When I say post-consumer, I mean the one percent of richest people in the world have extracted what they can of what we have.
Something’s now got to give.
Yes, I’ll buy at the grocery store, gas station and drug stores, but a budget like ours can’t afford much extra. If shoes and clothing wear out, I’ll buy some on sale. Maybe some books, or a cup of coffee at a restaurant or shop will be bought, but little else that is unnecessary for daily living.
No longer do I just get into my car and drive in wanderlust.
We hope to avoid potentially big and unexpected expenses associated with an accident, automobile malfunction, health concern or home or family emergency. In a capitalistic society, all of those unexpected expenses are good for someone, as they generate revenue for them and unwanted expense for us. The bottom line is that we won’t be generating much for the consumer society overlords to rejoice about.
That said, to go on living in our current lifestyle, bills must be paid, and I’ll maintain paying work to support all of our creditors and suppliers. We seek to live without incurring additional debt, having to sell our home, or spend all of our life savings. We have our pensions yet if something big happened — an expense of thousands of dollars — how would we pay for it? Our pensions cover basic expenses and some debt retirement yet there is little extra at the end of each month.
I wrote the following in 2013 when confronted with the gap between my first retirement in 2009, before our pensions kicked in.
There are plenty of jobs in the area that pay below $10 per hour. The trouble is they don’t pay enough to meet our financial requirements, even if I were to work a few of them.
Year-to-date, wages accounted for 14.3 percent of income. Consulting income was another 5 percent. Adding these two amounts to consulting accounts receivable, the total is roughly 30 percent of required 2014 income. If I were to return to warehouse work at $9.25 per hour, that would generate 60 percent of required income. Low wage jobs can be a trap to get further in debt, especially if they do not provide benefits.
A portfolio that includes some lowly paid work is acceptable, but there has to be something else, a significant part of it, that pays more.
The best part of 2013 has been working in the local food system. The pay was low, but the relationships fostered by participating were meaningful. Working in the local food system offers the prospect of something more than dollars.
The job as proof reader was in my sweet spot, relevant to my writing. Same goes for my brief stint as editor of Blog for Iowa last summer. All were lowly paid work that I want to be doing.
What Didn’t Work
The warehouse work did not work because of the physical toll it extracted. Too, taking loans and withdrawing from savings, were steps in the wrong direction. Stopping the outflow of savings will be a high priority for 2014. We’ve tapped our current home equity loan ceiling, and what is left is credit cards.
How to Get There
At its simplest, based on a six-day work week, I need to generate between $94 and $125 each work day to pay our bills. To make progress, by paying down loans, we need more.
We survived the gap that year and until Social Security payments began in 2018. The coronavirus pandemic and social change it is bringing will cause an adjustment. I see these things happening.
While weather continues with adequate rainfall and favorable temperatures, growing more of our own food will be part of the solution. When we chose to live here we picked a lot with 0.62 acres: enough for a large garden. Likewise, my relationships with farmers helps secure food items we don’t or can’t grow.
Maintaining health through exercise, eating well, and regular medical, dental and eye examinations is foundational.
During the pandemic I find myself talking people through challenges. Not that I am an expert, but there is a vacuum of concern about others that pulls me in. Whether it is family or friends, it is important to stay connected now and once the pandemic has run its course.
Focus on one financial thing. Right now it is paying down debt with any extra money. Major appliance purchases (stove and dishwasher) will wait, as will replacing our current vehicles to secure reliable transportation for our last decades of driving an automobile.
If we do pay down debt, there are possibilities. We don’t want to get too far ahead of ourselves.
Most important in all this is having a life worth living and working toward that end. With that I’m prepared as can be to sustain our lives in a turbulent world.
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