Research Hiatus!

I'm in the process of reading books about money management, but most importantly books and materials regarding living more simply. I found today, for instance, that most books regarding personal money management tend to have titles like "Become a Millionaire in 7 Easy Steps"...(I'm paraphrasing), or they are giving advice for investing wisely. Not exactly titles for the average Joe out there. These are not the types of materials or advice I'm looking for in my journey - I'm looking more for sustainable money management and living in simplicity. Not that I want to live in a tent and eat grasses for the rest of my life...but there is a kernel of wisdom in all the information out there regarding voluntary simplicity that I want to hone and develop in terms of managing and staying out of debt. We are living in uncertain economic times, and I'd like to feel (and know!) that regardless of the fluctuations on the global market, that we will be safe and in a position whereby we will not be horribly negatively affected by whatever comes our way.

So again, please bear with me while I do a bit of research and wrack my brain for creative solutions that don't require investing heavily in the stock market, money markets, mutual funds, or in exploitation of any kind.

As far as my own financial picture goes at the moment - I've given up all but one credit card. At the moment my husband has hidden them away, while I try to come to terms with the idea of actually cancelling them. We are currently concentrating on paying down the high interest credit cards, while making minimum payments on low-interest lines of credit and low-interest credit cards. We really can't absorb any more debt without serious consequences, so I'm more than willing to change my habits and lifestyle to accommodate a real change of status for us.

And yes - while my husband is much better with credit cards, there is the little factoid that I'm the one who takes care of most of the family stuff...like birthdays, Christmas, any travel we do, special occasions, and so on. So while it looks like I've racked up a lot of debt, the truth is that it is actually a lot of family-related things. My husband and I are both very generous people with donations, gifts, charity...you name it. We are both now trying to cut back with many things, while still being charitable! It is a shared responsibiltiy, and we're taking it very seriously these days.

Cheap clothing???

I've been spending a fair amount of money on clothes lately...now, in fairness, this was a necessity - having lost 85 pounds over the past 3 years. I'm now within a mere 5 pounds of my ultimate goal, so I thought it was time to buy a wardrobe that actually fits me...this includes outer clothing...and inner clothing. It's just not attractive when your bra has folds in it that show under a form-fitting dress or T-shirt. Yes, I'm a little vain!

Then, a couple of days ago, I read an article in the Globe and Mail regarding the high cost of cheap clothing - a brilliant article, really... http://www.theglobeandmail.com/news/opinions/the-high-cost-of-cheap-fashion/article1627251/

Considering my penchant for fairness and equality, I felt a bit contrite after reading this. Since I don't shop at high end stores - not that that would make a significant difference in terms of inequality or world economics - I'm now thinking about the women in the Global South who make mere pennies sewing the clothes that I've been buying. It's a dilemma for me - should I be shopping at second-hand stores? Should I save my money to buy clothing made in Canada? What clothing is even MADE in Canada these days? Maybe I should make all my clothing???

I obviously have my work cut out for me in researching this conundrum. Meanwhile - I'm going to try to not feel too guilty about the fact that I wear clothes...after all, my daugher just commented yesterday that it wasn't fair that my wardrobe was much better than hers now!

Facing My Inner Dragons

I was born in 1952 - the Year of the Dragon. Generally speaking, I love dragons...they are mythical, beautiful creatures of awesome power. As the sentiment reads on one of my favourite cards, describing the attributes of the dragon:

Fearless and decisive, it moves with bold, confident steps.
Its image stirs the imagination and leaves us humbled and in awe
until we accept the wisdom that it dwells within each of us.
It is the part of the human spirit that never falters, never fails.

It is this very power - the lure of consumer goods, the ease of pulling out that credit card when there is no cash readily available, being fearless and decisive about spending money that I don't actually have - that has me in the predicament I'm in today. I'm now searching for a different sort of power - more benign, full of wisdom, hope, and confidence in my ability to make good financial decisions. I know that the postive aspects of the dragon DO live within me, and that I can be fearless and decisive without drowning in debt!

Thus I begin this year of blogging about debt, consumerism, and my own personal journey to halt the descent into credit card slavery, and to nurture the dragon of imagination, creativity and decisiveness. Please bear with me in my journey, comment as you like, and read along as I explore my own personal options while also voicing my opinions and sharing some research into our consumer culture, and the impacts that we have on one another - not only here in Canada, but around the globe.