ARE you scared?

[SharkyX]

http://finance.sympatico.msn.ca/savingsdebt/johncaspar/article.aspx?cp-documentid=9834180

Rather enjoyed that article thought I'd post as it relates to the topic at hand.

 

[HoundedByHounds]

goes both ways a baker. You can't know what it's like unless you've been there also applies to those assuming that anyone they meet that offers ideas, or simply isn't as worried is somehow arrogant or or not living in reality.

I won't apologize for having anything I have...but yet sometimes it seems people think I should.

I also don't think the person that walks by and looks at a homeless guy as thinks "get a job" is any better than someone who walks by a nice home and couple and their nice kids and says "they'll not be so happy when they foreclose...you know they waste money left and right".

Sharky...interesting read. I was so going to get the dh invest in SWA back when the market crashed after that fateful Sept day...but I didn't....things were so so SO low then...and if I had...ah well.

 

[Miakoda]

I am worried. But I guess I am an optomist at heart. Well, maybe not an optomist, but I was taught to never give up. Never quit. Honestly, I'll go down fighting. (maybe that's why I relate so well to my dogs)

Down where I live, "Help Wanted" signs are everywhere. Allbeit most of those are in the windows of fast food places, but I've passed several restaurants and some FedEx/Kinko's places looking for help as well. Construction is huge as is roofing and flooring at the moment (& will be for many, many, many months to come due to hurricane clean-up and rebuilding).

I'm with GO in that the economy goes up and down. It's a cycle that will never change. But for ever severe low will come a great high. It's just how it goes. Of course things take time, years, but it's about hanging in there.....which of course is not always easy.

We were facing bankruptcy earlier this year. I know what it's like to be facing the thought of losing one's home, cars, whatever. But we're fortunate that my husband found a good job.

We still live paycheck-to-paycheck and many months we still have to decide which bills will not get paid that month, but we're hanging in there.

 

[xpaeanx]

I definatly think this is a great time to invest... the market WILL turn around. it always does.... the real question is when will it turn around, and how "bad" will things get before it does.

 

[Fran27]

I see some 'help wanted' signs here too. In my experience, it's in those little stores that you have the most chances of getting a job... not the big companies that never call you back. Sure, it's often paid $7 an hour, but it's still a job.

Am I worried? Well, a bit. We don't have that much debt but obviously more than we had last year, and we don't have a huge house and fancy cars with expensive payments every month... so, it could be worse. Plus I know that if things really get bad here, we can go live in France.

 

[HoundedByHounds]

Plus I know that if things really get bad here, we can go live in France.

Fran....you forgot something...I think you meant to add on "and I'll take any of you willing Chazzers along, too".

 

[bubbatd]

I would invest if I had the money to do it !! Maybe we should have a Chaz investment group ! All chip in $5. Be better than a lottery ticket !

 

[sparks19]

Well I don't believe we are in for the best of times down the road... I am confident that we can survive. We don't own a house that we can't afford or have more bills than we can afford but we also have a lot of room to cut back when and if the time comes... bills that can be lowered if need be, lots of places to make cut backs in our daily lives etc. I also know that we can provide our own food so we will not starve. As long as we can feed ourselves and keep a roof over hannah's head (even if it's a little shack in the woods) then we don't NEEEEEEEEED anything else. I can go without a new wardrobe, a new car, new fancy gadgets etc etc. We are very blessed to be where we are in our lives and we will perservere.

and we certainly don't rely on the government to keep us safe... we rely on ourselves.

as for finding jobs... there are always those "work from home" things for those who can't work outside the home or be on their feet or can't have a fixed schedule due to health... BUT you HAVE to research them and find one that is real and reputable... they are out there but there are a lot of scams out there too. but if you do your research you can pay your bills this way... I know people who have done so. Just a thought

 

[~Jessie~]

I'm with ya Smkie. Sorry long post and slightly off but I have many feelings on this issue.

I am not scared but I am worried. Not for me but for my daughter. I seriously wish me and her could just go and not have to suffer any more. But no matter what we have to stay here and wait until God makes the choice our time is done. You know if worse comes to worse and I suffer and am in torment while I am here I figure so be it. My huge concern and yes I worry is for my daughter. I could be homeless or what not and be literally starving, for me doesn't matter as long as their is food in my daughters mouth and she has a coat.

My thing I am also worried about is my husband. He is quite angry and sometimes filled deep with darkness. He has lost a huge part of himself and you should here him talk about other people. The way he feels our whole society is makes him want to puke. He says people disgust him. I won't go into any more details but sometimes I wonder if he is going to snap. He can't talk about it because something comes over him and he has a hard time getting it under control. I think things are harder for him than for me in a way but I won't go into those details either.

We have been so low I am happy as long as my daughter has. If it wasn't for the guy we make house payment to understanding our situation we might be homeless yet again. People say "blah blah your internet bill" well the thing they don't don't know is my husbands job revolves around the internet. So that answers that. Might as well get rid of our car too which is another bill LOL um... not realistic. I have already gotten rid of unnecessary bills that we don't need.

Smkie people don't understand unless they have been there. I am so sick of people telling me how hard it is for gas and blah blah. I'm like "oh yeah your hurting with your vacation and going out to eat". Live in my shoes for a week with our budget and tell me how it is. People say "oh I can't afford this or that" oh yeah look at your shoes, I don't see any holes, do you have a winter coat, do you have milk and bread in your kitchen, are their presents under your Christmas tree for your child .... Sorry I am ranting.

With our economy, I don't know. I am not scared but its going down. People liking to think other wise I think are blind to realities slightly. Theres a difference between being optimistic and facing reality as it is. EVERYTHING needs a balance.

To help our bills I hardly ever use our stove, gas off 99% of the time. I wear some clothes 3 times before I claim them as dirty. I don't throw any food away. I pay attention to all the small things like only drinking free water never pop or anything extra. Our dogs eat as cheap as they can (quality this and that, hey at least they eat) and I don't buy things like flea meds. Bender needed a license forever ago and we needed things like fire extinguisher and smoke detectors blah blah forever ago.

We never go out to do anything unless its going for walks, no renting movies, no snacks, no going to the apple orchard (I wanted to so bad this past weekend), none of that. I buy cheap crap for food. I walk to work so I don't have to pay the bus 6 dollars a day. That equals 6 miles a day I walk. I drink coffee in the pot no matter how old it is.

I ignore things I owe that I cannot possibly pay for. I mean what else can you do? They are going to be there no matter what and theres nothing I can do about it. I have learned to laugh at bad news (most of the time) instead of getting angry with things beyond my control. Its very very hard but I just say oh well to a lot of stuff other wise I would stop moving all together and become depressed and hopeless feeling without nothing changing.Than i would be totally useless. Its hard to concentrate and keep the train of thought I have sometimes, but I try to deal with things the best way I can and just let the rest go and keep thinking maybe one day.

You know its so frustrating when you just want a listening ear than people come and try to fix your problems they don't understand or tell you the same ol' stuff you have alreday tried and heard of a million of times or they make you have to defend your position, kick ya while your already down and spit in your face. Some times its nice to just have a friend who will listen and do nothing more.

You know I feel my family thinks my family is a burden (makes sense?). They have "problems" but to me with the problems I have had I view them as petty. Sorry to my family we have bought nothing new lately, have no hobbies or went any where cool and are always struggling. If they view me as a burden and don't want to get to know me than fine. Let them live in their fantasy world because its about to crash down.

I like the struggles I feel it prepares me. Even if I could I wouldn't want to live comfortably. I can't believe how many walk past someone who is down and they just stare.

But I remember we weren't promised no suffering and only good things here. We were promised those later when we go home. Knowing that everything here on earth will pass but whats to come is forever and ever is very peaceful and joyous. I than feel rich knowing this truth and it makes my heart sing in midst of the sufferings around me. As long as I strive to do the best with what I got no matter how others view me feels conquering in a way especially with the Counselor I have pulling me through. Without Him I am nothing no matter what I have.

I'm really sorry to hear of all the things that you've had to endure. It sounds like a really rough road. Stick through it, and remember that there are people out there that really care for you. Just remember to keep a cool head, and keep on pushing through for yourself and especially for your daughter.

Don't take this the wrong way, but you may consider seeing a therapist/counselor regarding your feelings. A good person to talk to in a situation like this can really be a great thing for your overall outlook on life.

 

[Debi]

for all the people that think this 'doesn't involve them'. welcome us to YOUR planet. you think you have secure jobs that can't waver.....seriously, are you living here?? not NOW maybe...but life trickles down..YES, even to your 'secure' job. what? hard times doesn't include YOU? ok. head in sand.

it's about true discussion here. HARD ECONOMIC TIMES includes EVERYONE. to post how 'safe' you are.......is..............just........a little .......I don't know, sad. I'm sad for you. here's to hoping you're right.....but it isn't likely. so jump on this planet, then let's try to find life options 'in case' (for you peeps that are sooooo safe). THEN let's talk about what we might do to help each other.

 

[MelissaCato]

... end of this session -600 ... people are selling like crazy.

 

[Boemy]

I'm in school right now and too busy to be scared. Anyway, I know that in a real pinch my family will help me. Things are hard, though, for sure. My budgeting is strictly for essentials, no extras like movies or going out. I just bought a student-discount bus pass today, that will be much cheaper than using my car. I don't have a job right now, so I can't lose it. I am certainly worried about how employment prospects will be when I finish college, though. But oh well. It's still some years away, so I'm just crossing my fingers.

Can I just say that even though the financial situation is not good, this guy's "OH NOES" face made me laugh:

Edit: I am worried about where the country and economy as a whole are headed. I pity whoever becomes president. But on a personal level I am not very worried. I have absolutely no credit card debt and I have great credit, two things that are a weight off my mind. Of course the downside is that I've got student loan debt, bleh.

 

[Gempress]

I'm not scared, but I am preparing for the worst. I've know many people who have been hit hard by this first-hand. Not CEOs and investment bankers, but average, everyday people. Hubby and I live frugally and don't have more than we can comfortably afford. So I'm pretty sure we'll be okay through a pinch. But I just hope everything gets fixed.

The situation with the credit market is disturbing. From what I understand, it's a fairly common practice for large businesses and store chains to use monthly lines of credit to pay its employees. I dread what happens when they announce they can't pay their people. As for personal credit---ugh. At this rate, nobody will qualify for a mortgage unless you have phenomenally perfect credit and can pay 99% down.

 

[xpaeanx]

The situation with the credit market is disturbing. From what I understand, it's a fairly common practice for large businesses and store chains to use monthly lines of credit to pay its employees. I dread what happens when they announce they can't pay their people. As for personal credit---ugh. At this rate, nobody will qualify for a mortgage unless you have phenomenally perfect credit and can pay 99% down.

yes it is, they need their lines of credit to survive. as far as personal credit... yeah... no one will be getting a loan anytime soon. for anything.

The sad thing is that it's a self-eating cycle. To have a good economy you need people to spend money, to make people spend money you need a good economy.

Lines of credit are being taken away bc banks are afraid they won't get the money back, companies are going out of business and laying people off bc they need their line of credit to operate

 

[Miakoda]

for all the people that think this 'doesn't involve them'. welcome us to YOUR planet. you think you have secure jobs that can't waver.....seriously, are you living here?? not NOW maybe...but life trickles down..YES, even to your 'secure' job. what? hard times doesn't include YOU? ok. head in sand.

it's about true discussion here. HARD ECONOMIC TIMES includes EVERYONE. to post how 'safe' you are.......is..............just........a little .......I don't know, sad. I'm sad for you. here's to hoping you're right.....but it isn't likely. so jump on this planet, then let's try to find life options 'in case' (for you peeps that are sooooo safe). THEN let's talk about what we might do to help each other.

I never said we were "safe." But I DO know that one is NEVER "safe" so I personally will not act as if the sky is falling. Nothing is ever 100%. Nothing is ever guaranteed. But it is MY job to do what I can for myself, not sit back, complain, and rely on the government to bail me out.

 

[SharkyX]

for all the people that think this 'doesn't involve them'. welcome us to YOUR planet. you think you have secure jobs that can't waver.....seriously, are you living here?? not NOW maybe...but life trickles down..YES, even to your 'secure' job. what? hard times doesn't include YOU? ok. head in sand.

it's about true discussion here. HARD ECONOMIC TIMES includes EVERYONE. to post how 'safe' you are.......is..............just........a little .......I don't know, sad. I'm sad for you. here's to hoping you're right.....but it isn't likely. so jump on this planet, then let's try to find life options 'in case' (for you peeps that are sooooo safe). THEN let's talk about what we might do to help each other.

Interesting theory... but some industries simply don't waiver that much and not every nation is effected as much as yours. So it's entirely possible for some people to be reasonably safe(nothings ever 100%) without having there head in the sand.

Surprisingly some industries are in periods of growth even despite the hard economic times that include everyone.

 

[HoundedByHounds]

my dh works in commercial lending and he says they have been VERY busy doing what they do...lending money to businesses. Their problem is finding enough OTHER banks so they don't have to foot the whole thing themselves.

 

[Miakoda]

Good post, Sharky.

As for credit, I can only speak of our situation, but we do not have any credit cards. We did, we ended up using them to live outside of our means, we ended up in approx. $6,000 in debt, and we paid them off and cut them up. We have one single card left and it is literally only in the event of an emergency and only to use when every other availble option has been put on the table and discarded.

I think a lot of the issues with credit cards (not really talking about college loans here) is that people use them to fulfill wishes and desires and wants, specifically those that they otherwise cannot afford. And then they end up in debt. And then they want someone else to step in and save them.

Having been there, I can honestly say it was nobody's fault but our own and we did not expect to be "saved."

My husband bought a truck we could not afford. We sold it. We took a loss, a big loss, but it was better to pay $5,000 to get rid of it than end up in bankrupty court screwing everyone and hurting ourselves because the $750 monthly payments killed us.

We did NOT buy a house we could not afford. We understood that it was OUR job to research loans, interest rates, all the terminology involved, and despite being approved for a $210,000 home, we bought one at $128,000.

At some point, people need to be held accountable for their own actions. No one else made someone do something they did not want to do.

 

[CaliTerp07]

for all the people that think this 'doesn't involve them'. welcome us to YOUR planet. you think you have secure jobs that can't waver.....seriously, are you living here?? not NOW maybe...but life trickles down..YES, even to your 'secure' job. what? hard times doesn't include YOU? ok. head in sand.

it's about true discussion here. HARD ECONOMIC TIMES includes EVERYONE. to post how 'safe' you are.......is..............just........a little .......I don't know, sad. I'm sad for you. here's to hoping you're right.....but it isn't likely. so jump on this planet, then let's try to find life options 'in case' (for you peeps that are sooooo safe). THEN let's talk about what we might do to help each other.

I don't think that's fair. Some jobs are a lot more secure than others. Some professions are cyclical, others are more steady. A math teacher will be more likely to keep their job than the music teacher. (And a professor with tenure? Golden...) A restaurant owner will suffer during an economic recession more than the government worker will. The childless couple with dual incomes is probably going to feel less crunch than the single mother of 2. Etc, etc.

Yes, no one is invincible, and an Enron-type scandal could happen to anyone, but you can't live every day in misery, expecting the worst to come. I grew up in California, where earthquakes are a fact of life. You prepare, you learn what to do, and you go on with your daily life. Then I moved to the east coast, and met so many people who said that they could never live there because "THE BIG ONE IS COMING". Uh, okay. That kind of mentality misses out on life. Yeah, you'd be an idiot to build your house on a cliff over the beach, 10 stories tall out of brick. Same way you'd be putting yourself in danger to take a risky job, buy a house you can't afford, etc. But if you PLAN, and buy a house that's up to code (or go after a job with stability), when the earthquake comes, a few glasses might break and a window might shatter, but all in all you're still good to go.

Maybe that's a lame analogy, but I can't stand it when people miss the sunshine because they see rain in the forecast. Carpe diem.

 

[Laurelin]

I'm not too worried. Worried about my own future, sometimes. I'm very busy with school and luckily my parents help me pay for the essentials. Hopefully I can get a job when I get out- that I do worry about.

Dad's been through some really bad times before, when the oil industry crashed in the eighties. I remember the guys sitting around without anything to do for months, they couldn't afford to drill. The oil field is certainly not doing poorly right now, so we're lucky on that front.

I feel very blessed for the financial situation we're in, but I know it's come through lots of hard work on both my parents' behalf.