Thank you to all who decided to take the quiz yesterday and shared their results. Many found the results to be fairly accurate. If you haven't taken the quiz yet, please do so, and share your results.
The economic news today is not shocking, but it has the DOW taking a tumble at the moment. The GDP numbers are in for the 4th quarter of 2008, and they are showing a contraction larger than the economist had figured. It looks like the government may be owning up to 36% of Citibank as well.
I mentioned a few days ago that I would be delving into practical suggestions for dealing with a recession or even a depression. If you read any article on the Internet on this topic, you can boil down your recession/depression proofing preparations into three areas: pay off debt, save what you can and stock-up on what you will need. Furthermore, stockpiling or having a reserve of goods and raw materials can be broken down into these categories: food, personal hygiene and clothing. Yes, some of you might have other categories, but these are mine.
Clothing is the area that I would like to focus on today. I had not thought about stockpiling clothing, but as I read more and more articles from survivors of the Great Depression, I discovered a couple of things. Shoes and socks or stockings were a very needed and often expensive item during the Depression era. I read many stories of people using cardboard inside their shoes to extend their wearability. Socks are another item that wear out quickly. I don't know about you, but I do not know how to darn a sock. I don't even have a darning needle. So, I am planning to pick up some extra bags of socks and underwear for the members of my family. I think this is just smart.
Sewing skills would be beneficial in leaner times. It seems that women and men who could sew did all right with their clothing needs. I have a lot of fabric that I intended to used for different clothing items. I never got those garments made, but I still have the cloth to use for whatever I might need. Learn how to sew a pair of pajama pants. Teach your children these skills as well so that they can help. Right now, clothing is very inexpensive, but this might not always be the case. A devalued dollar will make even a six pack of socks unattainable for many.
Every family must make their own decisions on how to wisely spend the resources that they are given. I hope that this gives you some food for thought today.
Where happiness is lurking
4 days ago
4 comments:
Jennie, funny you should post this. I have been buying extra socks and underware. I started doing this last fall. And you know I have a great stockpile of fabric. LOL Winona
I buy socks in bulk - mostly so that I can have the same brand/style color sock so when one gets lost/worn, the other matches every other sock in the drawer! Much easier for dh and kids than me, but I try....
and for shoes, I try to buy the kids shoes of the clearance racks at the end of seasons, so we always have a few sizes too big hanging around the house for the next season. Dh and I are very picky about our shoes, so when we find a pair we like, we often buy 2 or 3 pairs exactly the same... hehehehe so I think we are covered on that as well.
but good post - clothing is something good to store.
i am really taking the time these days to mend and patch clothing, and i am realizing that this is something that just simply is not done these days. when i was a girl my mother wasn't terribly into homemaking, but she did know how to patch a pair of jeans, and a good portion of our play clothes had patches on the knees, lol. There is something very gratifying about taking something worn out and making it usable again:)
thanks so much for stopping in to see me at my place. i'd so love to get together...
warmest,
Diane
Jennie,
So glad you posted your blog over at T2. Today we went to Breadbeckers to stock up on wheat berries. Working on our stockpile....can't wait to see more of your great ideas!
Jessica
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