Irish Times Article : Aug 7th 2012

I read this article yesterday, “When your income drops 70% you need to adjust fast” in the Irish Times online newspaper. I thought to myself how different this person’s idea of “getting by” is than perhaps others have experienced. Even at the start the writer mentions that they, “should have taken their weekend trip to Dubai” [while they could]. Have some people learned anything from the recession?

I read an article written by someone pining for what they lost and envious of what others have and I certainly don’t agree with:

” The bottom line is you can scrimp and save. You can skip your takeaway latte or you can have 10 a day…Because unless you get some serious money coming into the house – it is never going to make a difference.”

and

DUBLIN CITY IS A GOOD CITY TO BE BROKE IN “

The “scrimping and saving” that she refers to so negatively, can be the difference between living paycheque to paycheque and having savings.

Being broke in Dublin, I think perhaps could be true if you like this person have one income and own your own home, live in a nice residential area, you are entitled to mortgage relief and in about 40yrs you will still be the owner of your own home.

The reality is that for those who have had to leave and make a life somewhere else have an entirely different experience while setting themselves up. Emigrating requires an astronomical outset of financial investment, I’m only starting to break even almost five years later and consider myself lucky that I worked hard to save enough to give myself the freedom of escape.

The way I choose to live brings me happiness, but I guess I live somewhere where it doesn’t interest other people how I live, which gives me all the more freedom.

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One comment

  1. This is crazy, if your income drops, it’s time to cut back. If you are fortunate enough not to have your income drop yet, you should be cutting back to put a bigger cushion around yourself …just in case you become the next one downsized against your wishes.

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