The Election, the Economy and You

News about the economy continues to be gloomy. Unemployment figures still languish near 10 percent, home foreclosures persist unabated and bankruptcy is the only feasible alternative for many Americans. As the election season moves into high gear, it reflects the mantra of 1992, "it's the economy, stupid." Funds are hard to come by and even battered ones are appreciated.

Actually thriving during an economic crisis may be impossible to achieve, but you can learn techniques to help you deal with these difficult times. All this week, you'll find video tips here to help you cope with the current economy. You can get started with this NourishRelationships YouTube video.

Even with the weak recovery we are experiencing, you and other Sandwiched Boomers can regain some control over your situation by educating yourself, evaluating your finances and making the hard decisions that lead to changes in your lifestyle. For more coping tips about how to put yourself back in charge, watch another NourishRelationships YouTube video.

And if you want to learn how to maintain and even strengthen your family relationships during this time of financial belt-tightening, you can purchase our ebook, Taking Control of Stress in a Financial Storm, available on our Her Mentor Center website.

The Empty Nest in Tough Economic Times

These are tough times, with so many baby boomers suffering from unemployment, money problems and foreclosure. There are plenty of reasons to feel anxious and sad. And if you're dealing with the empty nest, that may feel like the last straw.

Give yourself an emotional break and see what happens. Understand that even though your kids have moved out, you're still needed although not in the same way. Letting go of your parenting responsibilities means letting go of the family role you've played so far. Sit back and breathe in deeply as you appreciate this opportunity to create different relationships within your family.

Practice letting go. Cry if it helps - it's natural to feel plenty of emotion at this turning point. Try to visualize one door closing and another door opening. Relax into feeling more calm and carefree. Let yourself get excited by the possibility of exploring what you want to do with all the free time you now have.

Decide to write regularly in a journal. As you think about all that is happening in your life right now, you will naturally acknowledge the pressure you're feeling. And by identifying and dealing with what is going on for you emotionally, you'll learn to take more control over this process of change. You'll find that journaling is a great tool for reducing stress and increasing self-awareness.

The Newsletter Library of HerMentorCenter.com is packed full of information that can help you move forward. You'll learn from other womens' experiences. And then why not buy Taking Control of Stress in a Financial Storm for only $2.45 - it will change your attitude and help you cope in these difficult times.

Families today are facing a new kind of housing crisis as the economy continues to spiral downward. When one spouse in a two-career marriage loses a job, making the monthly mortgage payment becomes difficult, especially for Sandwiched Boomers. Senior citizens who have been able to pay for housing from their retirement accounts find they must cut back on that expense when their retirement funds are down by 20%. When a mortgage that began with an artificially low interest figure calls for a rate increase or a balloon payment, the cost becomes prohibitive to the nuclear family.

These scenarios are not about GenX and GenY kidults boomeranging back home, with connotations of immaturity or irresponsibility. Rather they reflect adults struggling with the real effects of a global financial meltdown not faced in over 75 years. A recent AARP study revealed that more than ¼ of the foreclosures and delinquencies last year occurred among those 50 and over. These seniors and their adult children are looking carefully at what to do to ease the economic woes that have hit everyone hard.

In some cases, younger families are moving back in with one of their parents, pooling their funds for mortgage payments. This helps both the young couple having trouble making ends meet and the older parents coping with reduced retirement income. Others have turned to 'granny flats' - guest suites or small guesthouses. Seniors who give up their individual, larger homes move in to the compact units on their children's property.

Another response by some who are feeling the effects of the economic crisis is to rent out rooms in their house or condo. In Los Angeles, the listing of rooms for rent in private homes was up 72% in October from the same time last year. Reminiscent of the small boarding houses prevalent in the first half of the 20th century, this new surge may foster more socialization among strangers who are thrown together on a daily basis.

Irrespective of the type of arrangement and the reason you will be combining two families into one home, you will need to do some serious planning before you take the plunge. Tomorrow we will give you some tips to put into play before sharing your daily life with your extended family - or a stranger - in a whole new way.