This crisis made me rethink the ways that I was living life. First of all I started to save. I remember when I wanted to buy anything in the past. I used to wait some time and then save some money and then buy. During the last two decades the “I want it now mentality” was busted by all the credit available… just charge it to your Visa or your Amex… you will pay it later. Well, there is no free lunch so many people are deep in debt now. I stopped spending so my revolving balances are going lower and lower. It really feels like a cleaning diet… and this is a good thing.
I stopped wasting so much. From food to clothing I started thinking that we only can drive one car at a time so we might not need so many toys. In my garage there is a Toyota now which replaced an expensive BMW… which is almost worse as a high maintenance bad girlfriend. I save tons of money in gas and the parts are also cheaper. My company feels the difference too. I stopped spending in costly conference trips to Vegas and started to review all my expense accounts. The result is a much efficient performance of the operation. I tell you this: you do not review your expenses much during good times but during bad times it is good to tight the belt a little bit.
Finally I started to appreciate walks in the park with my wife, cooking at home and having a good cup of coffee with friends. Guess what? This crisis made me lose weight since I am not going to too many fancy restaurants anymore and also my personal relations improved.
This crisis will not be forever and soon we will see that sales will come back and we will be facing a new economical expansion, we do not need to be economists to understand that but I want to get the best teachings of these hard times though: build reserves for the bad times, do not spend in stuff that you do not need and enjoy the simple things in life… usually those are free.
My friends have an amazing week! Thanks for reading the blog!