Tracy Davidson

Sometimes we need to reach back to economic times forgotten. Yea I know some history is not good, however we are talking about money, right? I’m not going to provide you with an academic parallelism between this “depression” and the “Great Depression” however I would like you to think about that area. If you are too young to remember, think about the old movies that you might have seen.

What am I talking about? The Simple Life… I recently had breakfast with a well-respected accountant. As usual we talked about investing and investing ideals, the effects that the bear market had on portfolios and financial behavior, and the cost of living today versus yesterday. He left me with this, “I’m doing better than my father however it seem things were better back then when we had a simpler life.”

That conversation reminded me about one of my favorite old jazz standards “Give me the simple life” performed by the well noted Ella Fitzgerald in 1969, written in Ruby and Bloom in 1959. Today we are spending money on everything- cell phones, the Internet, cable TV and radio. The homes we are living in are much grander than our parent’s home. The cars are more expensive and faster, and the coffee is sweeter and more expensive. We are spending more money on stuff… we need? In the mean time the bills keep rolling in on the stuff… we need? I have always said it is not how much you make, it is how much you spend. Don’t get me wrong, have some fun along the way to retirement, I encourage you to have responsible fun along the way; however, we must consider what we are spending on today.

I’m going to challenge you to find something to cut back on, something you “need”. I have cut back on my cell phone usage; hard at first, then I became free from care and strife (stress). Write back to me with what you cut back on and how you are doing with that. My goal is to help Philadelphia become the most financially fit city!!!!

It’s the simple life that we are trying to achieve …. It’s the good life, full of fun that seems to be the ideal.

I will leave you with a quote from the song “Give me the simple life” that will hopefully remind us of lessons forgotten and money saved.

“A cottage small is all I’m after. Not one that is spacious and wide A house the brings the joy and laughter With the ones you love inside You take the high road; I’ll take the low road Free from care and strife Sound corny and seedy, oh yes indeedy Give me the simple life.”

Erwin Gant, President

Gant Private Financial Management

Tags: consumer, economy