Why 2009 is Back to Basics

Date: 4 March 2009

I don’t know about you but every time I’ve read about the bushfires, I find myself tearing up.

Sometimes, looking at those who died and the lost children, I just can’t read anymore; it’s heartbreaking.

So writing about money and goals at the beginning of 2009, makes me think just how hard it would be to start over. That’s why I asked Louise Brogan at All Money Matters to outline how best to handle financial debts and money problems (see All About You chat spot).

Of course, for many, many families in Victoria starting again is situation normal after those horrendous fires. Even with cash handouts and insurance claims, it’s going to be very hard– emotionally and financially – post-fires. Of course, one in four victims apparently don’t even have insurances to fall back on.

When you think about it, it takes a lifetime to create what we have and then when it’s gone…well, it just can’t be replaced in one minute or even one year.

If you had to start afresh, what would you do? I guess the most important thing would be to set a realistic plan with a timeframe, get some help, and not to put too much pressure on oneself about achieving it all immediately.

I noticed that some people on TV were keen to rebuild right away and while that’s understandable, the grind of getting funds, insurance claims, legal advice, building plans and council approvals going will create delays. How will they handle that?

Out of adversity, there’s sure to be some good things. That kind of shake-up either reaffirms or totally changes one’s priorities.

Of course, many people may be losing their jobs this year with the recession, and that’s another kind of crisis.

Given all the upheaval so far, our goals will move back to basics: making the most of our cash flow, saving and learning how to improve our financial understanding. Maybe that means making a budget for the first time, and thinking about ways to cut spending and debt (or refinance at a cheaper rate).

Community, family and friends are always to be valued: recent events make that crystal clear!

All the best

Julianne

22 September 2008  "Women, Marriage and Money"

12 December 2008 "The Road to A resilient New Year"