Times are tough and there’s a definite sense of “hunkering down” in the atmosphere.  This is the pendulum swing back from “over-righteous exuberance” in many arenas including the housing market!  For those caught in the vortex of having to sell due to an unexpected move, a job loss or other calamity, it is real and immediate.  For the rest of us it’s a reminder that prudent attention to finances is paramount, as knowing when you are experiencing the top or bottom of a market is only evident once you are heading the other direction!  I do believe the message here is a combination of practical budgeting while still reaching for your financial dreams.  When I started my real estate career in 1985 and interest rates hovered around 13%, a wise mentor suggested that the only way to survive my new business was to work towards securing 6 months of living expenses in a “safety net” account.  As I was raising two children alone and waiting tables at night while I attempted to establish my real estate business, this sounded all but impossible.  However, I still remember the day I accomplished that goal!  Eventually, as I added investment properties to my overall portfolio six months did not seem like enough and I expanded my safety net goal.  We need to constantly re-evaluate our revenue, our budgets, our goals and our dreams to reflect the current state of our finances.  In every area of our life we should “buy the least we can buy and still be happy”.  That’s, of course, different for all of us! 

In these trying financial times, I think negativity and fear are not our friends.  We are all in this together.  If we have a steady income or savings, we need to support our economy in any way we can.  It’s a great time to buy a lot of goods and services as negotiation is ever-present.  Let’s do what we can to get our economy buzzing.  Our state economist, Tom Potiotowsky, spoke in Ashland and says there are indications that the 2^nd or 3^rd quarter of 2009 may be the “technical” bottom of this present recession.  If we can stabilize our financial markets, 2010 may see an upward swing in our economy.  I’m going to make a conscious effort to believe he’s right!!!