from riches to rags anyone? (Full Version)

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imforlife -> from riches to rags anyone? (7/5/2008 7:33:55 PM)

Has anyone gone from being financially secure to not being? My husband is self employed and up until about 3 years ago, we were fine. Money wasn't an issue, we went on trips, bought luxury items and now things have changed. More people in the same business have come into the area and it has hurt him. They are able to provide services free or based on a person's salary. Anyway--that is why things changed for us. Add in rising prices and things have gotten tough.

So, I am blue over it and don't know how to cope. I realize I am acting like a sissy baby, but things don't look like they are going to change.

My question comes down to this: How do I cope with not having the money we use to????

Thanks

BYW--its not quite a riches to rags story, but man we are feeling it!



LCannon -> RE: from riches to rags anyone? (7/5/2008 9:58:58 PM)

Like my uncle said, 'We didn't even know there was a Depression; we lived like that anyway!' I bypassed the 'riches' phase so you can't miss what you didn't have and, by golly, I survived but I'm not a whiner by nature.



3cappuccinosmom -> RE: from riches to rags anyone? (7/5/2008 10:58:31 PM)

quote:

How do I cope with not having the money we use to????


You make a written budget, adjust your living standards and expectations, and live within your means.

I'm a daughter of two doctors, and although they lived fairly frugally (for Americans) it was definately a shock for me to arrive in "the real world"--my husband is an immigrant, had difficulty getting living-wage work for a while, and we struggled financially. It took me a little while to adjust my view of "need" and learn to spend the little money we had very frugally. Dh would say I'm still learning. [;)]



OneOfHisJewels -> RE: from riches to rags anyone? (7/5/2008 11:36:45 PM)

Could it be time for him to get a job with a company, rather than being self employed? Being self employed is a nice IDEA, but lots of people just don't get to be.



TonyRush -> RE: from riches to rags anyone? (7/6/2008 1:23:41 PM)

The most important thing you can do is to take responsibility for your finances/income and really "get" that you CAN impact the amount of money coming into your household. You're not limited to whatever is coming in now.

Tony



BJinWA -> RE: from riches to rags anyone? (7/6/2008 5:45:53 PM)

yup, i have a saying, we used to be rich, now we're blessed.

i was married for 20 years to a man with a cushy 6 figure income, membership in the country club, foreign cars, blah blah blah.

then came the divorce and income was about 25% of what it used to be....

budget, budget, budget......oddly enough, i am convinced it was an unbelievable blessing, especially for the kids. they thought everyone flew in charted planes to football games!!!!!!!!!

now, 14 years later, would you believe my net worth is significant and kids are educated? we have learned to identify "needs" versus "wants".

you can do it....it's all about attitude and commitment. good luck to you.

btw, it wasn't easy....but it WAS worth it.



BJinWA -> RE: from riches to rags anyone? (7/6/2008 5:49:03 PM)

quote:

ORIGINAL: OneOfHisJewels
Being self employed is a nice IDEA, but lots of people just don't get to be.



a friend of mine once said..being self employed is great because you get to work half days. and because you are your own boss, it doesn't matter which 12 hours you work.



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