are we really that bad off?

Everywhere you look there is bad news at the moment when it comes to money.

Recession, depression, government deficits, job losses, mortgage stress, people losing their homes, share market crashes, companies going bankrupt, currency deflation and inflation, financial crisis.

It seems that money is on the minds of everyone. Last week, my mother-in-law commented on the movement of the Dow Jones over coffee. Since when did everyday laypeople like us start talking about share market fluctuations as part of everyday conversation?

A bit of perspective

A few things I’ve read lately have put things into perspective. In these times of global financial crisis those who suffer the most are those who live in developing countries. According to The World Bank, the economic crisis is set to drive 53 million more people into poverty in 2009. This is on top of the 130 – 155 million people who were pushed into poverty in 2008 due to soaring food and fuel prices.

Millions of people live in extreme poverty (earning less than $1 a day). According to a UN report, the world will see an increase of between 200,000 and 400,000 in infant mortality rates and child malnutrition. Millions of children face the prospect of long term cognitive damage due to malnutrition and starvation. The Save the Children Fund predict that 10 million more children face starvation, with 3 million expected to die as a direct result of the financial crisis. And we haven’t even touched on the world food shortage crisis that preceded the financial crisis and will continue for many years to come. 

On the other hand, here in Australia, we have stimulus payments, government allowances, social security, unemployment benefits, Medicare, emergency housing, access to education, charities, churches, humanitarian organisations and refuges.

You and I won’t starve if we lose our jobs and our houses.

I also read some heartening statistics on FruGal’s blog. According to a report in the UK commissioned by the Charities Aid Foundation, 77% of people are giving just as much – if not more – to charities since the beginning of the financial crisis. The report also revealed that people’s values are shifting away from material possessions and towards helping others in need.

With many of us here in Australia being stimulated by Kevin this month, what are you going to do with your $900? The world bank suggests that rich countries contribute 1% of their stimulus money to help fund poor countries in need. That’s $9 for you and me.

Time to give some more?

So, are we really that bad off?

Today I challenge you to turn off the television and the computer, put down the paper, off with the radio and the mobile phones. Stop listening to bad news for just a few moments.

Instead, grab out a pen and paper and write down the things you are grateful for. Even if you have lost your job, or have lost your home, do this exercise. In fact, you may need this exercise more than anyone.

Today, count your blessings and think about those who truly are suffering because of the financial times we live in.

What are you thankful for?

Have you read these posts?

1. good debt v bad debt – is there such a thing?