ARE you scared?

yeah I'm not really getting the whole hide your money under the mattress thing myself. If everyone did that it'd be the only real way to doom the economy...

plan, plan and then deal...but giving myself an ulcer over it, or rubbing my hands looking forward to saying "I told you all so" doesn't appeal either.

I agree!

prepare for the worst, hope for the best

I feel the need to point out that living within your means in the current financial crisis doesn't necessarily guarantee you'll be okay. By the same token, not all of those who are in trouble are in that situation because they were extravagent, financially stupid and/or overused credit. A vast amount of people who have been hit hard are those who have been by-the-book financially responsible.

I have two relatives saving up for retirement. We're not talking the lavish "take weekend trips to Paris" retirement you see on TV commercials, but the simple "pay the bills when I'm took old to work" retirement. And their retirement funds have been hurt badly. My aunt lost more than 1/4 of her money. My uncle, close to 50 percent. They're already in their 60s. How are they suppossed to recoup that kind of loss? My aunt especially is very upset...she doesn't know how she's going to retire now. I just hope that when the market rights itself, she'll get at least some of that money back.

An excellent analyisis.

http://www.glennbeck.com/content/articles/article/198/16171/

Don't beat up the source before you read it. Glenn sources all of his points here.

so what is your 'plan, plan and deal' with it involve? oh wait...it can't be too much, cause that wouldn't be good for your 'not getting an ulcer over it' theory..would it? just curious. like I always am when people claim to not be in any kind of panic or concern. ya know...makes me wonder why you feel so comfy. truly...not some spin on words. ok...cause we all can say 'HEY..I'm NOT gonna panic, people...that's lame'. and I'd just curiously ask....why? cause it isn't worth it in the long run anyway? (cause government is gonna do what they do...and don't give a whit about you) OR...you believe the bailout saved you? REALLY...is THAT it? or...you go to work each day, and honestly believe YOUR little job is totally secure. (like when all hell breaks loose, your little corner of the world won't be touched) cause you're just someone that can't imagine anything bad happening?

I'm not trying to rain on your parade. I sincerely hope the failing economy doesn't effect you. I still just can't grasp why some people really think they're so safe..spared...hey, THIS CRAP doesn't involve ME. LOL

but then again...maybe that's all a good thing. and IF you are all doing great..and are SURE you will continue to do so..........go shopping. guess you're the glue that keeps the economy cruising. we are depending on you big spenders out there. LOL

I ask these kinds of questions.........like when I ask people why Sara Palin would be a good VP (let alone president...GOD FORBID)....and they sort of just smile and can't really answer. gotta love it. lol guess fresh faced hockey moms are as cool as those little safe corner offices.

Yeah. Like the oilsands where Steve is right now. That industry is only go to fail when they dry up lol. And the Fort McMurray oilsands are far from dry.

That's exactly it, I'm NOT shopping right now. I don't want to boast or brag about dollars, but you asked...so this is my situation.

Hubby and I are socking away almost half our take-home pay right now. We are choosing to stay in jobs we don't like, because they make good money. I am taking classes to get my masters degree in a very stable field (secondary math education), so that if one day our more lucrative IT careers get cut, I'll have a stable back-up plan.

We are not starting a family now. Yes, we could easily afford a kid or two at the moment, but until we have a more solid base (a year+ of living expenses should tragedy strike, plus the ability to save extra money for college), I don't want to have a child. Not saying it's wrong to at all, but I couldn't handle the stress and worry of feeding another mouth!

We are not buying a house, until we can afford to live in the nicer area where we want to be, so that we are thinking long term. If you buy a house as a "starter home" and hope to sell it in 3-5 years, you're hit hard if the market drops. If you buy it for 20 years, the market can drop and you're still okay.

However, that said, we still have a modest vacation fund and can go out to dinner with friends. We give often to charities, and I always offer to buy the homeless dinner if they say they're hungry. We budget, we plan, and we enjoy what we have now.

What good does panicking do? Running around like a chicken with my head cut off is not going to save my job if my company folds. Nor is it somehow going to increase what I have in the bank. However, because I've planned, and have 6 months living expenses socked away in a completely safe account earning decent interest, hubby and I can both be jobless for up to 6 months and not feel it. Would it be scary? Yes. But it wouldn't be the end of the world for us.

I'm not trying to be an ass. I know some people are in dire situations, and it sucks and I'm sorry and I wish that it wasn't so. But like someone mentioned before, it's just as bad and the same kind of stereotype to say "Man, they must have maxed out their credit cards/bought a mansion/driven a lexus when they couldn't afford it" as it is to say "Anyone who's doing well will suffer later". The bigger the cushion, the less you'll feel the impact. It's true for physics and economics.

for conversation sake, I was referring to U.S. people. but...gobal IS global.

anyway...I have biscuits (again) to make. so ....guess it's the classic...whatevahhhh that applies here.

Thank you very much for listening (((hugs))) I have some good people that do listen and do care. They are just hard to find and rare. Its such a relief to find such good people.

My husband is who I am worried about Nothing I say or do seems to help.

hey..I only wish more people saved and had at least (and I mean AT LEAST) 6 months of money and such on hand.

and I don't advocate people 'running around like chickens with their heads cut off' ...how would anyone get THAT out of anything I've said is beyond me. LOL

Well, you told a Canadian he has his head in the sand....


Oilsands is just an example of a field that is not going to suffer but a faltering economy. The U.S. has oilsands as well ... although not as many. So it is relevant. The people working in that field will have job security as long as there is oil to drill. And there are other fields that can offer job security. So it's not really fair to call someone naive because they think their job is secure.

I am not asking anyone to apologize for what they have. You are missing my point. My point is the heart of the matter not the stuff. I could care less about stuff. My point is listening to someone before casting them out and having a heart for what they have to say. What I said is aimed at society not to anyone specific or to Chaz. Just to the world that does have a cold heart. I believe being there for someone is worth more than anything, thats all.

Well... luckily we are still young enough that if nessecary we can take the money from our 401K and not totally jeopardize our future completely... but that will only be if ABSOLUTELY NESSECARY ... and it has yet to be touched by any bank.

That's not to say that I am not concerned or that I have my head in the sand or that I am sitting here waiting for the government to save me. I am just confident that we have the tools to be able to at least survive on our own... grow and hunt our own food and what not. Will it be a walk in the park? Certainly not. Do I think we are not going to be affected? Certainly not.

does beleiving that we will survive this make me naive? CERTAINLY NOT

It's good to have at least six months or a year's worth of savings.....but then after six months or a year.......you are still broke. it cushions the fall, but doesn't stop it from happening.

no cushion from the fall here. THat is why i worry. I have to have some kind of a back up plan and there is none, that is what i wake up thinking. WHat will i do...A Baker i hear ya. I used a lot less electricity and my clothes are basically the same way. In fact i saved 40 dollars a month when i had no dryer on my electric bill and still hang up damp towels and jeans and anything else that is slow drying, then fluff it just enough to take out teh lint and soften. Use my bath water or Hy's to bath the dog in. Lots of things like that .I do however use about twice as much electricity since Hy came. WAter too and i won't even get started on food money. Gasoline is a bad bad word, for i am always thinking next tank is going to come from where.

Adrienne gave me a heads up that might help. FIngers crossed.

Thats it right there. It is wise to have a back up plan and to plan for the worst. If the worst doesn't happen there is nothing to lose. But some people can't make ends meet now let alone to put anything aside. Believe me I have tried to say, o.k. $5 for a couple of cans of something and a jug of water. Doesn't ever happen because we need everything we bring home so there is no extra to save for. I got a job 3 weeks ago. I have been looking so hard and am so thankful, well now hubby just lost his due to budgeting of the business lol this cycle. So now hes out looking.

You'd think we would be used to this by now. Thats why hubby went to school, to try to change this cycle. I was trying to be realistic a long time ago and saying we would be in the same situation but not living with parents, he disagreed with me but here we are. Something always comes up, never ends. And it is mentally tiring.

Just today hubby called me and told me our friend is getting evicted because their car broke down and he has no work coming in and so on. At times like this I hate that I can't help someone else out and I am sick of talking about me, all I wnat to do is help someone else out like my friend. It bothers me I have to think about me and my family so much but I have to. We are not stable. And it makes me feel selfish. I know I am not selfish thinking of my family first but it bothers me, all the time nonstop.

I offer a listening ear and a friendship the only thing I have to offer others.

You know how many times I have tried to volunteer and I am not "qualified" because I don't have office experience or what not. Since when did volunteering turn into a job hunt? My record has nothing on it and that should be the only thing that matters. Other times my volunteering has been turned down because I don't have a car. I also have called up churches and what do they want me to donate? Why nothing but money for this or that. I have tried to go to jails and help out there and yet again "not qualified" because I haven't taken their classes. Well who said you have to take classes to open your heart to someone. Just frustrating.

I am sick of money, not because of stuff but because thats what the world revolves around and it makes me sad.

What scares me the most is, that everyone can SEE what is happening, we are all thinking about, we all know its happening... but really? Theres nothing we can do to stop it.

I am not scared. I don't have rosey colored glasses and I am not stocking a bomb shelter or thinking the end is in sight. Both extremes aren't healthy.

I just read the story about the apparent murder/suicide of 6 in CA...reported over financial problems.

I'm hopeful, not disillusioned or uninformed...

Am I watchful of my spending, yes, but that's because I am making less this year...because people are spending less. I have confidence that this is not long term...and if it is...oh well. I can't change it.

Do I wish I would have sold my house 2 years ago...you bet! Unhappy with three mortgages between the 2 of us, sure...will it stop the sun from rising...and a new day from being full of hope and promise, no. Even if I am eating noodles and butter...it's a new day and it holds good things and new discoveries.

My pets for life with VIctor and ARt unleashed really helps balance out the frustrating worthless feeling of poverty. I hear what your saying.

I finally got all my paper work in for a Reversed Mortgage , but that will depend on what value they place on my house . I'm also looking into Medicaid and ( hate to say it ) food stamps . I just found out from SIL that with Tom having an Honorable Discahrge from the services , that if I had to go into assisted living , I'm due $2000 a month ! That's double what I get now , Now I MUST clear out the garage and sell too !