We are fast approaching the end of 2023, which likely hasn't been the best year for many people, including myself. But, neither was 2022, 2021, 2020...
Do you remember the last really good year?
Because of the way the economy is set up, it means that a lot of what makes a year good or bad for people, depends on how the economy is performing. In good times the majority are flush and not concerned to much with money, or losing their jobs. In bad times however, jobs are lost, cost of living increases and there tends to be more political unrest. When people are suffering economically, governments tend to engage voter feeling mechanisms and drive support through polarization.
We are definitely seeing polarization now.
However, at least economically, we seem to have turned somewhat of a corner and it does look like there will be some decent movement toward the end of 2024 in the mainstream markets. Even at the company I work for which has reduced headcount in the last few weeks, it was more about restructuring the organization to prepare for a shift in the economy, than saving money.
There are different reasons to "save money" in general. There is the type that many are doing now with the spiraling cost of living, where they are trying to save money in order to survive. But there is also the type of saving in order to invest. With most people not having enough money to spend how they like and still invest, sacrifices likely need to be made to build that capital availability.
Sacrifice hurts.
That is why it is a sacrifice. If it didn't hurt, it wouldn't be a sacrifice. However, we are far less capable of sacrificing than we used to be, which might be because we are also less committed and far more comfortable skipping from one thing to the next, rather than owning and cherishing what we hold. And perhaps, it is also because what we hold isn't that valuable anymore. Most of us are renters, not owners - indebted.
While I am not a huge new year resolution person, I do generally say something off the cuff, knowing that I am not really going to put much thought or effort into it.
With exception to reducing living expenses, where is the sacrifice? This doesn't mean that losing weight, quitting smoking or exercising more isn't difficult, but where is no real "giving up of something valued" in that list, with most being the addition of something considered good, or the loss of something considered bad. There is no, giving up of something good.
I think this matters.
We all want more of what we want, less of what we don't want, but we have to also consider that given limited resources, we may have to give up on one thing we want, in order to have something else we want. Give up one love, for another love?
That is crazy talk.
And maybe that is one of the problems we face these days too, where we are unable to adequately prioritize our wants and build hierarchies that we can live by. For instance, we might want to have a nice car, nice apartment, and travel the world - but instead of giving one up to do the other two, we go into debt and struggle, slowly failing at all three. It can come be more personal than this too, where for instance an individual might want to have their freedom, have their career, and have a strong family life, under the assumption that it is possible.
Maybe it isn't.
In times of hardship however, we are forced to evaluate what is important to us materially, and morally. For instance, we could reduce our spending only so far, but at what point do we sell that family heirloom to get money for food? Or, how hungry do our children need to be before we are willing to steal from the grocery store? I am pretty sure that my "don't steal moral" would fail before I would let my daughter starve.
Where are the lines?
And this gives a glimpse into how when in need and people feel they have to make those kinds of decisions, society devolves, polarizes, becomes more tribal, and violent. Our hierarchies get reordered and the "nice to haves" get dropped down the list in favor of the must haves.
While I haven't yet identified what, I think I am going to attempt to make 2024 a year of sacrifice, where I give up on something that I want, so as to build the store of value to have something else I want later. It might be something simple but very hard for me to implement, like to stop eating sweet food, in exchange for better health. Or, it might be something seemingly easy to do, but difficult because I love doing it, like writing less so that I have more time to spend elsewhere.
There is a difference to giving up an addiction, and giving up a love.
Over the next couple weeks, I am going to think on what I am going to sacrifice in 2024 and see how hard it is to give up on what I already have and love. It is easy to make resolutions to obtain what we don't have because there is a gain involved. However, loss hurts more.
If the end of 2024 is going to be good in the economy, I don't just want to be ready financially, I want to be ready emotionally, physically, and spiritually. I am not religious by any measure, but opt-in sacrifice can bring a lot of clarity to what is actually important, and valuable.
I am ready to give up.
I just don't know what it will be.
Taraz
[ Gen1: Hive ]