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CACOSTA's Photo CACOSTA Posts: 2,460
2/8/08 2:03 P

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Julie,
Thanks so much for your insight, I totally agree with you!
Carolyn

“Know the true value of time; snatch, seize and enjoy every moment of it. No idleness…never put off till tomorrow what you can do today.”
KATENO9's Photo KATENO9 SparkPoints: (70,705)
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2/5/08 8:15 P
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Yep, the stock market doesn't like uncertainty but it's the decline in GDP over two consecutive periods that marks a recession. It's just that for a lot of us, the most visible effect of economic forces is the price of gas and how our 401k is doing. Having the first continue to rise while the second is falling is no fun at all - recession or no.

Some famous person (I forget who) said that a recession is when my next door neighbor loses his job. A depression is when I lose mine..... Neither is accurate from an economist's point of view, but then, most of us aren't economists.

We are what we repeatedly do. Excellence then is not an act but a habit. - Aristotle


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WATERLUVR's Photo WATERLUVR SparkPoints: (20,255)
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2/5/08 1:22 P

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Julie: Thanks for what you said.

Those who believe they can do something are probably right and so are those who believe they can't.


Co-leader: Music teachers for health and wellness


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WEAKNESSLEAVING's Photo WEAKNESSLEAVING Posts: 166
2/5/08 1:08 P

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I don't think we are going into a recession, the stock market is just making a correction, and there is certainly uncertainity in the market, because of the lending problems that were caused 3 years ago. The market doesn't like uncertainity, and that is why it is reacting the way that it is. For those of us who have over 5 years before retirement will be fine-just remember to keep putting money away into retirement, as said before-the stocks are on sale right now-buy low!

As for day to day living, it will be a tighter time for awhile. For those of us who are trying to get out of debt we are doing the right thing, especially if we have adjusted our living to be within our wages! We will get through this, we just need to be disciplined just like trying to lose weight. We didn't get into debt overnight just like we didn't become overweight overnight both will take time, but there isn't a magic pill that will get us out of either of these! Apply the sparkpeople strategies to your finances and we will be sucessful.

~~julie~~
Eventually you learn that the competition is against the little voice inside you that wants you to quit."
-- George Sheehan


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SHEEPINGLY's Photo SHEEPINGLY Posts: 1,840
2/5/08 12:04 P

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We aren't in a recession yet but we are definitely in a slump. =) But if we keep wise with our money and pay off debts...we will improve our way of living.

Goals:

Pay off Debt [CT: $35,422.14 ]

Drop down to 135lb.

See my Spark Page for status of Other Goals! rebellionstartsnow.typepad.com


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KATENO9's Photo KATENO9 SparkPoints: (70,705)
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2/4/08 11:53 A
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Yep, the gas prices (and accompanying profits to the oil companies) are what bother me most!

We are what we repeatedly do. Excellence then is not an act but a habit. - Aristotle


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STEELVIC Posts: 359
2/4/08 1:11 A

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Probably not an official recession yet; We sure are feeling the crunch of the rising fuel prices! I read that Exxon made a $40.6 BILLION net profit last year! Unconscionable!

And we know that all things work together for good to those who love God, to those who are the called according to His purpose. ROM 8:28
KATENO9's Photo KATENO9 SparkPoints: (70,705)
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2/2/08 11:50 P
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It may not technically be a recession, but you can tell times are tough for a lot of people. I work for a non-profit that counts on contributions for about 35% of its revenue. I'm expecting that times will be tight for our organization because people are already struggling and don't have the money to contribute.

I live alone (with 2 cats) so my needs are pretty simple and I don't think I'll have to change what I'm doing much over the next year or so. I'm just glad I don't need my 401k money soon. As pointed out by other posters, the stock market is taking a beating right now.

We are what we repeatedly do. Excellence then is not an act but a habit. - Aristotle


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JULESGL's Photo JULESGL Posts: 9,609
2/2/08 2:45 P

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No, our gross domestic national product is still up, so technically we are not in a recession.

With that being said, I'm living very differently now than I was 2 years ago, even just 1 year ago. It's not just that I've gotten onto Dave Ramsey's program, it's just that tight.

I'm feeling a large impact and it's going to spread. Being a teacher I tend to spend my own money on school supplies for children coming from families who don't have the money. I teach in a neighborhood of a lot of first time homebuyers. I think a lot of them got in 2 - 3 years ago with ARMs. Now the stuff is hitting the fan and more kids need supplies.

I have to decide carefully how much money I can save on gas or groceries or eating out so that I can spend it on these kids getting an education. It's tough for a lot of people right now. A really good time to count my blessings!

Live like no one else, so later you can LIVE like no one else

"No man in the wrong can stand up to a man in the right who keeps on a-comin." - Texas Rangers

Dare to be a Linchpin - Seth Godin


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BRINEY2008's Photo BRINEY2008 Posts: 139
2/2/08 3:25 A

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EJB

I live in GA also. Spring won't be the same without water. Hopefully we will all get to plant something soon.

Start Weight 163lbs on Dec 30th, 2007.

Jan 5th: loss 6.5 (156.5)
Jan 12th: loss 1 (155.5)
Jan 19th: gain .5 (156)
Jan 26th: loss .5 (155.5)
Feb 1st: loss 3.5 (152)
Feb 9th:
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Feb 16th:




 
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EJB1970 Posts: 49
2/1/08 6:26 P

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Thanks EbayQueen,
We already do the library and I sell on ebay for money to use for our little extras. We only go out to eat when we shop at sams every 2-3 mths and thats just the sam's special hot dogs and pizza lol.

I am getting really good at cooking now and am reading books on how to cook healthy and on a budget. I am happy to say that we are enjoying staying home and eating at home.

We to think that the recession will last a while and Because of that we are buying in bulk more. I am getting a small freezer and converting part of our garage into a pantry so we can store food stuff and garden goodies this summer. We live in the south and here in GA we are experiencing a bad drought that will probably last another year or so. We have decided to buy water to store up just in case the price shoots up on it to. I am willing to give up parking in the garage so that we can do some preparing just in case. I know that we may be overdoing the preparing just a bit but nobody knows how bad its going to get. I just want my family to be happy and safe. ejb1970

 
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BRINEY2008's Photo BRINEY2008 Posts: 139
2/1/08 4:55 P

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I am preparing for a recession and I think it will last a while.

My plan is to bring in extra money any way possible and pay off our debt. Having debt during a recession isn't easy.

Also, cut spending. For the past 4 months we have been learning the value of a dollar.

Start Weight 163lbs on Dec 30th, 2007.

Jan 5th: loss 6.5 (156.5)
Jan 12th: loss 1 (155.5)
Jan 19th: gain .5 (156)
Jan 26th: loss .5 (155.5)
Feb 1st: loss 3.5 (152)
Feb 9th:
Feb 14th:
Feb 16th:




 
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SHEEPINGLY's Photo SHEEPINGLY Posts: 1,840
2/1/08 4:33 P

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My 457 and 403b (which are similar to 401K's but this is for non profits) have been doing nothing but go down hill. When it does make a profit to catch up to the amount I have put in, it takes a big hit again.

But I keep it in there cause over the long run it supposedly does make alot of $$

Goals:

Pay off Debt [CT: $35,422.14 ]

Drop down to 135lb.

See my Spark Page for status of Other Goals! rebellionstartsnow.typepad.com


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EBAYQUEEN's Photo EBAYQUEEN Posts: 115
2/1/08 1:57 P

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EJB1970 - here is a list of fun FREE stuff to do at home with the family:

Check out movies from the library
Have game night with board games or cards
Go through closets and drawers (the kids too) to find stuff to sell at a garage sale or Ebay for extra cash (let the kids use the money from their stuff to go to a movie, rent a movie, eat out, whatever).

Hope this was helpful!

Never underestimate the power to change yourself

Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great. ~~ Mark Twain

"There's nothing you've ever been successful at that you didn't work on EVERY day." Will Smith

"It's easy to say you're too tired, too stressed, too busy, too this or too that. Too bad. The only way you'll strip away the fat is to start by stripping away
SANGRIAGARDENS's Photo SANGRIAGARDENS Posts: 19
2/1/08 1:49 P

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Yes, my 401K has lost 7% of its value in 3 months (yuck!)...but I've upped my retirement contributions temporarily to 15%..."Buy low," right?


We either make ourselves miserable or we make ourselves strong. The amount of work is the same. -Carlos Castaneda


 
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EJB1970 Posts: 49
2/1/08 1:27 P

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Recession or not Times are tough all around. Since I became a SAHM in Dec, We have been living thin for the past couple of months any way to get used to one income. Now my husband is starting to get nervous and I may be going back to work. We have everything paid for except the house and Student loans. We are revamping our budget and expenditures.

Does anyone know of any books on family continent of being at home. I want to work on making our home the place to be. So that we are having fun and have no need to go out to look for something to do. any ideas would be great. ejb1970


 
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EBAYQUEEN's Photo EBAYQUEEN Posts: 115
2/1/08 12:50 P

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Apparently we are not technically in a recession, but it definitely feels like it! As long as I don't lose my job, I don't feel it is affecting me too much (other than my 401K not doing as well). I do have to make adjustments for the higher gas and grocery costs also. The positive side of this is that it makes us all look a little closer at what we are doing financially.

Never underestimate the power to change yourself

Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great. ~~ Mark Twain

"There's nothing you've ever been successful at that you didn't work on EVERY day." Will Smith

"It's easy to say you're too tired, too stressed, too busy, too this or too that. Too bad. The only way you'll strip away the fat is to start by stripping away
ENILLA's Photo ENILLA SparkPoints: (16,337)
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2/1/08 9:35 A

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Times are DEFINITELY tough! I think my family would be OK if it weren't for the daily trips.

First thing I have to do is get our spending under control! Once I can accomplish that, things will level out and we will be just fine. I pray!

~E

Visit my site/blog at:

elwilliamsinfo.weebly.com



***Live in such a way that those who know you but don't know God, will
come to know God because they know you.~Unknown***

***I don't expect perfection just perfect effort~EL Williams***

***Shake off the cobwebs of despair and dance in the sunlight of happiness~Terri Lynn***





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WATERLUVR's Photo WATERLUVR SparkPoints: (20,255)
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2/1/08 7:48 A

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Whatever you call it, we are feeling the squeeze. The cost of gas has made the price of groceries go up. We are already on a tight budget. I have lost clients and am not getting a lot of new client inquiries.

I have cut back on eating out and cut back on some of my payments that pay down my debt. I am trying to save a bit more as well.

My worst problem is NOT letting it get to me.

Those who believe they can do something are probably right and so are those who believe they can't.


Co-leader: Music teachers for health and wellness


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BRINEY2008's Photo BRINEY2008 Posts: 139
2/1/08 3:44 A

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Do you think we are in a recession?


Considering we are in a recession, what is your plan to get through it?


Will you family feel: little impact or a huge impact?







Start Weight 163lbs on Dec 30th, 2007.

Jan 5th: loss 6.5 (156.5)
Jan 12th: loss 1 (155.5)
Jan 19th: gain .5 (156)
Jan 26th: loss .5 (155.5)
Feb 1st: loss 3.5 (152)
Feb 9th:
Feb 14th:
Feb 16th:




 
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