Tuesday, July 24, 2007

Economic Insecurity Revisited ... Again



"If we are painstaking about this phase of our development ... [f]ear of people and economic insecurity will leave us." (pp. 83-84)

The addict examined this promise last week and wondered if it could be true. Can a person really escape the fear of economic insecurity?

The addict asked because he was feeling a great deal of economic insecurity in his life. Bills have been mounting up and fixed expenses (including debt maintenance) have started to outstrip income.

But in the past week the addict and his spouse have taken action. Together they have come up with a proactive plan to reduce debt and restructure finances. This plan was created in tandem, with no arguments, threats, or blame.

The addict and his family will sell their current house and use some of the equity in the house to reduce debt. The consequence will be living in a smaller home with less stuff. But what a trade -- roominess, stuff, debt, and anxiety for coziness, simplicity, and peace of mind. And a good set of lessons for the children, too.

So maybe there is something to losing fear of economic insecurity. Perhaps economic insecurity can be experienced and acknowledged without having to be feared.

************************************************************************

That was one year ago and now, one year later, the addict is again feeling that pit in his stomach that comes from a bad case of economic insecurity. Does anything really change?

So what has happened since?

Well the addict and his Beloved did put their house on the market, but the plan to simplify life by cashing in on equity crashed with the housing market. But that was ok. We like our house and it has been a great home for our family and we have made better decisions about finances.

Unfortunately, life is filled with all of those things that we cannot control (oh, serenity prayer, I need your help now). And one of those uncontrollables has been the addict's car.


After putting $1,200 into major repairs involving the timing belt just 3 weeks ago, the addict's car again had a major beakdown this weekend. The addict continued to drive the car after the engine had shown signs of overheating and the car rewarded him by breaking down on the side of the freeway on Sunday afternoon. Stranded with two of his children, the addict was grateful that no harm had come to any of us and that help came in the form of a stranger.

But now reality has set in. The cost of repairing the car will be more than the car is worth and the addict's finances are stretched extra tight right now. We are still paying for the recent family vacation and absorbing the cost of the repairs made to this car just a few weeks ago.

Now the addict has a giant pit in his stomach from financial insecurity. What should he do? Buy another car? Find a way to manage without the car? Repair the old car?

Fear of economic security is supposed to leave the addict, but it would be dishonest to claim that it hasn't.

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