Recession Mama











{July 17, 2009}   My Top 10 “Should’ve Done…”

–by Carla

top-10-list

You know that old (and sometimes annoying) saying, “Hindsight is 20/20”? It’s been stuck in my head a lot lately, along with that damn “New Normal” phrase that everyone’s tossing around (including…possibly…me, at one point) and honestly, if I hear one more person utter those two words, I think I might grab their earlobe, give it a good, stiff twist and tell them to shove it. But “hindsight” is different. Learning from my mistakes isn’t a bad thing; I actually enjoy it. I’ve been wondering what my life would be like NOW, had I done things differently (in the financial department) in the past…KNOWING that a recession was looming and would change so many lives in so many ways. So, for your reading enjoyment, I’ve come up with my Top 10 List of Things I Would Have Done Differently Had I Known We Were Going To Be In A Stupid, Lousy Recession:

 1) I would have never started coloring my hair.

2) I would have learned to cook…better.

3) I would have stashed money away …lots.

4) I would have paid down all of my debt.

5) I would have bought, rather than leased a vehicle.

6) I would have traveled more (..’cuz I can’t now).

7) I would have mapped out a 5 year financial plan (at least).

8) I would have saved a year’s worth of expenses/emergency fund (like Katy..you go girl)

9) I would have never started plucking my eyebrows (that’s expensive to keep up with…especially when you’re Lebanese and you grow hair like Chewbacca.)

10) I would have never started coloring my hair all those years ago. (It’s so worth repeating)

Although I’m sure there are deeper, more profound things I should have done differently to have avoided being in this financial boat right now, these are the biggies for me. But hindsight is 20/20 and we’re all getting used to this new normal, aren’t we?



Katy says:

I think there are always things we feel like we should have done. But I think the key is to learn from them and just do better now…in the present. I’ve made plenty of mistakes…and that’s the only reason I was able to save and pay off car, debts, etc. If I’ve always had a full-time job with benefits, I may have never thought about paying off my debts and having a savings cushion. I would’ve taken it all for granted. I only started thinking about it after I was laid off for the first time, and I still didn’t get my act together until years later. I’ve only been debt free 2 or 3 years, and I’ve only had my year’s worth of savings only about a year and a half ago (right before I bought my own place). So it’s never too late!



recessionmama says:

From Heather, Carla you are relatively young when it comes to your finances.So you have time to build a big nest egg. It’s a tuff lesson to go through but just think you’ve learned a TON over the past year. This experience will make you a better “money” person in the future. My husband and I were fortunate enough to learn through our parent’s mistakes. They did the best they could. We just wanted to save and plan better than they did. But sometimes that’s difficult, even impossible when nothing is coming in. But things will change! This recession has taught us all to plan ahead and be prepared for difficult times.



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