Published: Wednesday, February 22, 2012
Weathering the recession requires resetting priorities, say those who are coping
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Weekly Herald/CHRIS GOODENOW
Mountlake Terrace City Councilwoman and real estate agent Kyoko Matsumoto Wright saves money by cooking meals at home rather than dining out.
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For The Weekly Herald/ANNIE MULLIGAN
Tyrone Hardy resets a hole on the nine-hole Ballinger Lake Golf Course in Mountlake Terrace. Hardy, who is a golf pro, is doing more of the physical labor of operating the golf course because of the high cost of hiring employees.
Higher job demands and lower pay can stretch already tight purse strings.
But while it may not seem possible, there's always more that can be cut from personal expenses, said Kyoko Matsumoto Wright, of Mountlake Terrace. It just takes a little prioritizing.
“It's amazing how much money people don't realize they're spending,” she said.
A positive attitude also helps – something exhibited by Matsumoto Wright and other local residents weathering the down economy.
“I have seen many dips in past recessions and I made it through,” said Matsumoto Wright, who is also a city council woman. “I'm going to make it through this one too.”
Setting priorities
Matsumoto Wright stays busy in her work as a real estate agent. But it's more hours put into fewer transactions, and the pay is no where near what she was once paid.
“People who are complaining about not getting a raise should look at people making one-half to one-quarter of what they made,” she said.
Working from her home balances the gas costs to drive to networking and volunteering events that play a critical role in her line of work. She cut the number of phone and cable lines in her home, realizing they were excessive. Large-scale projects, like painting her house, are on hold. She's learned how to do basic home repairs and cooks more to save on dining out.
“People should really look at what's important in their life,” she said. “Every month I find something new to cut out. Do I want it? Yes. Do I need it? No.”
Staying positive
You have to appreciate small victories when financial times are tough, said Tyrone Hardy, co-owner of Hardy Golf. He and his wife, Carol, manage Ballinger Golf Course in Mountlake Terrace.
The combination of bad weather and a recession have made it a tough go.
“Golf is a business reliant on discretionary income and when there is a recession (and) high unemployment, there isn't that much discretionary income to spend,” Tyrone Hardy said.
The Hardys have reduced labor, minimized vendors and reduced overall operations while working 70 hours per week. The combination of high unemployment and wet weather means fewer people show up to golf. Carol Hardy is joining other business owners in looking for outside employment, and the couple is accomplishing more with fewer resources.
Yet there are worse things in life and it won't be this way forever, added Carol Hardy.
“No matter what happens, we can look in the mirror and know that we are honest, hard-working business owners who always tried to do the right thing,” she said. “We have nothing to be ashamed of.”
Seeking perspective
When it comes to people who are struggling financially, appearances can be deceiving.
People don't always think that those above the poverty line have struggles too, said Mary-Anne, who asked that her last name not be used.
The single mom of two teenagers with special needs is college-educated and a homeowner. But the student loan debt to get her social work degrees later in life add up to $55,000, a debt the 40-something woman estimates she won't pay off until she's in her 60s. And her home value has dropped and can't be sold. “I'm underwater,” she said.
She and her children save by not going on vacations and by shopping for clothes at thrift stores.
“I'm so drop-dead lucky for my current job,” she said.
A lymphoma survivor, Mary-Anne knows how to keep things in perspective.
“I look forward to getting older,” she said. “There are so many things we don't get to pick about our lives. We can always change our behavior and how we live our lives.”
But while it may not seem possible, there's always more that can be cut from personal expenses, said Kyoko Matsumoto Wright, of Mountlake Terrace. It just takes a little prioritizing.
“It's amazing how much money people don't realize they're spending,” she said.
A positive attitude also helps – something exhibited by Matsumoto Wright and other local residents weathering the down economy.
“I have seen many dips in past recessions and I made it through,” said Matsumoto Wright, who is also a city council woman. “I'm going to make it through this one too.”
Setting priorities
Matsumoto Wright stays busy in her work as a real estate agent. But it's more hours put into fewer transactions, and the pay is no where near what she was once paid.
“People who are complaining about not getting a raise should look at people making one-half to one-quarter of what they made,” she said.
Working from her home balances the gas costs to drive to networking and volunteering events that play a critical role in her line of work. She cut the number of phone and cable lines in her home, realizing they were excessive. Large-scale projects, like painting her house, are on hold. She's learned how to do basic home repairs and cooks more to save on dining out.
“People should really look at what's important in their life,” she said. “Every month I find something new to cut out. Do I want it? Yes. Do I need it? No.”
Staying positive
You have to appreciate small victories when financial times are tough, said Tyrone Hardy, co-owner of Hardy Golf. He and his wife, Carol, manage Ballinger Golf Course in Mountlake Terrace.
The combination of bad weather and a recession have made it a tough go.
“Golf is a business reliant on discretionary income and when there is a recession (and) high unemployment, there isn't that much discretionary income to spend,” Tyrone Hardy said.
The Hardys have reduced labor, minimized vendors and reduced overall operations while working 70 hours per week. The combination of high unemployment and wet weather means fewer people show up to golf. Carol Hardy is joining other business owners in looking for outside employment, and the couple is accomplishing more with fewer resources.
Yet there are worse things in life and it won't be this way forever, added Carol Hardy.
“No matter what happens, we can look in the mirror and know that we are honest, hard-working business owners who always tried to do the right thing,” she said. “We have nothing to be ashamed of.”
Seeking perspective
When it comes to people who are struggling financially, appearances can be deceiving.
People don't always think that those above the poverty line have struggles too, said Mary-Anne, who asked that her last name not be used.
The single mom of two teenagers with special needs is college-educated and a homeowner. But the student loan debt to get her social work degrees later in life add up to $55,000, a debt the 40-something woman estimates she won't pay off until she's in her 60s. And her home value has dropped and can't be sold. “I'm underwater,” she said.
She and her children save by not going on vacations and by shopping for clothes at thrift stores.
“I'm so drop-dead lucky for my current job,” she said.
A lymphoma survivor, Mary-Anne knows how to keep things in perspective.
“I look forward to getting older,” she said. “There are so many things we don't get to pick about our lives. We can always change our behavior and how we live our lives.”