643 - BONUS March 2025 Household Economy

Your home is like "home base" in tag, it's the safe spot. In 2024, we spent resources on Joey and Abby's homes. In 2025, I want to do some renovations on the second floor of our home, where Greg and I spend a lot of time. I wanted to share how I plan to attack those renovations but first I felt it appropriate to offer this bonus economic episode to give insight to all this Tariffs talk and the swift changing of the government right now. I based my choices off of the large picture and this is how you can too as the household manager!

Hire It Out vs. DIY

There is a direct relationship between the money you have to invest and the amount of time a project will take. Either you hire a contractor to complete the task with a timeline shorter than you could've done. Or you do it yourself but it will take longer usually. And then there's a hybrid option somewhere in there. I have decided on the projects I want to complete upstairs, however if I hire it all out like I did with the kids' projects I'll be broke soon! Next episode I'll tell you all about it.

YOUR House

When considering your household budget and anything you want to do you need to look at what is going on in your household budget. Just because the economy is bad doesn't mean your household is. The example I share here was the Organize 365® budget (remember our homes are small businesses) in regards to shipping costs, de minimis value, and taxes. I also shared how physical nexus and economic nexus affects Organize 365® sales and taxes so you could get an understanding of the complexity of what seems like a simple purchase or subscription from our community. You GOTTA hear the episode. And I say that to encourage learning. Always be moving forward.

Everyone may not be happy about this adjustment but when I looked at the entire shipping process and considering what the customer has to pay, in addition to their receiving end, it does not make sense to continue shipping internationally. If I don't make this adjustment and Organize 365® does under, then there's no money anyway. Better to adjust and make unpopular decisions. You may be looking ahead and realize that in order to celebrate your child's graduation like you may have for a previous child you need to cancel the annual summer vacation. As the household manager, in order to keep the budget afloat, this decision may make the most responsible financial sense. This is where you need to cut costs first, at the household level.

Economic Outlook

Are we in a recession or not? I talked about my opinion of the stock market. It may be an indicator of the emotional climate but not the economy. Right now, everyone can feel how volatile the economy feels. The President is making changes more quickly than people are used to. There is a lot going on with Tariffs and we are toeing the line with financial war. This is not in our control. My best advice, with all the economical uncertainty, is to attend planning day so you can plan out and allocate money for the next 120 days AND look over the next 3 years.

What Do You Need?

As a household manager, looking at the current economy, I would not embark on the PhD. I know for my household budget and looking into the future over the next three years, now would not be a financially responsible time to tie up funds for that. However, I offered multiple ideas for how to continue personal development. If you can't attend a conference this year like you normally do, try a different mode of learning. I know I want to do some renovating this year as my time is becoming available. If there is a financially hefty project you want to do, you may need to contribute some blood sweat and tears this time, in addition to or instead of hiring someone to complete the task. Can you invest more time and still get what you want?

EPISODE RESOURCES:

• Home Planning Day

• The Sunday Basket®

• Sign Up for the Organize 365® Newsletter

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