Head in the Sand Economic Advice

I'm not exactly known for being "in the know" when it comes to pop culture or news breaking current events. I'm still rather amazed that I witnessed the twin towers disaster as it was happening. How was I even up at that hour, with the TV on no less, watching news? What a toxic thing to start your day with...or end it for that matter. News. This is so not the me of today, that's for sure.

That being said, I have been pretty engrossed in the election process this go 'round. I was out of the country last time and look what happened! I did have an absentee ballot, but I wasn't really "involved" otherwise. And as much as I try to keep my head in the sand, this whole drowning economy discussion is everywhere I turn. I'm one of those people who feels that continually talking about a bad thing doesn't make it better. It makes is 'badder.'

I happened to catch Suze Orman, the financial guru, on Oprah the other day and her top five suggestions for action during this crisis are as follows (I've summarized in my own words of course):

1. Don't Panic (do not become "mattress man"), leave your money alone and keep investing in your retirement plans
2. Be sure you have health insurance and term life insurance
3. Make sure your investments are in safe places i.e. government backed treasury bills, bonds and notes and treasury money market accounts for example
4. Make sure your financial institutions are FDIC insured
5. Stop spending on things you cannot afford (duh-easier said than done for most)

Not having held a proper job since August 2002, I feel like I've been practicing for this day. For the last six years I've nearly mastered the ability to survive in exactly this type of economy. Of course I have credit card debt. I'd love to say I didn't. I didn't until I stepped my big toe back onto American soil. It's almost as if they stamped my passport as I re-entered JFK customs and handed me plastic with debt already on it just to get me started and make me feel welcomed back to my homeland.

Over the past six years I have actually learned to live without a lot of the luxuries I had been accustom to while slogging away at my decent paying soul sucking insurance job. Things like a nice car (or any car for that matter), a house, ski condo, water front recreational property, expensive, yet fabulous, hair cuts with artful color jobs, new skis every three years, boots, and a variety of other expensive sporting equipment, home improvement expenditures, and pretty much whatever else the heart desired. We (my ex-husband and I) were not wealthy by any stretch. But we did OK and although didn't live as extravagantly as some of our more affluent friends, we had our share of luxuries.

Today I manage to ski on 9 (?) year old skis (gasp!) and boots even older. I would love a new setup, but it's not going to stop me from skiing when I have the chance. My golf clubs were my mother's from the early 80's! Yeah, I get poked fun at every time I break them out on the course, but how much do I care? A little. Sure. But if I get to golf at all, I'm pretty excited, so the relic clubs aren't going to stop me.

So here are my top 5 practical ways to get through this economic recession:

1. Don't panic. I like that one of Suze's best. Just calm down, people. This was bound to happen at the rate we were spending, but it's going to turn around. It always does eventually.

2. Don't even open your financial statements if it's going to stress you out. Just put them through the shredder immediately from the mailbox. Then follow with a nice glass of red or a long walk (or both).

3. Find cheap entertainment. I keep harping on this fact, but there is so much to do in this town that is free or cheap, i.e. galleries, free museum days, art walks, park walks, free wine tastings, free musical performances, the library (okay, I hear you sighing). Check out what's happening and go enjoy it.

4. If you absolutely must shop cause it's in your blood and you just can't stand not to, develop the knack for thrift stores. Even if you don't find anything, the entire process is amusing in and of itself and there's your cheap/free entertainment for a rainy day. By the way, I just picked up a cute pair of Kenneth Cole shoes for $3.99 at Goodwill. How could I say 'no?'

5. Participate in some do gooder volunteer activity. Okay, so you're not the volunteering type. You don't have time. You'd just rather not. You've got your own problems. Then just do some favor for a friend with no strings attached. It really does put everything into perspective and make you feel like all isn't lost. Cause it isn't. We've still got our humanity, right?

tips 6-10 include:

6. Practice yoga (or just exercise in general)
7. Book a trip - preferably out of the country (yes, run away from it all)
8. Take on several odd jobs- you'll be too busy to worry or spend money
9. If it's available to you, have sex. Lots of sex. (this is not available to me, so I will do more of #8)
10. Laugh often