

    [Reply]

  8. Becky R says:

    I think give it all to God in prayer. He will let you know the right choice for your family, but He also gave us all a mind to use wisely.
    The timeline idea sounds good, plus trying to get a job in intended area and putting house on market are good ideas. If you get no job offers or house offers maybe that is your answer.

    I personally am not working too much, am a single mom, and bought my first house last year. I have no debt and money to last until Sept. It is all God!
    I did have reservations since economy is bad, but so far it is working out.

    [Reply]

    Mrs Money Reply:

    Becky R- Thank you for that. :) I need to do more praying about it. I am glad that things are working well for you, and I hope they continue to do so! :)

    [Reply]

  9. Jenny says:

    I was wondering this same thing earlier, and I think many of our decisions have been made for reasons specific to us. The poor economy coincided with our first few years of marriage and lots of bills due to the birth of our daughters and first home and vehicle purchases. I can’t wait to see how things pan out for us when we pay a few things off, get a bit more savvy, my husband gets paid more, and the economy improves!

    [Reply]

    Mrs Money Reply:

    Jenny- I hope things start looking up for you! I know you are on the right path now and will continue to make great strides. :)

    [Reply]

  10. akborn says:

    You know truthfully I was blind to it, I wish I could blame it on my age, but I just seem to be getting older, so guess I just have to own up to the fact I just wasnt paying attn. lol
    I know Alaska has for years been a year(or more) behind in anything and everything which has its perks. over a year ago my husband lost his job- which was disappointig but we decided to take advantage of it and moved to Texas. At the time there was tons of jobs with in 30miles of where we were going, and were very excited. less then 5 days from us arriving there a major factory shut down, letting go of 200+ employees, so you can imagin what that did to alot of the “easy” jobs. there were none..we even extended our search to 50 miles. so what turned into a move turned into an “extended vacation” since a job offer came to my hubby and back to Alaska we came..lol…its been interesting to say the least- because when we got here, things started turning abit down here as well- still not as bad as it could be. but you can see alot of the smaller places taking a big hit.
    but basically what I was going to say, was that I think its all over hyped bs to be used as a scare tactic. and possibly for some a blessing in disguise and vise versa. and deff an eye opener for someone like me. and alot of “hind sight” moments- lol

    [Reply]


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