Simple solutions for those struggling in this economy

By Judy Miller Gerard

Wednesday, Feb. 18, 2009 | 2:38 p.m.

Our nation has come through many difficult economic times, and it seems to me that in each case two basic things happened. People took stock of their situation and looked for ways of cutting back on their living expenses. Then they began to find ways of sharing and working together in order to help themselves and each other. Since we seem to be standing on the threshold of yet another hard time, let's consider doing a similar thing.

In getting a handle on how best to help ourselves, it makes sense to take time out and objectively assess our situation. A simple yet effective way to do this is to prepare a worksheet, listing in one column your income from all sources, then list in another column the monthly (and annual) expenses. Now add each column and see how the totals compare. If your income covers all expenses and you have money left over, you are fortunate. Make a commitment to save at least part of that.

If your expenses are more than your monthly income, then you need to study your expense information and see where you can cut back. If you cannot see anywhere to cut back, talk with a trusted friend and see if they can help you analyze it. If that doesn't help, consider consulting a reputable financial advisor.

In whatever situation we find ourselves, there are many things we can do to simplify our lifestyles and trim expenses. It is a great thing if we can involve our family members and friends in this money-saving adventure and have them come up with creative ideas also. Here are just a few to try:

• Eat at home, sitting around the dinner table together, sharing the day's events and having interesting conversations. Practice good manners and courtesy to each other.
• Plan a menu of meals for a week that the family likes and prepare a detailed shopping list from that. Buy only what you need for the planned weekly menu. Stick to the plan.
• Have a Family Night each week, in which you have a simple, low-cost meal such as pasta and salad. It is often possible, at 10 for $10 sales, to buy a package of pasta and a jar or can of spaghetti sauce for $1 each. Add to that your salad and a low-cost package of cookies. Save up to go out for dinner once a month.
• Instead of going to the movies, rent a movie and invite your friends in for popcorn and a movie at your house. Or, have an evening of playing board games at home. It's fun!
• Take good care of your car. Organize your errands so you use less gas.
• Your children could have some say in decisions about money but must realize that they are not in charge. If they want things you cannot afford, it is up to you to be fair but disciplined about the family budget.
• Learn to enjoy the challenge and fun of thrift shopping. Most of these stores nowadays are clean, well organized and have an excellent selection of merchandise at low prices.
• Maintain a good attitude. Don't feel sorry for yourself.

If you know of a person or family in need of help, go and see them. Express your concern and perhaps ask what is their greatest need. If you can take care of it, do. If you can't, see if you can locate an agency who can and will. Stay in touch with them.

And last, but not least, be responsible for the atmosphere you create around you. Do not let yourself get into the Henny-Penny mode of running hither and yon, crying, "The sky is falling! The sky is falling!" Do not talk constantly of how bad things are. Be as positive as you can in thoughts, words and actions.

Judy Miller Gerard is a Henderson resident and can be reached c/o the Home News, 2360 Corporate Circle, Third Floor, Henderson, NV 89074; by fax at 434-3527 or e-mail at [email protected].