Friday, February 6, 2009
Anxiety... Yeah I Got It
I spend a good portion of my day (okay all waking hours) thinking about, strategizing, and... well... stressing about our financial future.
I don't know about you... but... whenever I heard stories about The Great Depression it didn't sound like it was a whole lot of fun.
I'm doing my best to get a solid game plan up and running. Whether you are feeling it now or not... most likely you will be soon. I talk to people EVERY day who are either being laid off or know someone who is. Seriously... people... what if Mr F loses his job?! I don't want to get all paranoid but I also don't want to be eating powdered potatoes anytime soon.
I've been going over our spending and how it is allocated and that's what is scary. We are already down to: housing, utilities, TV service, gas, food & tuition. You'll notice there is no clothing, medical expenses... not to mention entertainment, etc.
The TV and (currently) tuition are our only *wants*. There is really only so much I can cut from our utilities and food budget. At a certain point those costs are what they need to be. The problem for us is that our mortgage (and property taxes) takes up nearly half of our take home pay. (And that's not because we got some crazy no-down-payment mortgage... no that's with over 20% down.)
You know when you read financial books and they say you should have a certain percentage of *needs* versus *wants* versus savings? Well it is currently impossible for us to do that. And I'm starting to feel like we are trapped. We CAN afford to stay in our house... but at the expense, I'm realizing, of having a rounded out life.
However, during these times, maybe that is to be expected. Maybe, right now, the idea of having a percentage for *wants* is off base.