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Dealing with economy?
How is everyone dealing with it and has this whole recession affected you? A few months back I knew it was bad but now I'm just scared......it doesn't seem like anything is getting better and it just keeps getting worse. I swear if they stopped with the news reports using the words...great depression, catastrophe and down fall....people would gain a little more confidence and maybe spend more but when you listen to all these reports it scares the crap out of you. Now they passed this bailout plan and it doesn't seem like it's going to do anything for the middle class.
My FI is a business owner and we are doing Ok considering but it's scary....we are making our payments every month with a little left over and trying to save for a wedding.
What have you cut back on? We stopped going out to eat so much and we pretty much save every extra dime we have....I've been cutting coupons and trying to cut costs on everything I can...just in case.
How about everyone else
Re: Dealing with economy?
The H and I are both pretty lucky so far. We both work for companies that very sturdy and haven't really been affecet yet. ::fingers crossed::
The H is a financial advisor so we have a very good budget in place that we stick to each month. I think that if everyone makes a budget and sticks to it the recession won't seem as bad.
I think the media keeps hyping it up so much that people are getting paranoid.
Ugh...the more I think about, the more freaked out I get. I'm also a small business owner, just started last year and it's been tough. My husband works at a mortgage co, the same one that I got laid off from last year. Very, very scary. I make custom, handmade wedding invitations. While, I can work w/in a bride's budget, they aren't really budget friendly. I put a lot of time into each order and I have to charge for my time, or it becomes a charity, not a business. I am getting very busy though, so I guess the economy isn't affecting everyone. But it was DEAD during the winter.
We definitely cut back...a lot. We hardly go out to dinner or order take out anymore. I cut coupons religously and don't buy cr@p at the grocery store. Since I work from home, I cannot tell you the last time I bought an article of clothing. I can't justify it when nobody sees me, LOL. I wear my old sweats (which I like better anyway), and I have 3 nicer outfits for meeting clients and bridal shows. I wear the same outfits when going to parties, etc.
I try not to watch the news too much, or I get freaked out. We just try to spend very little and save where we can.
We both have stable jobs and we're still getting raises/bonuses, so we're not really worried about it affecting us except for with taxes and all of that craptacular stuff that was just passed in the simulus bill.
We've always been good at saving, but we have been cutting back on dinners out and buying clothes. That's mostly because we're trying to buy a house while the economy is down.
I absolutely hate how everything is all gloom and doom and catastrophy. It's all you hear about and it's making everyone scared. There's rarely anything positive on the news anymore.
I think the fact that we've been luck so far is what's freaking me out....I feel like we've been luck so far....everytime my FI has lost a client another new one came in right behind....it's like we get freaked for a day and then all is well again. Who knows when this whole recession will end and when it will get better....I think when it started I assummed it would be better this summer but it doesn't seem that way anymore.
Also the fact that we are planning a wedding stinks.....I feel like all this $ is being spent for one day and the ecomony is getting worse by the day!!
So far my job is ok but my DH's is pay check to pay check. We're both in the same field so it makes it rough. Thankfully my company is slightly more diverse so we have work coming from a few different areas.
I hate how I feel guilty every time I want to buy something. We've been really good at saving and have enough in the bank to maintain our household bills and then some for about a year. That being said if I buy a sweater people are like "oooo aren't you worried about the economy?". If we worry to that extent the economy is going to get worse. We have to rely on the people who are still gainfully employeed to keep things going and create jobs for people. Am I wrong in thinking this?
since becoming engaged and married this past year, and now saving for a house, we've been in a saving not spending mode for awhile, so not really feeling the affects too bad. I have this compulsion that sometimes I need to shop, even if I just go to cvs and buy a bottle of nail polish, its just a really weird quirk of mine. To get over that, Ive taken over doing the supply orders at work, since its pretty much on line shoppng at office depot. it helps.
Originaly after the wedding I was going to look for a new job, but since no one is hiring right now, Im just glad both DH and i have stable jobs. my jobs not horrible, just dont really like it.