| Originally Posted by gossip girl |
I guess I am of the opposite mindset. Don't get me wrong I think it is fantastic that you are all working hard and cutting back. I think whatever plan you choose, it needs to make you feel better and secure. That is the most important thing.
I feel that if everyone cuts back, ie) not sending laundry out, not eating out, not buying things, then the economy shrinks. If you stop sending your laundry out, and everyone in your neighbourhood does as well, then that drycleaners goes out of business. And then they can't support their families. If I don't buy any shoes this year, and enter shoe rehab like everyone else, then salespeople will lose their jobs because they are not needed. If I stop travelling, taking taxis, etc, then more people could lose their jobs! I know I am exaggerating, but it is just how I feel. (Or how I am justifying spending most likely). But then more and more people will sell their investments to make ends meet perhaps. And the market will continue to decline. My job is 100% secure, so I guess that is why I feel this way. If I was more concerned about the even remote possibility of being out of work for awhile, I would definitely cut back.
I did increase my monthly savings going direct into my savings account like most of you...If it is out of my checking account, then I won't spend it!!! But I don't plan to cut back really.
I guess I will single handedly stimulate the economy! One pair of shoes at a time. Hopefully my FI never reads this! He is a saver!
This is also coming from someone who's FI works for a hedge fund and my p/t bartending gig is in the financial district- so I literally hear the drama from all the Wall St. guys. It's quite deperessing and I am glad that I only do it 1 or 2x's a week. As for FI- he's trying to educate me about it I guess- because I will admit I have not done anything to secure my financial future in the past.