It is probably on everyone’s mind daily. If you watch TV, you hear about it. If you look at the newspaper, you read about it. And probably it is a topic of conversation with your family, friends and industry contacts.
What am I talking about? The economy. The seven letter word that is on everyone’s mind. The question is what are you doing different because of it?
How do you finish these two sentences?
- The economy is forcing me to ______________________?
- No matter what I am still going to do ________________?
For me the second answer is very easy for me. No matter what, I am still going to:
- Fund my children’s 529 accounts
- Max my 401k contribution year after year
Having a little more cash on hand–even though I believe it is a great time to invest long term, we just want to be careful and a little conservative
Now your turn:
- The economy is forcing me to ______________________?
- No matter what I am still going to do ________________?
I look forward to reading your comments.
Fee Sepahi says:
The economy is forcing me to: refinance my mortgage as rates are really favorable…..
No matter what I am still going to play golf!!!!
Stephenie Gordon says:
The economy is forcing me to NOT buy new shoes…
No matter what I am still going to continue to fill my wine cellar…
so these are a little tongue and cheek, but I’m trying to stay positive!
Honestly the no matter what is to stay out of credit card debt. it was so nice to get everything paid off and i am going to keep it that way!
Beth Rounds says:
The economy is forcing me to shop less and save more.
No matter what, I will enjoy life, friends and family.
Merrill Dubrow says:
Beth,
I love that attitude!
Hope all is well.
Merrill
Karen Shapiro says:
The economy is forcing me to be more responsible in my spending…
No matter what… I am going to contribute the maximum to my pension; keep all my employees; continue to pay my bills on time and do my best to stay positive!
Merrill Dubrow says:
Karen,
Love the passion, energy and attitude!
Thanks for your contribution.
Merrill
mark sutin says:
Crazy as it sounds, i have not really changed my habits that much.
It’s a vicious cycle, if we all stop spending then small businesses go out of business. That means More unemployment and on and on.
I try to live the same way as before, maybe not as extravagant but I still go out to eat and I still invest. It’s actually a great time to find some good investments.
The bottom line is that the market over inflated itself, made a correction that got everyone nervous and then market started to tank.
I am very optimistic that we will begin to see a steady increase in the marketplace and some small but healthy growth, by next year we will be in a stronger but more realistic position.
Ginger Blazier says:
The economy is forcing me to be a little more observant of where to prioritize my spending and to help out others in more need than I am.
No matter what, I am still going to live life to the fullest, get together with family & friends for our impromptu BBQs, and give hugs to my Sheltie!
Bryan Schilling says:
The economy is forcing me to stress about my parents retirement.
No matter what I am still going to buy a new LCD TV sometime this year!
Merrill Dubrow says:
Bryan,
Interesting that you say that I feel the same way about my parents and hope they will be ok.
Have fun getting a new TV!
Merrill
krista joyce says:
The economy is forcing me to be patient with extending timelines to reach my personal financial goals and patience in my professional environment (sales).
No matter what I’m still going to be grateful with every accomplishment (big & small – personally & professionally).
Lynn Stalone says:
I agree with Mark. It is a viscous cycle and we need to guard against being too knee-jerk in our reactions. I have made some minor changes, but no major ones as of yet. My priorities remain my daughter’s education and being responsible with financial decisions in the business and personally.
However, I also am even more devoted to helping my colleagues and friends who are finding themselves looking for jobs in a tough market. These people need our support professionally, emotionally and, sometimes, even financially in the form of a consulting project or other opportunity. I am more grateful than ever that I am in a position to help others.
I still plan to take my sport fishing trip in the summer, though I am limiting the number of days so that I can take a couple people along who would not be able to afford to do so on their own.
Ruthann Chesnoff says:
The economy is forcing me to be a bit more Conservative.
No matter what I am still going to enjoy each and every day doing things that I enjoy and being with people I love.
Erin Weinland says:
The economy is forcing me to review my monthly expenses more carefully and look for deals. In fact, I probably should have been doing these already, regardless of the economy!
No matter what I’m still going to keep my priorities – family, friends, and enjoying life. I just need to be more creative now about doing these on a budget!
Steve Gentile says:
The economy is [allowing] me to:
find creative ways to conduct and perform much more personalized research and be better at it for my clients’ sake. for my CPG clients, I spend an awful long time at the market (grocer, not stock) noticing Haagen Daz pints are 14 oz (I am a die-hard B&J fan), “1 pound box” of pasta is now 13 ounces, and Tropicana loyalists STILL hate the new packaging and have switched to other brands (predicted in findings).
No matter what I’m still going to:
love my family with every breath I take, be there for them in ways my dad was not for me. everything else is secondary.
Steve Gentile says:
ps-
it is time to invest long-term Merrill. Invest in growth, which you are doing in 529 and 401k and with your clients I am certain.
Merrill Dubrow says:
Steve,
Very true – everyone of us needs to invest in our clients. The dividends will pay off down the road for sure. Appreciate you reminding us of that – very important.
Merrill
Nancy Domenichelli says:
The economy is forcing me to knuckle down and complete some tasks I’ve been putting off that in long run will help my biz. Particularly, applying for certification as a woman-owned business and enhancing my marketing materials. So I’m actually investing more dollars and time in my business than less.
No matter what, I am still going forward with the greenscaping of my lawn (Phase II) and the expansion of my back deck to include a place for the hot tub I recently ordered. I’ve been promising myself and saving to do the latter for years. (You can take the girl outta California, but you can’t take the California outta the girl…)