Time to Face The Fact: I Am Poor

Posted on March 21, 2008
Filed Under survival |

Flexo at Consumerism Commentary posted an article on CNN Money’s Series: America’s Money. It led me off to read the other stories from people facing economic challenges. It seems that quite a few people are facing hard times lately.

I followed another link and ended up reading about Bear Stearns biggest losers. I found myself wondering what it would feel like to lose 991.7 Million dollars like James Barrow, Principal at Barrow Hanley Mewhinney & Strauss. I was feeling a little sorry for them and remembering how devastated families were when the stock market crashed before the Great Depression. It would be hard to go from affluent to broke.

That’s when it hit me. I’m poor. Over the last year, I have pretty much lost everything that I had with the exception of my house and I am struggling to keep that. I have gone from middle class to poor. I am earning less than $12,000 a year right now and qualify for food stamps.

But you know what? I am surviving. My life has changed considerably but I still make it from day to day. I still do much the same things. I get up and go to work and I come home and relax. I worry about how to pay the bills, but I worried about that before too.

I am reminded of a quote, “Things can only get better. Don’t you know that a drowning man can’t get no wetter.” by James DeWar. There is no where to go but up for me. I have to rebuild my income and replenish my savings and retirement but I think I can do it with a little luck, a lot of hard work and a good dose of frugality.

As to the families in America’s Money, wake up, quit whining and do what you have to do to survive the tough times. You might find something far more valuable. I found self esteem. I’m not proud that I am in this position but I am proud that I am tough enough survive it.

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Comments

6 Responses to “Time to Face The Fact: I Am Poor”

Debt Free Revolution (12 comments.) on March 21st, 2008 11:11 pm

No, poor is a state of mind. You are broke right now. Broke is much much easier to overcome than poor.
CindyS on March 22nd, 2008 5:47 am

I thought about that when I was writing the post. I guess I associate being broke with spending too much money. This is different, I am not earning enough to live on. It will get better as the business grows if I can survive that long. The plumber was telling me the other day that he “bled to death” for 3 years after he started his business down here. I don’t know if I can last that long.
Lisa (1 comments.) on March 22nd, 2008 7:23 pm

I don’t know if I can call myself poor, I know of others who have so much less that I don’t know if I should. I’ve not thought of myself as broke but I guess I am, every time I buy something I am spending money that I owe to someone else.
Chin up CindyS and remember that, “this too will pass”! I wish you all the best for your business.
Bouncing Betty (9 comments.) on March 24th, 2008 3:14 pm

I think you have made some great strides in the couple months I’ve been reading your blog. Right now I don’t see myself as poor, just a few steps above broke. Things are slowly getting better for me and they ARE you getting better for you. You have reached a settlement with your credit card company, you are looking for a roommate to share some of the housing costs, you are working to get your business up and running, it is falling into place, just a bit on the slow side. We are all here for you!
CindyS on March 24th, 2008 7:57 pm

Lisa & Betty, It will pass and it will get better and there are worse things in the world than being broke or poor. I wish that I had learned the things that I have learned over the last year, 20 years ago. Some days I am not sure how a reasonably intelligent woman has made it to my age without having a clue about personal finance but I have.

I don’t blame anyone or anything but myself. There were plenty of contributing factors but I was the one who made the decisions. I guess it scares me a little about how many people are in the same boat that I am, financially clueless.
naughtylittledebt (2 comments.) on March 31st, 2008 2:19 pm

This really made me think. I am so glad I have snapped out of my spending ways. You never know whats around the corner, and it’s better to be prepared and focus on your goals. But, I am so greatful to be able to feed my famly.