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Lessons Learned from the Economic Downturn

By Kacy Faulconer |

I really hated the economic downturn. It wasn’t, oh what’s the word, tons o’ fun. Now that we are just starting to come out of it (it’s over, right. . . RIGHT?!), I’m getting some perspective on it.

My husband is an entrepreneur who runs his own business. We’ve had modest highs and livable lows. Over the last few years we’ve gone without paychecks for l-o-n-g stretches and financed his businesses with credit cards. I don’t recommend.

I have not experienced severe hardship. People have suffered financially much more than I have. But things are tight for all of us. I’ve bounced checks to my children’s school. I’ve had my credit card declined at the gas station. I’ve fed my family out of food storage. And as much as I hate learning lessons from being poor, I have learned a few things. Here’s some hard-won insight from the economic downturn after the jump.

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Lessons Learned From the Economic Downturn

Be a Good Steward

I have never been more grateful for material goods than during tough financial times. Housework is a pain? Face the threat of losing those toilets (along with your house) and you'll be glad to scrub them! When we were the most strapped for cash, I realized how wasteful I had been before. I had squandered and not taken care of what I had. When I realized that I wouldn't be buying anything new for a while, I valued and cared for what I already had.
Photo Credit: MorgueFile

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More of my writing on Kid Scoop

How to Prepare Your Kids for a Zombie Apocalypse

Talking Politics With Kids

15 Reasons I’m Glad My Kids Have a Sister

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About Kacy Faulconer


Kacy Faulconer

I'm Kacy Faulconer. I'm your friend. Read more from me at Every Day I Write the Book. Read bio and latest posts → Read Kacy's latest posts →

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7 thoughts on “Lessons Learned from the Economic Downturn

  1. La Yen says:

    I thank you for writing about your highs and lows–I think we need to talk more about this. Because there seems to be no representation of this “functioning broke” that so many of us face, and when we are going through it we feel like the only people in the world who are facing the challenge.

  2. Kacy Faulconer says:

    Yep, it actually feels quite embarrassing. But when friends know where you’re coming from they are more likely to pick up lunch when your card is declined. Lisa V has done it for me!

  3. Aela says:

    Your life during the economic downturn sounds a lot like my life during *anytime.* Two jobs, for me and the spouse both. Cutting corners and going without “luxuries” (exercise classes, etc.). Loving unconditionally through it all because that’s what we signed up for. But we have a warm and happy home, food in the fridge, and gas in our cars. I think it comes down to gratitude. I’m thankful for what I do have, and I know that others have less. Being grateful and not bitter about life and your position in it makes a world of difference.

  4. Sam says:

    I was definitely raised “without cash.” And I’ve never really felt like I missed out. Definitely no camp for me, I had hand me downs, and I didn’t get every toy I asked for, but in the end, if makes NO difference!

  5. Hailey says:

    There is SO much money in this town that I call home. And so many spoiled, entitled kids whose parents have never said no to them. I think being poor definitely helps your kids build character and learn the value of hard work. It’s also nice because they stop asking for things when they know the answer will always be no. And bonus: it makes Christmas actually exciting for them!

  6. Shelley Fosse says:

    I like what La Yen said. I know there is such a thing as TMI, but I’ve learned to simply say, “I can’t afford it,” and I’m often met with an emphatic “Me neither!” And then we all laugh and feel better.

  7. Lauren says:

    sounds like you learned some really valuable things – thanks for sharing!

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