Many years ago, when I established a meadow in our front yard, one of the plants I planted was wild petunias. I didn’t know at the time that they were invasive, but they are and they have spread throughout the meadow bringing this gorgeous bloom with them. The meadow is now all ablaze with this beautiful light purple.
Habits are a lot like wild petunias. Take the savings habit for example. If years ago you had started a savings program like I started the wild petunias you may have an account as full of savings as my meadow is of wild petunias. One of the things we’ve noticed at the credit union during the COVID-19 pandemic is that checking account and savings account balances are really increasing. It’s because members aren’t spending money on things like ride sharing services and meals out and vacations to far off and exotic places. Instead members and most everyone else are eating more at home and working from home and taking short trips to places nearby. It’s gotten me to wondering about something and I have a question or two for you. Could the pandemic be the time to reexamine those old spending habits? Do you really need to go out for meals as often as you used to? And instead of ride sharing could walking around your neighborhood be a good substitute? When things have been turned upside down as much as they have over the past few months it’s a perfect opportunity to ask questions like these. Because if the pandemic and all of the other events of the past few months have caused you to spend less perhaps it’s like invasive nature of wild petunias and years from now the new savings habit will help you build a beautiful nest egg.
In closing, the economic impact of the pandemic continues for many people. If you’re being impacted, please reach out to us at service@DOCFCU.org. And remember to be safe.
Till Next Time,
Evan Clark, President and CEO