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MEGANROYALTY's Photo MEGANROYALTY SparkPoints: (0)
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3/18/08 9:36 P

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I really do appreciate all of the comments on my topic here:) Because of all of my weight loss, I'm going shopping at Kohl's on the weekend, but I have a 15% coupon, and the clothes are for the summer and our honeymoon. I guess I'll just have to include the clearance racks in my shopping as well. But I'm not going to let this stress me out. I just paid off two credit cards in full for a total of $2k, and that's at least a step in the right direction.

Megan
Height 5'9"

:):):):):):):):):):):):):):):):)

Someone once told me "Give all of yourself without giving everything away"


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CURFGRAD99's Photo CURFGRAD99 SparkPoints: (17,958)
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3/18/08 4:35 P

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I work in the finance industry, but I'm too low on the totem pole to really know what's going on. All I know is, business is pretty slow and there have been layoffs. I'm grateful I still have a job, but there's always a part of me wondering if I'll be next. I've heard this old adage many times recently: it's a recession when you still have a job, it's a depression when you don't. As Jules pointed out, we're not technically in a recession yet, but all the news headlines seem to point in that direction.

I am very concerned about the rising cost of gas, particularly because that will domino into everything else, including food. I joined this team because I need to start finding ways to save money. My husband and I have been pretty accustomed to getting what we want when we want it - we both have had stable, white-collar jobs for years, and we've been married less than a year, so we were used to just covering our own expenses. Since we got married, we bought a house and immediately spent thousands on improvements. Granted, it was money saved for that purpose and they were improvements necessary to our health & safety. But still, in retrospect, that was a LOT of money. And we closed on the house just before the home mortgage market fiasco. We have very little equity right now, and a big mortgage payment every month. Not to mention higher utility bills than we ever dreamed of. It's a little scary for me to think about all the debt we have.

I guess the best any of us can do is save as much as we can, using the tips in this thread and elsewhere in this forum, and pray for guidance and strength to get through whatever is ahead.

"It is the path of least resistance that makes rivers and men crooked."
--Napoleon Hill


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ENILLA's Photo ENILLA SparkPoints: (16,337)
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3/18/08 4:20 P

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Thanks Jules! That eases my mind...my spirit was already saying not to worry. Just as He feeds the sparrows in the fields, He will care for me!

~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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JULESGL's Photo JULESGL Posts: 9,609
3/18/08 4:11 P

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OK, here's my two cents. So you know what it's worth!

A recession is when the Gross Domestic Product goes down for two consequtive quarters (6 months). The final quarter of 2007 was fine, our GDP was up slightly. We're only in the 1st quarter of 2008 (through the end of March). So, technically, there is no recession. Look it up on Dave Ramsey's site and some others.

Is there a financial pinch/laceration happening? YES! I started zero-based budgeting in Sept 07, and MAN am I glad I did. I'm figuring out how to make beans and rice in, like, 1000 different ways. May be boring, but I'm getting through.

ALL purchases are on a minimum 24 hour hold to make sure that I am getting what I NEED, not what I want.

At the bottom of this, for me, is that God didn't give me a spirit of fear. Use Biblegateway.com if you have to, but check out Jeremiah 29:11-14 and 2 Timothy. We will prevail through this!!!

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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WATERLUVR's Photo WATERLUVR SparkPoints: (20,255)
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3/18/08 11:39 A

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It times are hard whatever economic definition you wish to put on it. The price of gas is effecting everything . Food prices seem to rise each week that I go shopping.

I have been using on-line sites to get and print coupons during the last month. I have started to go to Costco again on a regular basis and have been figuring out what we like enough to be able to eat over and over for a long time, what we can store successfully etc.

DH and I still have a lot of debt we are paying down. We are only able to have savings enough to help cover some of the largest on-going bills, but nothing more.

Business has been a lot tougher lately. I have lost clients, but so far, have continued to manage to get enough new ones to balance things.

This tax year, it looks like we shall be able to pay all the 2007 taxes owed and a little estimated for 2008. We are working on going in the direction of being debt free.

I am 52 and I remember the gas lines of the early 70s and the hyper inflation and rising interest rates that came later. I also remember the savings and load debacle we had in the 1980's.

When I was in high school, I was interested in the causes of the GREAT depression and wrote a paper about it. There ARE similarities to today. One thing that we have now though that wasn't in place then is the FDIC insuring our bank balances.

The fact that JP Morgan Chase was allowed to buy out Bear Stearns is something else to be thankful for. This is saving our economy from falling into a sinkhole. There will be more things happening like this before it settles out.

As individuals, we have to keep trying to do our best in whatever situation we are in. We need to keep looking at our own finances and making the best decisions we can at the time.

Don't give up, don't give in and don't loose hope my fellow team mates!



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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ENILLA's Photo ENILLA SparkPoints: (16,337)
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3/18/08 9:45 A

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I must admit right now I am TERRIFIED! I mean I am newly single (though technically married) so I have no cushion. I have to do this on my own. Everyday I wake up to the news of a recession which the powers that be nervously try to explain away. How am I to be reassured by my government that things are OK when the person doing the speaking avoids the subject, stumbles over his words and cannot look at the camera directly! I mean those are the actions of a liar! So YES I AM SCARED! I have tried to save as much as I can but I have to get caught up before I can really save. I just keep praying that God will continue to keep me.

Thankfully I can stretch a grocery dollar REALLY far so at least I can feed the kids...just don't know if I can put a roof over their heads!

~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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MISSCHANTILLY's Photo MISSCHANTILLY SparkPoints: (0)
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3/18/08 6:58 A

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ive lived for years and years on the only buy what you need principal and yes sometimes its depressing but this is the only way my family and my hubby and i can afford to do other things which we enjoy like having a night out. (which we keep really cheap usually )
i never buy anything just because i want it ,i can always manage without.
but we have a good lifestyle as a result of my scrimping
i value my lifestyle and think it is worth the sacrifice but yes sometimes it is depressing

publish and be damned
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GRAMMYDEER SparkPoints: (0)
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3/17/08 11:31 P

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I can fully understand being afraid and uncertain about the future. My husband is an independent truck driver and if you have never had the pleasure of experiencing it, his calling to tell me that he just had to spend $800.00 on fuel and that isn't even a full tank's worth, is overwhelmingly depressing. So many drivers have gone out of business and even some of the smaller companies have had to call it quits. If my husband had to fill up completely at a truck stop where fuel is now going for $4.08, it would cost $1152.00. Average cost for diesel, based on what I checked on this afternoon for him, is $4.00 a gallon! Eventually more and more of the transportation costs are going to be charged to the consumers until food may be beyond the ability of many to purchase, and that is if drivers can be found to transport the goods. If you can save money, it would be a really good idea to do just that, but the way things are going, don't expect the dollar to be worth all that much unless there is a drastic change in the economy. The way things look from our perspective, a recession would be the best we can expect. We are concerned with there being another depression happening. So many people right now can't afford the fuel to go to work and can't afford not to work because they haven't savings to see them through this long term financial drought. People are losing their homes to foreclosure but that only makes rental properties harder to find and raises the cost of said properties, creating yet another problem. Unless totally necessary, don't commit to any large financial outlay such as buying a home or new car. Save what you can. Make a clear distinction between need and want before making even a minor purchase. You might want some new towels, but do you really need them? That kind of thing. I lived through the gas wars of the early seventies---fuel as low as twelve cents a gallon which seemed to turn overnight into gas restrictions, odd and even days for your ability to buy gas. My dad lived through the depression so have heard many nightmare stories about that time in our history. Right now is the best time to knuckle down and spend only what is absolutely necessary. Watch the financial news and be really careful with investments. Taking risks in that area right now is not the best thing to do. I really don't want to be a bearer of bad news but prepare for the worst and then if it doesn't happen, you may come out on top after all.

Bambi Lynne emoticon emoticon

 
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EJB1970 Posts: 49
3/17/08 10:46 P

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Hi all,
I scared too. People can say what they want but I remember the Seventies. I was just a child but I remember sitting in line for the weekly gas ration. I also remember the feeling of doom and gloom much like now. I was talking to some friends who teach business at the local university and they think that this recession may last a while. Just remember the more we know about the threat or problem the more we can prepare for the worst, So save as much as you can, make that emergency fund grow just in case you need it. Remember the more you save the farther away from the edge you are. I know that you first two ladies are getting married soon and its scary to start life in a new direction. Just hang onto each other and it will all work out. Make your money have a plan so you don't have to worry.
Now have fun the next few weeks and months, they are going to move fast for the both of you. And take lots of pictures of everything so when your older and married forever like me you can look back and remember all those little moments. The little moments are the ones that get you through the tough times. Just prepare and Read Dave Ramsey, Mary Hunt and Suze Orman and save,save,save....but have fun doing it. ejb1970

 
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SILLIJILLI's Photo SILLIJILLI SparkPoints: (58,739)
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3/17/08 10:12 P

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My biggest fear with all of this is that there will be massive inflation. I'm a bit nervous about saving money, as who knows what the dollar will be worth 6 months from now.

Everything about you resonates happiness, now I won't settle for less.
Give me all the peace and joy in your mind.
Muse- Bliss


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JESS614's Photo JESS614 Posts: 331
3/17/08 10:06 P

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Oh Megan, I know what you mean... my FI and I worry about that a lot. I don't know who's right or who's wrong. But my FI and I have been trying to stay level-headed about this whole thing and try to save what we can if something is to happen. Neither of us make a whole heck of a lot of money, but we do what we can to save even if it is a little(This is hard to do when we're getting married in a little over a month-as you well know)We're trying to stay sensible about what we purchase-(non-necessity convenience/entertainment wise and focus on what we need and not all the things that we want.

Edited by: JESS614 at: 3/17/2008 (22:05)
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MEGANROYALTY's Photo MEGANROYALTY SparkPoints: (0)
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3/17/08 9:56 P

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Hi Everybody,
I don't usually start out topics in here, but I felt it was necessary to get this topic across and see what everyone's thoughts were.

A couple of people I know are starting to worry because they keep telling me that a big recession is coming. Apparently, this is partially due to the fact that banks had given loans to a lot of people in the past, and because those people defaulted so much, the banks are starting to get bought out for low dollar amounts. Plus with the cost of fuel going up, businesses may have to go out of business if they can't afford the fuel. Feel free to correct me here. It's possible I heard this wrong when my fiancee' told me his side of things.

Then, I have my sisters boyfriend telling me that he's really scared (starving musician) because he doesn't want to be out on the streets if something like this happens.

My question is, are they both right? And if so, what do you all think is a good idea to safeguard ourselves so that we aren't left out on the streets? I don't mean to alarm anyone here, but I have to admit, I am starting to get scared and I'm sure that's the last thing anyone would need right now.

Megan
Height 5'9"

:):):):):):):):):):):):):):):):)

Someone once told me "Give all of yourself without giving everything away"


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