Regardless of where you stand politically, it’s likely that this recent election has ruffled your feathers.
The nation watched with heightened anticipation as the votes determined the next U.S. leader. For Democrats, the idea of Trump winning stirred anxiety, and similarly, Republicans dreaded a Clinton win.
With the decision now clear and Trump set to lead, reactions are varied: some express satisfaction, while others are openly or silently upset, protesting, or even jokingly considering relocating to Canada.
The reality is, the election is over. It’s time to reflect on the intense emotions this political cycle brought to the forefront. A significant concern for many was the potential financial fallout, depending on which candidate secured the presidency.
The current political landscape might seem daunting, but part of our unease, I believe, is rooted in our dwindling capacity for self-reliance. Our tendency to live beyond our means, with little to no safety net, amplifies these anxieties.
A Nod to Our Ancestors
Historically, Americans have showcased remarkable self-reliance. Necessity dictated a life where meals were homemade, and ingredients weren’t just a store visit away. Without the convenience of global imports, people cultivated their own food. With money being scarce, they had to be inventive.
There’s much wisdom to be garnered from our predecessors.
Steer Clear of Debts
Clara, the beloved face of “Cooking with Clara”, shared how her family navigated the Great Depression better than most. Owing to the fact they owned their home and carried no debt, they endured tough times with grace. Their vast garden ensured they had sufficient food. How many of us today are in such a secure position?
Maintain a Robust Food Supply
Examine your fridge and freezer. Could you manage two weeks without a grocery run due to unforeseen circumstances or a sudden financial crunch? Historically, people preserved food for leaner months. In contrast, many of us now depend on frequent grocery trips. A single unexpected event could leave shelves bare. It’s prudent to be prepared. Our family, for instance, keeps a stocked pantry, ensuring we’re equipped for emergencies.
Prioritize Savings
Historical data shows that post-World War II, up until the 1980s, Americans were better at saving. However, recent trends indicate a sharp decline. Citing the Federal Reserve, “From the 1950s, savings rates rose from about 7.5% to roughly 10.5% in the 1980s. But since then, it has plummeted, averaging just around 1.5% in recent years.”
To navigate political uncertainties, reviving the self-reliance of our forebears is crucial. Living precariously from a financial standpoint is risky. Irrespective of political leadership, it’s incumbent upon us to ensure our financial stability.
Where do you stand on financial independence? How do you work towards enhancing your self-reliance?
