Thriving in a downturn
The economic slump affords those struggling with its consequences the chance to enrich their lives, this according to John Brust, a St. Vincent de Paul parishioner who led a recent forum at the San Francisco parish entitled "Thriving in a Downturn."
"By prudence, we are called to be wise stewards of the gifts, or money, we've been given," said Brust, who received a master's in business administration from the University Notre Dame in 2001. "Through temperance, we are called to spend in moderation and ideally below our means, so we have extra left over to give and share with others."
Brust encouraged forum participants to channel their savings toward helping those in need, remembering that those already on the economic margins of society would be hardest hit by the recession.
"We should continue to be beacons of support for others," Brust said. "We're called to be salt and light. We're called to be a source of hope for friends who need our help."
Brust said there are ways people can save money that actually improve the quality their lives. Among the suggestions offered at the forum:
• Scale back or completely cut off television expenditures and consumption, affording more time for family, friends, exercise and reading.
• Exercise outdoors instead of spending money on a gym membership.
• Prepare and eat meals at home, and invite family or friends over for the meal, rather than go to a restaurant.
The May 11 forum drew more than 40 participants, among them John Donovan of St. Anthony of Padua Parish in Novato. Donovan, who said he cooks most meals himself, said preparing his own food was both a way to save money and a source of entertainment.
"It's ingrained in my blood to never spend money," Donovan said of his upbringing. "I'm also a big library guy, which saves on buying books. I figure that I pay taxes for it, so I might as well get my money's worth."
Anne Lovi, a member of the St. Vincent de Paul Young Adult Steering Committee, said she tracks all her expenses on a spreadsheet and looks for ways to save.
"I found out I paid $6,000 in parking last year, so I just look at the spreadsheet and try to trim the biggest chunks of money," Lovi said.
Lovi has already cut off her cable and has used the extra time to exercise and socialize with friends. She and several other participants said part of their reduced budget continued to go to charity.
"There's often a mental perception that we don't have the time or the money to help others," Lovi said. "When we allocate that time and expense, it's already budgeted, so it becomes part of our routine."
Forum participant Joe Bernade, a parishioner at St. Dominic Parish in San Francisco, said he uses his savings to support local businesses.
"I try to buy everything locally," Bernade said. "When I go buy hardware I support the mom and pop store. I buy my produce from the farmer's market. I pay more in retrospect, but I support the local economy."
Forum leader Brust said while the slumping economy presents a number of challenges, it can also be a blessing. "The downturn presents opportunities to reset what our goals are," Brust said. "We can start to reconnect with what's really important in our lives."
By Michael Vick
From June 12, 2009 issue of Catholic San Francisco.
