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Question
Posted by: Recession | 2011-06-01

Will good times come again?

Hi CS,

I am feeling rather low at the moment, the recession has really bitten us as a family hard. We are struggling to pay our bills and even though we offer a small amount to repay, our creditors are getting angry and we are being summonsed. Anyway, my question to you is: have you in your lifetime ever been through such a recession? Do you think good times will come again? I have my doubts as it seems we will never recover due to factors such as interest rates, taxes, fuel and food prices rising faster than we can earn enough money......

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Our expert says:
Expert ImageCyberShrink

Some crfediors are unfeeling and foolish - small sincere repayments are much better than nothing, and help to preseve an individual's ability to recover and finish the repayments. Everything is cyclical. Better times qwill come, and we need to survive, and thrive as best we can, until they do. And next time things get good, we all need to be more careful about debts, and saving, and being better able to withstand any future dips in the economy.
The companies and institutions which encouraged people to live beyond their means and spend what they didn't have and couldn't afford, were greedy and, frankly, wicked.

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Our users say:
Posted by: Motlalentwa | 2011-06-01

Has bad times three years ago, lost my wife and child due to financial problems. Later got a well paying job. I dont forget were I am coming from

Reply to Motlalentwa
Posted by: Recession | 2011-06-01

Thanks everyone, I feel better. I feel like Phil somedays tho, that I will also lose my kids as things are getting soo expensive and the wicked lawyers out there threaten you that you feel incapable of supporting yourself, let alone your kids and parents.......

Reply to Recession
Posted by: Lee | 2011-06-01

Good times will come again. We got through World Wars and live in sub-Saharan Africa where many have never known good times. Do not become dis-spirited and do not allow your family to fall apart either. Pay your debt off gradually. As long as you pay a little each month the crdeitors have to understand - they cannot draw blood from a stone. Take your family on picnics where you pack your own sandwiches and drinks. Play ball, rent comedies, pop your own popcorn. The children will learn valuable lessons about good times not always involving money. My family is coming through, though it is still hard. Our children understood when we discussed basic financial issues with them. Children really do not need much more that to feel secure in the love of their family. I bet if you ask your kids if they''d rather live with the rich and famous than with you - they will choose you. Keep the family bond going. Better times are wished for you all.

Reply to Lee
Posted by: Phil | 2011-06-01

Yes  the sun will shine again. About 3 years back  I was about to loose my house  my cars and possibly even my kids if all that happned. (Single dad.) But  with time I got over it and things are just fine now. The secret.

1. Get on your knees and ask gOD to help you through this time.
2. Get a budget  cut out the unnessesary crap.
3. Don''t make more debt  just pay off. This way it can only get less.
4. Be patient  it doesn''t happpen over night.

Reply to Phil
Posted by: W | 2011-06-01

Recession, I am so sorry to hear about your child, now I dont feel so sorry for myself as my child is pefectly healthy. God bless you...

Reply to W
Posted by: Recession | 2011-06-01

Hi W,

I think there are a lot of people in the same situation as us. My child has a chronic illness and we had to take her off her muti as we cannot afford it. We did not manage to pay our medical aid last month........ I pray hard for our Daily Bread and that our situation will improve. Thinking of you.

Reply to Recession
Posted by: W | 2011-06-01

I was thinking the same thing this morning, we too are struggling to pay bills, keep head above water. Its the 1 June today and I have not been able to save one cent towards the end of the year, as I dont get a bonus neither does hubby and its christmas, new school cloths... you know what I mean.

Its sad I feel low but by the grace of God we will get through this. I am trying to pay off all debt, no more " plastic money"  the intrest on there just makes me sick really.

Best of luck to you...

Reply to W
Posted by: cybershrink | 2011-06-01

Some crfediors are unfeeling and foolish - small sincere repayments are much better than nothing, and help to preseve an individual's ability to recover and finish the repayments. Everything is cyclical. Better times qwill come, and we need to survive, and thrive as best we can, until they do. And next time things get good, we all need to be more careful about debts, and saving, and being better able to withstand any future dips in the economy.
The companies and institutions which encouraged people to live beyond their means and spend what they didn't have and couldn't afford, were greedy and, frankly, wicked.

Reply to cybershrink

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