REGIONAL – Every other year, our national politics focuses in on "the economy." Most of the time, though, what results are diatribes about unemployment levels, screams about "socialism" and attempts to undermine the free market system, and little looking at how we all actually live.

We at the Shawangunk Journal decided to look at "the economy" differently this year. Instead of glimpsing the macro, we delved into our own micro-economics, discussing the ways we earn what we do and then spend it, where our financial worries settle, and what our money dreams are.

Of course, this is sensitive stuff in a time where income equality is the new buzz word... both because it's about real money, but also because it's about the most personal of information. As a result, we keep it as anonymous as possible.

"Money flow is a team effort in this family: my spouse brings most of it in, we share in the day-to-day spending as well as budgeting, and I make sure the bills are paid and there's enough money left over to keep us in cat food and firewood," says one writer says. "Our system for watching our spending is pretty simple: two checking accounts, one for the regular bills and one for daily expenses. There's no overdraft transfers allowed on the expense account, so when it's out, it's out. Putting a stop to overdraft fees is one of the most important things we've done to control our finances. The other one was paying off all the credit card debt, and keeping them at zero. The money we don't pay in credit card interest is now being used to pay off bigger debts faster, like the car and student loans, and the mortgage we got to buy the house. The mortgage and property taxes swallow up close to half of our monthly income, and our other fixed expenses take up at least half of what's left. There's not a lot for saving, but I consider paying off debt the best sort of saving that's possible in any case."

"After twenty years of using credit cards I canceled all but one six months ago," said another writer. "Thinking about my interest payments in terms of the number of hours of my life that were being spent to pay interest was a turning point. I am now on a cash only payment system... I know how much I need to deposit in my checking account each week to cover my bills and other expenses. After that, some goes for 'pocket money' and the rest is divided between various envelopes like car, climbing gear, and vacation."

It's a common budgeting method, this compartmentalization.

"The pressure of bread winner falls squarely on my husband — my salary does little more than alleviate the grocery bill. Thankfully, I married well... a teacher. Between what he makes and what I bring in, we cover our monthly expenses. Most of the time," adds another writer. "Every two weeks — usually on a Sunday evening — I pull out my bill bag. I balance my checkbook, pick the bills due soonest and pay them. Every two weeks, I get nauseous, feel as if I'm going to have a heart attack... and sometimes consider leaving my position at the paper in an attempt to make more money. Sadly, I don't think we have any more debt than anyone else our age. We have a modest home, but it's ours and we seem to be able to pay the mortgage. But also a ridiculous amount of student loan debt from getting three degrees, and car payments, adding up the bargain basement price of $3,000 a month, give or take. And most of the time, we can afford it, despite my mini-heart attacks. We don't go on lavish vacations or buy name-brand anything, but there is a significant leak in our budget... our kryptonite is groceries.

"Not rich by any means, maintaining a couple of older cars, a house dating from 1906 and wishing we had more in savings. However, through some careful management and an inclination to be frugal, we manage reasonably well. One important aspect of this has been paying off the mortgage on our house a dozen years back. That helped us through a difficult period, when more income streams ran dry than gushed," writes another writer. "We watch what we spend, not obsessively, but with some care. We eat well, but simply, we dine out only occasionally, and I hardly ever travel. Work doesn't actually allow for much traveling anyway, in the current configuration. She travels, part of her work portfolio demands that, and in the winter months she gets relief from our region's cold temperatures with trips elsewhere... Major expenses tend to come from the automobile sector and technology. We live in a remote spot, so we have to rely on satellite for both TV and internet, and that adds up. I refuse — so far — to join the maddening crowd of smart phoners. My cell phone costs $5 a month. I operate via a landline and I spend enough time working on computer screens as it is. She lives by her iPhone, which is always with her and active. While I'm concerned about our carbon footprint, between work and heating oil, it remains pretty large. Of course, we don't run air conditioning, and we're careful with the heat, too, but for work I drive much more now than I did in the 90s.

"As of now we have no debts. We have had a couple of bouts of credit card indebtedness, and cleared then up with a mixture of 'gusher' funds and steady paydowns," he concludes. "Being debt free is important as we are now ramping up efforts to increase our savings as we look towards our sunset years. I would estimate that we use credit cards for 90 percent of our purchases and we pay off the balances every month. The cards are simply a convenience. One major challenge, shared with many others, is health insurance. One of us is now on Medicare, but the other isn't and is facing a sharp increase in health insurance premiums as the problems of the Affordable Care Act come more clearly into view..."

Finally, another on our staff talks about how, after declaring and working through a bankruptcy fifteen years ago, he started running all his expenditures and income through one log, the better to keep sense of overall indebtedness. Most expenses are handled through credit cards, which amass frequent flyer miles for emergency travel and vacation trips every few years. Big costs, like cars and major house repairs, go on a home equity line that gets paid down regularly to maintain a regular savings income... all on the advice of a financial advisor friend.

"It looks scary, the amounts in the negative, until matched against incomes and the fact that it balances out at some point each year... sort of like a running corporate or national debt," he says. "Nevertheless, the subject of debt and cash flow creates anxieties in the family; our kid doesn't get why 'everything's about the money.' But it is."

What balances that anxiety out, he adds, is a certain amount of job and income security that resulted when his spouse recently started a major new job with benefits. Although, he adds, such new comforts also come with dangers of overconfidence.

Next week: How we make the money we spend; the trials and tribulations of balancing income in our different family situations.