A Family Trip and a Financial Lesson
You may know that my family just returned from a two-week trip to Denmark, Sweden, and Germany. We had a wonderful trip! We don’t normally do stuff like this. We are more weekend travelers, but the opportunity came that we could combine my husband’s work trip with my son’s spring break, and we went for it!
Facing Travel Anxiety with Faith
As I have gotten older, I am not a great flyer anymore. I have become acutely aware that when I am on a plane, there is nothing underneath me. Because we have a nine-year-old, I have tried to play it cool, acting as if I am playing with the anxiety fidgets out of boredom, not as a prayer accessory.
A few weeks before we left, my son stated that he was getting a little nervous, even though he had flown before. He was really worried about making our connector flights and what would happen if we didn’t get on the plane in time. I explained to him that this was not anything for him to worry about. This was for his dad and me to worry about and regardless of what happened, we would be ok.
Then, he asked what if the plane goes down. “Well,” I said while soothing myself with a fidget toy, “that is for God to worry about. There is nothing we can do about that. We can only control what we can control.”
Oh, how many times that mantra has been playing in my mind as we returned home to “plunging” markets, volatility, tariff fears, and talk of a recession.
Three Practical Financial Changes You Can Control
In times like this we must focus on what is within our own control. During times like this I encourage you to focus your attention a little closer to home. Doing so will help you feel more peaceful with all that is going on in the investment world. Here are a few ideas to help offset what is going on in the bigger economy:
- Postpone any unnecessary or major spending. If you don’t need it, wait to buy it until the economy has improved.
- Shop Secondhand When Possible. If you must buy something, look at a consignment or thrift store first. Except for food, the last few items I have bought for myself have come from collectible or thrift stores. At this point thrift stores are not going to be affected by tariffs.
- Eat at Home and Reduce Food Waste. For many months we have been noticing that while the price of eating out at a restaurant has gone up, the quality and service has not. That has led us to cook at home as much as possible. In addition, we have really been paying attention to what is in the refrigerator and what can be used now so that it doesn’t spoil. This habit became a regular one for us when we lost a refrigerator full of food during Hurricane Helene.
These may seem simplistic, but they will add up if you commit to them. Any additional money saved from small changes such as these can be added to your emergency savings. It will help your peace of mind to see your balance going up, when there is so much volatility elsewhere.
Over the next few weeks, the markets will continue to be sensitive to the news surrounding tariffs, so we should expect to see the markets moving up and down throughout the day.
