Anyone Walking on Thin Ice with The Economy?

My expenses have gone up. (inflation is running about 8 to 9 percent, forget what the government tells you) and my income has gone down. Yes, things aren't good and look like they're going to get worse. but I'm an optomist (no I don't give eye exams) and we'll get through this.

Richard

We went through our worst phase a couple of years ago when the DH's company sold out to developers and he had to find a new job. It of course affected the the timing of his paycheck(he was a month without one) and affected various insurance benefits so needless to say we got behind. We came out of it and were able to refinance the house, consolidate all the bills, and begin putting some money aside in the event the job thing happened again. I also work full time outside the home, but it takes both our checks to make things run smoothly and yes with the price of gas and food going up and our paychecks staying essentially the same, we are feeling the crunch. With the strong realization that our companies aren't necessarily looking out for us, we have both made efforts to get things going on the side. I've focused more on my writing(though no money has come of it yet) and I've been learning to make jewelry and read tarot cards. Eventually I hope to have a website of some sort where I can sell these "goods and services". The DH is investigating ways he can sell things online as well, he's quite handy with tools and woodworking, etc. If our jobs last, we will have these things set up on the side that we can always do-maybe even throughout our retirement(if we ever get to retire).

My investments are down at this point but I'm trying not to stress out. Otherwise, I'm doing fine. In fact, I have another job prospect that's looking really good. The job market is tight right now but there are still professional jobs around. Plenty of jobs, actually.

Over here in the UK things are varying. I haven't been hit too hard but it's rather alarming to watch the price of food rise. However I know there are many people whose lives are being turned upside down by the recent troubles and they have my deepest sympathy.

We're doing okay, but only because my husband's job finally gave him full time - only two years after promising it. The last couple of years have been a little hard, so we're digging our way out of the hole as fast as we can. Food has gone up 40% or so, which you really notice if you're raising teenagers. Man, can those boys eat! My neighbor and I are trading vegetables from our gardens and have plans to coordinate what we grow next year so we can increase the productivity of the spaces. In the meantime, we're freezing and canning a lot. That can make a big difference come winter.

We're trading in my husband's SUV for a smaller car and praying that the county actually plows the one major road by the town. I'm going to miss the 4-wheel drive, but not the cost to fill the tank. I am so glad that we only bought as much house as we could afford if something happened to one of us, since it has - twice - in the 6 years we've been here. I'm also really, really grateful that we have jobs that will neither be downsized nor outsourced. Too bad they'll never make us well-off, but I am grateful that we both have work.

I've had to retire recently, eighteen months early. My superannuation hasn't kicked in yet although my pay had switched off. My wife lost her second part time job - which was a lot of fun and travel as well as paying a reasonable wage. So things are drying up. I'm planning more the meals I cook and I've slowed down on travelling for book signings and giving talks. But I'm selling my house soon and hitting the road - but the planned fifth wheeler might turn into a plain old caravan, the way things are going.

Hey, Joyce, I suggest you brace yourself for the tough times ahead...better careful than sorry. Do away with anything you really don't need and that is a money drain, right now. Consumerism is all about behaviour. You've been brainwashed to buy many things you don't need.

Simple changes to your lifestyle can help you make major savings. For instance, instead of buying from one supermarket, shop in several for price reduced products. You sacrifice your time to save money.

Good luck.

It's time but also gasoline and just more wear/tear on the car. $$$$ spent on gas can totally negate the $$$$ saved at the discount store or the one having a sale. What does work is consolidation of errands, and/or getting an enormous amount of discounted stuff on one trip.

ErylRavenwell said:

Hey, Joyce, I suggest you brace yourself for the tough times ahead...better careful than sorry. Do away with anything you really don't need and that is a money drain, right now. Consumerism is all about behaviour. You've been brainwashed to buy many things you don't need.

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This assumes a lot. It may be true for many but there are just as many who are not brainwashed and are struggling all the same. I have very little in material possessions, I don't have cable, air conditioning, I don't have my own Internet, and all my clothing, kitchenware etc. has come from thrift shops for a very long time. I don't have a car right now, I use the bus and I walk. A LOT. My tv is an ancient 12" with rabbit ear antenna, and it's ready to bite the dust. I don't run up credit card debt in order to have Stuff.

I cut my own hair, I trim my own nails, and I eat scrambled eggs with a side of lettuce if that's the best the budget allows.

This is what living within my means happens to mean right now, and has done for some while. Not everyone is in trouble because they overspend or are brainwashed. Some are just plain in trouble because the economy is, in fact, in trouble.

Watered-down, knock-off brand Crystal Light... How many times can I suggest this without being banned? I am so happy with this invention that I may have to market it.

Here's the recipe:
1 gallon of filtered or tap water chilled
1 pouch of Wyler's Light or 1 tub of Sugar-free drink mix

Pour out one glass of water from the gallon jug and drink it. Add 1 packet of sugar-free drink mix to the gallon-minus-a-cup of water jug. Shake the jug well. Refrigerate and drink mixture whenever you feel like it.

Note: A container of three Wyler's Light pouches is 99¢ at Walgreen's, and the Sugar-free drink mix containers from Wal-Mart have 6 tubs and cost $1.50. Each drink mix is suppose to reconstitute to 2 quarts, but the watered-down version is still very good.

When you start calculating the cost, it turns out that a gallon of this mildly flavored beverage recipe is 33¢, which is impressive.

alittlenerdy said:

When you start calculating the cost, it turns out that a gallon of this mildly flavored beverage recipe is 33¢, which is impressive.

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I stick to water. It's even cheaper.

nerdsRus said:

This assumes a lot. It may be true for many but there are just as many who are not brainwashed and are struggling all the same. I have very little in material possessions, I don't have cable, air conditioning, I don't have my own Internet, and all my clothing, kitchenware etc. has come from thrift shops for a very long time. I don't have a car right now, I use the bus and I walk. A LOT. My tv is an ancient 12" with rabbit ear antenna, and it's ready to bite the dust. I don't run up credit card debt in order to have Stuff.

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I'm not talking about when you're left with no option, but how you should prepare yourself for the bad time. Yes, we've all been brainwashed with fancy ads about some fancy brand we can very well do without...even I was until I finally saw the light.

I understand your situation very well NerdRus...Misery and I were old acquaintances...a great teacher and ally as well.

I can't say that I haven't been hit by the latest economic slump but, I can't say it's changed my lifestyle any either.

I'm an entreprenuer and my businesses are doing better than expected right now along with the assignments I get, I'm doing pretty good.

With that being said and not intentionally trying to offend anyone, I have to ask, Why hope and pray that your present job holds out instead of creating your next job?

Joyce, you started this so I'm going to pick on you for a minute. (All with the best of intentions, honest.)

Right off the top of my head, two things popped up.

Your husband's taking care of unsold (I'm assuming empty) properties. Why not expand that into his own handy man or property management gig while he still has a steady paycheck? Pass out a few cards, flyers or what not telling people that he's willing and able to take care of that hole in the wall that their kids knocked out playing indoor football or take care of that loose flooring that has just about stretched out the carpet to it's limits or fix that board that keeps coming loose on the deck.

Even in slow economic times, there's plenty of lumpy-dumps (like me) that dosen't even know how to spell spakle (spackle? spackel? spakel?) let alone knows what to do with it. No, I'm not a preferred customer at Home Depot. Getting enough customers or business to be a full time gig won't happen over night, but eventually (while he still has a steady paycheck) it could grow and have some extra bucks to boot.

You, working in a grocery store and I don't know what you do there, have a great opportunity at your feet just waiting to be tapped into.

I don't know what part of Florida you live in, but where ever it is, there's people around that hate to go to the store. Watch and listen for those type of people. Offer your services as a professional or private shopper. My sister lives in Orlando and that's what she does for a living. Strange, eh?

I say, don't get scared and worry yourself to death about what might happen " if ", but create your own destiny now so when " if " happens, it won't hurt as much or at all. There's a million ways to make a million dollars. Seek and thy shall find.

nice post, geezer.

Discretionary income is disappearing for a lot of people, that's for sure. When I was let go (from a business dependent on customers' discretionary/extra play money) my employer said this is the worst fiscal year he's had in 35 years of doing business. By a very long way. He has his worries right now.

joyce, maybe there ARE some new opportunities for you both out there? Hope so.

I was poor before the economy took a nosedive, so I'm not really worried now. I just keep doing what I've been doing--not buying things I don't need, looking for sales, and conserving what I do have.

A big plus is that I live in the city and don't drive--no car or insurance payments, and no worrying about scraping together money for gas. And, honestly? I live in the ghetto. It's a good neighborhood, all things considered, but times here have always been tough for people. From my perspective, so far it's mostly upper middle class people who have been hit the hardest--it hasn't trickled down so much to the rest of us. Yet.

caromora said:

I was poor before the economy took a nosedive, so I'm not really worried now. I just keep doing what I've been doing--not buying things I don't need, looking for sales, and conserving what I do have.

A big plus is that I live in the city and don't drive--no car or insurance payments, and no worrying about scraping together money for gas. And, honestly? I live in the ghetto. It's a good neighborhood, all things considered, but times here have always been tough for people. From my perspective, so far it's mostly upper middle class people who have been hit the hardest--it hasn't trickled down so much to the rest of us. Yet.

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Yup and ditto. Sometimes you wonder how much poorer than poor you can get, and then it happens, and, well, it's just lots o' layers o' poor. I think I'm scraping one of the last of 'em though at this point. Don't want to consider what lies beneath that.

I'm walking on thin ice, but I think it has less to do with the economy, and more to do with me being useless at finding a job.

Mumut said:

I stick to water. It's even cheaper.

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Me, too.

I've been scraping by for so long, it's what I'm used to.

I have my favorite produce market that I shop at and Trader Joe's. Between the two, I can afford to eat all the salad food I want

And, eggs. T' Joe's sells milk quite cheaply. Much less than a regular market.

Jean Marie said:

T' Joe's sells milk quite cheaply. Much less than a regular market.

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I've been drinking powdered milk since the late 60's, having been working in the Northern Territory then Papua New Guinea. I'm now used to it and it is cheap and there's no waste.

It's not to everyone's taste, though.

Our incomes both depend on the high-tech software industry. As a family, we were hardest hit in 2001 when we both worked for the same company, and were both laid off from the same company within a month. That was a rough time. If the same thing happened again, in today's economic climate, I think we'd be even worse off.

Things are better, financially, now that I'm working full time. After I got laid off, I took time off to raise our babies and then slowly took on part-time contracts until 4 months ago.

Anything can happen, at any time, and you can't always be prepared. Try and focus on any assets you might have. Cut back, if possible, to work on building your savings. And hang in there.

I think I picked a bad time to move out of the house. My family's doing fine, but I don't have enough money to pay for ANYTHING on my own, even with a job. Luckily my dad is able to send me money whenever I need it but my roommates aren't so lucky. Living only at home or on college campuses my whole life, both of which are environments where food is always paid for, I never realized how much money I could lose just to keep food on the table. Couple that with gas money (though it just went down around here), and I'm pretty scared for graduation in a year and a half.