SURVIVING THIS ECONOMY
Friends, these are extremely difficult times. The cost of living has risen astronomically, costing 20% more in March of 2024, than just two years ago. This means if you’re making $8000 a month at your current job, it’s as though you now only make $6400 a month. This is the actual reality you are dealing with today. Many have not faced times like this before. I wish I could say they’ll be short lived, but currently, every 100 days, the government is adding another 1 trillion dollars to our national debt. This does not bode well for the future, it is in fact catastrophic. Additionally, almost everything that has gone up in price, will stay at the new price level. Yes, gas prices may come down a bit, egg prices may come down a bit, and maybe, one day, mortgage interest rates will also come down. But almost everything else will stay high, and most will not see a large increase in their income to cover these differences. It is vitally important to act now. To devise ways to save yourself and your family money each month, in order to survive.
Though I didn’t live through the depression, I did begin my married life and family in the Carter years of the late 70s and early 80s. Those years were actually a bit worse economically, than it is now. I had no good job, and had a very difficult time finding anything. We had no health insurance of any kind, not a dime of savings, and my income was below the national poverty level. As a result, I learned some very important things that were critical to my survival, things that helped bring us to where we are today, 49 years later.
My greatest desire is to help you, my readers and your families, succeed in every possible way. Your best interest is what motivates me to do this vital ministry work and write to you week after week. I genuinely care about each and every one of you.
I offer these insights in the hopes they will help you and your family survive instead of going deeper into dangerous debt, as is happening all across the country. Americans have greatly increased their use of credit cards and debt levels, paying huge interest fees on that borrowed money.
My first valuable lesson — Get Radical. Think outside the box. Do what others won’t do. This is always what tough times call for. Americans, including Christians, are not used to making extreme sacrifices. Our parents or grandparents did it in the depression, during the WW2 years and we can too. Act now before it’s too late.
If at all possible get by with one vehicle. You’ll save on monthly insurance costs, which have greatly increased, and maintenance costs. For the first 17 years of my married life with 4 kids, we had only one car. We made it work, it took coordination, but we made it work. If one car simply won’t work, consider selling the more expensive second car, buy a very inexpensive older used Toyota Corolla, or Honda Civic, as they get great gas mileage and are very reliable. Put only liability insurance on that car and use it for all your family errands, grocery shopping, etc. I drive 20 year old Toyotas. You’d be amazed at the deals you will find on 15-20 year old Toyotas or Hondas.
I know a dad with 4 kids who was driving an older used suv, spending almost $1200 a month on gas with all the travel he needed for work. He got rid of the older suv, bought a 2006 Toyota Prius for $5000, packs his 4 kids in that car, and now spends only $120 a month driving the same miles. Saving him $1000 a month! Reminds me of the days my wife and I packed our 3 kids into our 2 door, 1978 Chevy Malibu. We made it work for years.
Find ways to save in your food budget. Again, the mindset is — Get Radical. No more pop, no more chips, no more gobs of different kinds of meat, which are very expensive. Bake your own cookies. Make your own popcorn for a salty treat for the kids. Eat lots of homemade soup. Get a breadmaker. Find the very least expensive places to shop for groceries possible. Start with Aldi, Costo, Sams and WalMart. Keep in mind, most Americans eat far more food every week than they actually need. Forget buying name brand stuff. Generally, it’s a waste of your hard earned money.
Find stuff used or free. I am continually amazed at what Americans become tired of and give away for free or sell used, very cheaply. Recently a friend of mine needed a bathroom vanity and sink, as theirs had cracked and broken. They basically found a brand new one on FB Marketplace someone was giving away. Use Americans’ discontent to your wonderful advantage.
Get a second job. I had to do this in those early years of family life. I have some fathers I mentor, who have picked up a second job. This was essential to my survival and it’s helping other fathers as well. Don’t compare yourself to what others do or don’t do. Chart your own course to economic survival.
Turn the heat off at night! Radical. I have been doing this in icey, cold Minnesota for years. At night when Kathy and I go to bed, I turn the heat down to 50 degrees, which means it never comes on while we are in bed under the blankets, keeping warm for free! This saves me often $60 or more dollars a month.
Keep in mind one of the reasons you want to train yourself to live these radical ways is so you can save and invest money for your future. This is critical to your success at wealth building for your older years, when you may not be able to work. This is the only way to achieve your freedom and independence.
Take extreme ownership of your life and finances. Take control of everything you can control. Your attitude, your work ethic, your persistence, your decisions, your willingness to do whatever is necessary to succeed, to adapt, improvise and overcome. Don’t focus on what you can’t control, go on the offensive and find ways to overcome the obstacles in your way.
Other than your mortgage, avoid debt like a terrible, debilitating disease. That’s what it is, and often it lasts a lifetime. Debt destroys your ability to build real wealth over the course of your life. It was this mentality that drove me to be radical with my finances and deeply dependent on God and prayer! I ran to God, and lived in ways many others would not. I despise debt. Debt gives others power over you.
Trust God and Pray. I cannot overstate this, nor over-emphasize this. It has been absolutely vital to my survival the last 49 years. God has never, ever once let me down. Through all the loss, terrible hardships, trials, catastrophes, over and over again, I prayed and prayed about every financial need, crying out to God to provide, to help us, to multiply our finances, to call into being what did not exist. God has miraculously done it time and time again. God answers prayer! Put your trust in Him and never stop praying about everything.
A divine financial secret. Don’t stop your financial generosity. Why? Because this obedient act has a promise from God. If you give, it will be given to you. The generous man will prosper! Honor God with your income and God will fill your barns! Think of it this way. You pay your insurance bill every month on your health, house, and car. Why? Because you have the conditional promise that if you pay the premium, they will cover you in the event of catastrophe, or losses. God makes some conditional promises to you regarding generosity and blessing. Make sure you pay God’s premium.
Many of you have older kids who’ll need you to help them understand some of the lifestyle changes you need to make as a family in order to survive. Explain it to them. Call a family meeting, communicate to them in ways they understand, walk them through the changes you’re going to make that impact them. Help them rise to the challenge of making these shared sacrifices. This will be an invaluable life lesson for them.
I close with this true story. My sainted mother grew up during the depression and WW2 years. I remember well her stories of their victory garden, collecting cans and scrap metal for the war effort, and going with her father who was a carpenter when she was a little girl. He would tear down old buildings to reuse the lumber and the nails to build new houses with. My mom, as a little girl, along with her siblings, had the job of pulling and straightening the nails and putting them in a can for reuse to build another house, and helping stack the boards. I remember her story of sleeping in one bed with her two sisters as she grew up. They often ate the same things day after day, year after year, never knowing the insane varieties of foods we spend money on today. I’ll never forget a trip we made in the 70’s to visit my mom’s uncle. He was her dad’s brother. They lived on a farm, and when we arrived, I discovered he was still farming hundreds of acres with horses, and the house had a hand pump for water at the sink! Why? Because he was Amish? No, because he refused to go into debt to farm with modern equipment. I remember the great sacrifices my mom and her family made to survive. Her stories and her life have inspired me all my life. This is part of the wonderful legacy she left to me!
Helping you become a Strong Disciple,
Because of Jesus,
Pastor Mark Darling
