A (non) political question. What will you be doing?

[Grampa]

The economy is in the toilet, not just in the US, but all over. Here, in the US, Washington in taking us deeper into debt, and there does not appear to be any light at the end of the tunnel (right now)

Without getting political, what will be doing in your life to make due?


For me.... work has slowed way down, and I'm pretty sure that on Friday, I'll have to lay off my one part time employee, and alter the stores business hours. I'll be down to one employee, plus myself. I'll either be working 6 days a week, to cover losing my part timer, or I'll close the shop on Tuesdays (our traditionally slow day) I'm pretty sure I'll be asked to take another 10% cut in pay, just in my salary. Hopefully I'll make that back in taking over the sales my part timer got.

At home... we are cutting way back on any extra spending. No vacations are planned (see'n how I have no coverage at work, I cant take one anyway) Lm and I have been able to put extra money into saving this past year, all with paying off one of the vehicle as the goal. Then, we'll just add what we were pay'n each month on that loan, onto what we are already socking away. If our tax refund is close to what we got last year, we'll pay off two vehicles (the ones with the highest interest rate, and add that payment into savings)

About a year and a half ago, I started listening to Glenn Beck, and not that I believe everything the guy says, alot of what he was say'n a year ago, made sense to me, and one of the things he stressed, was paying off all debt if possible. All of our credit cards are paid off, so lm and I have been building up savings with paying off the vehicles as the goal. (as fast as possible)

We refinanced our mortgage for a better interest rate, and have one car loan, one truck loan and one bike loan. By this time next year, we hope to have only the mortgage left.

I think we are set up to ride this out.

I truly hope all of you are able to make it through this.

[mitt]

Knock on wood...

Here in Iowa, we have been sheltered from the slow down IMO.  Companies are still hiring, housing is still building, and house values have not gone down. 

My wife and I subscribe to a very conservative spending practice, so in some ways that is good - little debt, but bad, because there is not a lot of fat to cut out if things go down the sh!tter.

mitt

[ducpainter]

Same as always...

the best I can.

I'm lucky to be in a very good position re debt...

..and have control of spending.

If things get as bad as some say, money won't be the issue...

[TiAvenger]

I'm not buying a bike next spring as planned.

Paying off my credit cards and D's student loans over the next six months, then sacking away cash like its going outta style.  

Meanwhile we have stopped eating out, and traveling.

Basically just tightening my belt, not buying the things I want without cash, AND without touching the savings.

[Grampa]

some of the lil thing we're doing ....

I just got cold weather gear onsale, so that I can ride the bike to work in the fall and winter. saving on fuel costs.

We bank a Wamu (which was bought out by Chase), and are checking out a local credit union with better rates and fees.

Any extra money that comes into the house goes directly into savings. including rolled change.

Instead of buy'n fun, we're looking into finding ways of having fun by donating time. This month we're do'n a safe halloween thing. Making costumes and not buy'n them.

[TiAvenger]

We bank a Wamu (which was bought out by Chase), and are checking out a local credit union with better rates and fees.

Is it safe to say you're not feeling the "whoo hoo"?


LM works for the Education system... they have one of the best credit unions in Kern, you should check them out.

[the_Journeyman]

No student loans or vehicle loans, just a mortgage that I can pay out of my teacher's salary.  My fiancée has a car loan, and a couple credit cards.  Once she's out of school & working (also a teacher) we're going to pay off the car as fast as possible.  I actually paid for the honeymoon today, so that's taken care of. 

The biggest change is we were looking at building a house (I currently own some property suitable for building) in about 5 years.  Now it's more wait and see.  If money isn't a concern in 5 years,  depending on the economy & costs for building, we may build, but might also stay where we're at ~

JM

[Pakhan]

I have my camping gear, dehydrated food for a month, portable 1 liter water purifier 125 uses per filter have 2 filters, 12 gauge sawed off and 50 rounds.  I'm ready for whatever happens.

Seriously though, pay off debts, try to put money into an FDIC savings that is affiliated with a bank that doesn't provide mortgages so your not as exposed.  cut expenses all around.  If you lose your job start figuring what you can do if the fed can't provide unemployment.  be prepared and wait.  good luck.

[wbeck257]

I work in energy -- we are fine.
The GF works as a teacher -- she's fine.

Our new construction has gone down a lot -- but there is still a hell of a lot to do to keep the lights on.

As for money -- I was broke before all this, I'm still broke, and I'll probably be broke when this is done.
I've stopped eating out -- not because of money, but health. I also bike more places for health, not money.
But it saves money. I blow it on boose, the bikes, or the girlfriend. But I'm still pretty stingy, and have a good savings account that I don't touch for shit.

I live debt free. I don't even have a credit card. Bike is paid off.

I'm fine with that. I live a good life either way.

[Grampa]

Is it safe to say you're not feeling the "whoo hoo"?


LM works for the Education system... they have one of the best credit unions in Kern, you should check them out.

started looking into it last night

[Grampa]

and.... I aint to proud to work a second job if I have to.

I hit my bottom a few years ago.

I know I/we will work through this.

[mitt]

some of the lil thing we're doing ....

We bank a Wamu (which was bought out by Chase), and are checking out a local credit union with better rates and fees.

Typically credit unions are not FDIC insured (I think).  Not that it matters if it is with a good company or organization.

mitt

[TiAvenger]

Typically credit unions are not FDIC insured (I think).  Not that it matters if it is with a good company or organization.

mitt

NCUA is the credit union FDIC.... and its just as, if not more solid then the FDIC

http://www.ncua.gov/

[Grampa]

from thier website

Copyright © 2008 Kern Schools Federal Credit Union. All Rights Reserved. PRIVACY Policy Disclaimer. Your savings FEDERALLY insured to at least $100,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency. KSFCU is an Equal Housing Lender

[TiAvenger]

from thier website

Copyright © 2008 Kern Schools Federal Credit Union. All Rights Reserved. PRIVACY Policy Disclaimer. Your savings FEDERALLY insured to at least $100,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency. KSFCU is an Equal Housing Lender

After reviewing their website I would not recommend them.  Their rates and fees are garbage, and they are offering 5/1 arms with no down on their forclosed homes they are trying to sell.

DO NOT WANT

Together, we make it easy to purchase a home. Kern Schools is offering special financing on all KSFCU foreclosures:

    * No Down payment
    * No PMI
    * No points
    * Must be Primary Residence
    * 5/1 ARM amortized over 30 years
    * Impounds required
    * Borrower responsible for closing costs.

Thats the type of shit investment banks are failing over