How is the bad economy impacting you?

[Mark42]

Over the last year or so wife and me have been "economizing" more than ever. Here are some examples of changes we made:

- All lights (except recessed ceiling lights) are CFL to reduce electric bill.

- Back to shopping at the big box stores for food. Fewer trips, cheaper prices.

- Stuff we used to throw or give away, like kids toys and cloths, go to a consignment shop so we make a few bucks on it.

- We don't go out to eat, or order take out as much. When we do go out to eat, its usuallly at the local Diner.

- The house has programmable thermostats. High temps are now 67/68 down from the old highs of 72/74.

- We keep a few small blankets in the family room and cuddle on the couch while watching TV.

- Didn't buy firewood this year. Have been picking up free firewood locally.

- Close drapes at night to reduce heat loss.

- Telecommute more to save the 40 mile commute to the office.

- Fix rather than replace things like Desk Chair, garden tools, garden hose that got cut by mower, put new burners in gas grill, fixed the patio umbrella so it will close, etc.

- Buy the cheaper model of whatever you get, IE coffe maker, hair drier, cloths, etc.

 

[Carphunter]

Re: How is the bad economy impacting you?

Good morning Mark,

Well, some things we have done are as follows:

~ We have also turned our thermostat down.

~ Turned the water heater down also.

~ Burning more wood than usual.

~ Less trips for fun.

~ Try to grocery shop only twice a month.

~ Letting the kids eat once per day..................just kidding.

~ Buying in bulk anything we can.

~ Eating more wild game, seriously.

~ Also try to fix things we may normally replace.

We have an odd situation, I have a new job making more than ever, so even though the economy is bad, we are making more combined then we ever have. So for us, the economy hasn't affected us as bad as others,.........knock on wood.​

 

[MISSBAJA]

Re: How is the bad economy impacting you?

Yeah... The economy is hurtin! Those are some pretty good suggestions!
~ I have cut back on my retail therapy...
~ Electric
~ No traveling
~ Do alot more tie ups than cruising
~ Just stay at home and ponder!

 

[lester]

Re: How is the bad economy impacting you?

I haven't hunted buck in awhile, but now with the economy, I'm getting my gear together this season...you get a lot of meat off of one buck. Usually enough to last me about half a year by myself. Something about getting your own food is rewarding...especially if you actually grow it. I know quite a few of the neighbors are planning on doing small gardens to get vegetables and such to try and cut back on food costs. Going to be heating the house with the fireplace this winter....better get choppin'.

 

[tashasdaddy]

Re: How is the bad economy impacting you?

i'm down to 4 boats. with one for sale.

 

[Bob_VT]

Re: How is the bad economy impacting you?

i'm down to 4 boats. with one for sale.

But.... you can only run one at a time.

Me..... the impact is the same as everyone else. I am just hanging on because it will be quite a roller coaster ahead. I think this is a calm before the storm.

 

[aspeck]

Re: How is the bad economy impacting you?

-Have geothermal heat, so best to leave the thermostat at one level and forget it - actually takes less energy to maintain than to go up and down the the heat you get from geothermal ... did move the thermostat down a degree though.
-Traveled to Colorado and put 2 elk in the freezer - filled the freezer completely ... lots of meat and not much room for venison, but I will still get out and get a few deer and if nothing else give to those that are less fortunate.
-We have cut down on eating out.
-Have always done the bulk foods deal.
-Used the motorcycle more this summer.
-Take all the spare cash I have and investing in the market (the other day was great!)

 

[ziggy]

Re: How is the bad economy impacting you?

I think this is a calm before the storm.

sure hope yer wrong bob.

i run my own small biz. getting biz has never been a problem. i've been self employed since 95. well, that seems to have changed. biz is too slow. i'm cutting back everywhere i can. even cut boating season short.... just plain ran out of funds. i sure hope something turns around. i'm on the edge too, hope i don't fall off.....

 

[OldePharte]

Re: How is the bad economy impacting you?

I retired earlier this year and it is hurting a little.

We were/are in the process of updating and getting ready to sell our "in-town" home in order to move to the lake. We have done a bunch of smallish projects that should have been done years ago, but just put them off. Now the new countertops and flooring are somewhat on hold. But with deflated house prices and slow lending, we may just wait a little while longer to get it ready to put it on the market.

With my retirement pay, SS, and the Bosslady working we are able to pay bills and have a little left over every month. We started to go to Costco several years ago, started to replace light bulbs with CFL, etc. last year so. We don't go out to eat as much as in the past, haven't been to a movie in years, and we've taken the boat out less than a dozen times.

We aren't hurting by any stretch. However, due to the 401(k) pretty much tanking, I am going back to work on a part time basis. I am a Certified Safety Professional and truthfully, I missed the job. But this time there will be a whole lot less stress and travel.

We are still planning on buying a new to us pontoon next spring. Hopefully, there will be lot of bargains to be had.

 

[Vlad D Impeller]

Re: How is the bad economy impacting you?

For what its worth, i'll share this little token of my personal life experience.

I am 50 years old, my wife is 39, we were on track to be considered retired persons by the end of this year. I had sold off all of my business assets with the exception of one house and one condo. The condo is at present leased to a renter but the house is for sale like hundreds; if not thousands of others in the south Florida area.
I have recently made arrangements with the realtor to remove it from the market until the economy stabilises.
My nephew and his wife will occupy it and pay the property taxes, since it is more profitable for them to rent out their duplex, this also allows them the opportunity to send their two kids to a better school.

I have watched with horror like many others at the losses to my Mutual funds, 401k and the few stocks that i had accumulated over the years.

My present plans are to hold, sit tight and ride out this storm, even though it is very tempting to do like some of my colleagues and go back into buying foreclosures and depressed houses.
I am very fortunate to have a steady income from two commercial buildings here on the island and the condo in Miami.
The problem i see that many employers are having at the moment is the same as many individuals "decreased cash flow".

I am very lucky that i don't have the added expense of heating or cooling the home here on the Island, and i don't have a vehicle here because i don't need one.
Our lifestyle has changed quite a bit from just a few months ago, we never eat out anymore, we are both learning how to cook and i'm trying to teach myself how to flyfish, i have'nt caught anything to date but i do find my endeavor to be rewarding.

We also gave up on our plans to vacation in OZ again this year.

(Sorry Aldo, i was so looking forward to the trip to your neck of the woods and perhaps meeting up with you. However i'm not one to say never.)

There is one thing that i can say, not to be as presumptious as it may sound. It is to have faith in the American system and way of life, things will get better as they always do after every down turn.
Put away those credit cards, don't use them unless you have no other choice. Spend on the things that you really need and not on your wants.

My uneducated father told me, that as a child his father used to say to him.

"The decisions you implement today will have bearing on your tommorow".

I truely believe that, everytime that i'm about to make an important decision, i remember those words from my dad, its like something stamped into my being.

(Those of you who have'nt voted yet, take the first opportunity that you get to do so.)

 

[rubiksolved]

Re: How is the bad economy impacting you?

our family lost $150k from the stock markets... we're currently struggling to make ends meet now...

 

[LadyFish]

Re: How is the bad economy impacting you?

Vlad, sounds like you'll make out just fine. It also sounds like a wonderful life.

If everyone cuts back even if they don't have to right now, it'll help them when they need to. We've been so used to having what we want, when we want it, we haven't learn patience, nor have we learned how to keep ourselves on a really strict budget. We can't afford to be sloppy with our hard earned money anymore.

Put the extra cash away, get used to surviving on less. You might even learn that less is more in many cases.

 

[puddle jumper]

Re: How is the bad economy impacting you?

Its kinda funny the things you guys are doing to save money. Are the things my wife and i have done our hole lives becouse we grew up dirt poor. Right now im making more money than ever and with no sight in end (i hope). Most things i dont miss due to the fact ive never had them.We also do live in side our means.

PS my wife doe not work anymore and loving it.

 

[jkust]

Re: How is the bad economy impacting you?

No effect what so ever. Have had our best year ever meaning we can not vote left. Haven't heard or seen a bit of difference with friends, neighbors or colleagues. Seems to me the media hypes it up for the self-fullfilling prophecy. Seems to boil down to making good decisions. Have lost a boatload in the market but since we are several decades from retirement and it is on paper anyway, I just brush it off. Still waiting for the other shoe to drop. Not sure what to think.

 

[Caveman Charlie]

Re: How is the bad economy impacting you?

I get a regular paycheck, and I have no debt,so I really haven't done anything to much different. I do buy a little less meat now and I shop for some food products carefully because they went up in price so much. Other then that I see no difference right now. Most of my friends are the same way. The thing is, my county only really has one big factory. Toro lawn mowers are built here. I don't work there. And, for right now they are still working full time. But, I see lay offs in the future. When that happens people and marriages will get stressed out and I expect to see more people selling there "extras" like boats, campers, motorcycles. That's OK by me. All the more for me to buy cheap. There may be a slight uptick in crime as more unemployed people set at the bar and drink. But, that will not effect me. So, for right now I see no difference for me. But, we have to see what happens over the next year or so.

 

[love1u0]

Re: How is the bad economy impacting you?

I get laid off about two weeks out of the month....

 

[jay_merrill]

Re: How is the bad economy impacting you?

The most annoying thing to me is that I actually talked to my broker last January about selling all my MF and parking the cash in something safe but liquid. I let myself get talked into the conventional wisdom and decided to gut it out. That decision has cost me tens of thousands of dollars. I will get it back eventually but I don't see that happening for five or six years.

The other big area for me has been fuel cost. I drive a Chevy van and spend a lot of time in the boat. At nearly $4.00/gallon for a pair of vehicles that get 15 mpg and 4 mpg respectively, my fuel expenditures kind of "inhaled." Fuel is now a little over $2.00/gal ($2.07 today), so I am breathing a little easier.

My guess, however, that fuel prices are going to start climbing back up again starting on Wednesday. I think this trend is much the same as we saw during the national elections two years ago.

 

[Mark42]

Re: How is the bad economy impacting you?

A neighbor up the street is clearing some fields. There are trees they cut down and sectioned into fireplace size logs. I was told its free and to take what I want, so I made three trips in the Mountianeer. Packed that SUV solid and unloaded it into the garage. Its stilll fresh unseasoned wood, but I experience is after about one or two months stored indoors it will burn fine. If not, then its there for next winter.

I used to buy firewood and have it delivered. Now I'm looking for free stuff and humping it around myself.

I am sore and tired today.

 

[ezmobee]

Re: How is the bad economy impacting you?

Well I don't know how much the nation's economy is effecting me but my own personal economy has been pretty tight for a while since we had our son. His regular expenses plus daycare really add up. My wife and I are gainfully employed but have seen miniscule increases in our salaries over the past 5 years. We've started riding together to work and recently traded my old car and our SUV in on an '07 Impala to save on gas and maintenance. Kinda a kick in the teeth now that gas prices have dropped through the floor since we sold our Pacifica which we loved. I'm sure they'll go back up though. Basically my wife and I have stopped buying pretty much anything that isn't for our son. We don't go out to eat much anyway since we our son is 14 months old. I have started shopping at discount grocery stores like Aldi's. I'm tired of living paycheck-to-paycheck but I'm kinda stuck working where I do because we have excellent health benefits at a very low cost. I would very much like to get a different boat (something with an open bow) but as for now I'm just very glad to have what I have.

 

[puddle jumper]

Re: How is the bad economy impacting you?

Well I don't know how much the nation's economy is effecting me but my own personal economy has been pretty tight for a while since we had our son. His regular expenses plus daycare really add up. My wife and I are gainfully employed but have seen miniscule increases in our salaries over the past 5 years. We've started riding together to work and recently traded my old car and our SUV in on an '07 Impala to save on gas and maintenance. Kinda a kick in the teeth now that gas prices have dropped through the floor since we sold our Pacifica which we loved. I'm sure they'll go back up though. Basically my wife and I have stopped buying pretty much anything that isn't for our son. We don't go out to eat much anyway since we our son is 14 months old. I have started shopping at discount grocery stores like Aldi's. I'm tired of living paycheck-to-paycheck but I'm kinda stuck working where I do because we have excellent health benefits at a very low cost. I would very much like to get a different boat (something with an open bow) but as for now I'm just very glad to have what I have.

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