economic binge and purge

I should be more worried about the economy. But I am old enough to have seen a couple market downturns now, so I'm not very phased. Plus, I grew up poor. What I'm concerned about is that even I recently found myself lured into the unsustainable "we can have it all" American attitude.

For purposes of my job hunt I bought a suit from the Mall, full price. I also got highlights in my hair to cover some untimely gray. Lately, I haven't thought much before eating out. I buy moderately expensive groceries, including convenience foods. I bought new furniture. I stopped shopping at the thrift store. I contemplated sending my children to private school.

All things that my husband and I can afford right now, thank goodness. But we're not rich, so keeping the complete "poverty may strike at any moment" mindset intact may be a better strategy for us long term.

Since we got married we have stuck to a cash only economy. We purposely (and luckily) carry no debt. Even liberal me is starting to get angry about bailing out other people's extravagance and bad decisions. American seems to have a problem, and the bailout seems like an act of enabling rather than the intervention or hitting rock bottom that it needs. We go from spending spree to tightening our belts without the foresight or discipline to create and stick to a sustainable budget. We buy things without saving for them first. Delayed gratification -- I'll try to remember that the next time I reach for my wallet.