How has the recession affect you?

lorimw1 · June 2009

With more job & transportation cuts going on in Chicago this week, I'm curious to see how other 5/09 nesties (sp?) are affected by the recession.

For us:

Our condo has been on the market for almost a year w/o 1 offer.

DH lost his job a few weeks back, so we have cut back a lot on expenses: cable, cell phones, spending cash, entertainment

Huskerfanz · June 2009

We are extremely lucky in that the affects have been mostly positive. We both graduated in December and found good jobs and with the recession it's a good time to be starting our 401ks. We are thinking about getting a house and the incentives and interest rates should help us a lot.

shortln · June 2009

We live in the Charlotte are of NC, and with the banking indrustry crapping out a lot of people are out of work. I am lucky that i work in a recesion friendly job. but Dh's bussiness has lost a lot bussiness becasue people are scared to do a lot. Hes a general contractor. He is now looking for a job and is having no luck.

annabear07 · June 2009

While the recession hasn't technically affected us too hard there has been a small impact. My DH had a significant paycut and six weeks of furlough. In addition, he hasn't been able to get very many leads on a job that he actually wants to be doing. We are by no means struggling, but it isn't the ideal situation we had in mind.

P.S. Thanks for starting a new thread for me to waste time on! Wink

emmypants · June 2009

Thank God Brett and I have very stable jobs. I was quite worried about mine in January, but my boss opened up a new office [I work for a siding company] and I'm the bookkeeper for the new office and I still work for my first job in the evenings. So I luckily have "job security" for now. But since it's construction, it can change at any time.

Brett works for a whey processing plant [for the protein shakes] and he is in a position that requires a lot of training, so he is safe too.

Our economy here [South Idaho] is doing quite well. Not a ton of foreclousures or anything. Our house was on the market for 2 months before we offered on it and we were their only offer, but it's on a side street, so it probably didn't get seen often. We love it though.

I spend what I need and save what I can, so it's business as usual for us. Smile

ameliaandmatt · June 2009

We haven't been directly affected too much, but I see it all around me. I work in HR for a huge law firm and it's been pretty difficult this year. My Administrative Professionals Day budget was cut 95%. Needless to say, there were no gifts, only lunch. My wellness incentives are basically non-existant, we're in a hiring freeze, and we probably won't have bonuses this year. Our staff is wonderful and have been very understanding during this hard time, but it's going to be tough come November when I can't hand out bonus checks Sad .

jzoromski · June 2009

The recession hurt my job search around graduation. I am so lucky that I got the job I did or there would be no work for me in my field because there is literally nothing in the area.

On a positive note the recession has helped us in being able to buy a home with lower house prices and the incentives that the government has given.

lorimw1 · June 2009

annabear07:

P.S. Thanks for starting a new thread for me to waste time on!

You are very welcome! Only a fewm ore days till we are completely moved over here!

MegnDev · June 2009

It hasn't been to difficult on us. DH got his hours cut back at bit at work ( no more overtime unless ok'd my management), but we've always based all our spending on just his 40hr. work week. So right now, we're saving less, but are still on track

acp927 · June 2009

Thankfully it really hasn't, except there aren't many jobs out there in the field of my major and I'm currently looking for one. However, I'm pretty sure I'm going to be able to get a job doing something unrelated. The job market hasn't been too bad in our area, though it is slowing down some now.

bayhunter6 · June 2009

We've been lucky and haven't been effected too badly.

We've had a house on the market since May 2008 and it's still there, although we have a lease/purchase and hopefully will close in 2011. Still, I was hoping to sell quickly, not in 3 years, but at least it's rented.
DH was supposed to get a raise last year and this year and hasn't gotten one due to the economy.
I was supposed to get a larger raise than I got, but still got a raise and we still both have jobs so I know we're very lucky.
Our investment account has dropped significantly - by close to 40%. It's starting to pick back up a little but it's scary. Luckily we aren't planning to touch the money until retirement most likely so it should come back up.

emmypants · June 2009

I was reading the paper yesterday. There were 2 full pages on Job Openings. In December there was 1/2 of a page. So I'm hoping this is a good sign. We have a lot of dairys here though, so that opens up a lot of jobs. And factories. They pay awesome, the work is hard, but the pay and insurance/401 (k)'s are very worth it.

Sarah05102009 · June 2009

I graduated with my MA in history in May and moved to Las Cruces with William right after. Since then I've been working in retail to pay the bills until I land a job in student services. I've been told that I'm competing with 100+ applicants for every job the local university advertises. So, that's my recession-crappy situation. I know it will happen, but it will take awhile. My goal is to have a job at the university by December.

Chrissy3321 · June 2009

We are hesitant to buy a lot of furniture, etc for our house and instead are putting that money into savings/aggressively paying off our cars to get rid of as many monthly expensive as possible if something happens.

Sean's a fire fighter, so he is pretty recession proof. But, I am in sales, so we are being cautious incase something happens with my job.

aswartzw · June 2009

We're doing fine and fully expect to make it through without anything bad happening. Our parent company laid-off people but my company is the one bringing in the money and we are fully self-sufficient so there are no worries (at least this year). Even if there are layoffs next year (that's our big concern, right now), my little section of the department are the big producers so we are the safest out of everyone.

We were blessed that DH was able to find a job so quickly up here and he loves it! We are really happy about that.

When redoing our budget this weekend, though, my top priority was to aggressively save so we could get our e-fund fully funded just in case something does happen. We are really watching our spending and have committed to packing lunches everyday and aren't buying anything throughout the workday to save money. I do hope we can take advantage of a recovering recession to purchase a car next year.

PallieDS · June 2009

Thankfully, DH has a full-time job and was able to stay part-time at his old job (working 1 weekend a month).

Unfortunately, I have been affected by the recession. There are NO jobs in my field after graduating with an M.Ed. in Community Development Action. So, I'm working a part-time job as a tour guide where I am learning a lot about my new town. Not so bad but really hoping that I can find a full-time job soon.

RockThisB!tch · July 2009

We've been pretty lucky, job-wise. My hours/salary were cut in half recently, but luckily, my boss was able to put the other half of my position onto one of his grants, so nothing has to change.

We're big on financial planning, so we're prepared in most situations anyway. We're not really over-spending, either, because we are trying to save for a DP on our next house (we've already outgrown our current house).

How has the recession affect you?

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