Not to be a politically charged thread, just a general discussion of things.

We are all aware that the economy sucks right now, and apparently forecasters are saying there is light at the end of the tunnel - starting sometime the end of this year. Of course, I won't hold my breath. If it turns around then great - but I am not banking on anything at this point.

My question basically is: How has this economy affected you, personally?

As most of you know, my family is an Army family. I would like to put to rest the myth that being in the Military banks a ton of money! It doesn't. Some Military personnel make just above the poverty level. (Depending on rank of course.) And of course, we live on Post. Here is another myth I would like to put to rest. We still pay to live in Government Housing - it isn't free. They keep an amount from my husbands pay to cover the 'house' and all utilities. Of course, every month we also get a utility bill, showing us what we used and what, if we had to pay for it, we were over in our consumption.

While we were in Texas, we bought our house. We were there for 6 years, so it just made sense to buy a house instead of forking out money to rent. Not to mention that our mortgage is at least $300+ cheaper that renting a house of the same size on the market. (Almost 1200 sq. ft. 3 bedrooms, livingroom + den.)

And now of course, we live in New York State. Hubby was transferred here. When they say you go, you have to go.

We struggled to try and sell the house before we moved, but of course, that didn't work out. So we rented it. We didn't even go over the mortgage amount to rent it. All was going great of course, until half of the Post in Texas received deployment orders, again, and we received notice from the tenants that they were vacating. They left in February.

So now, in this economy, our house sits empty. We have been trying to rent it, but because half of the Post in Texas is deployed, there is an over-abundance of housing and not enough people to rent. We still want to sell it as well, but people anymore do not want to buy an older home, they want brand new bird cages that look identical to their neighbors.

Now, in this economy, we are stuck paying the mortgage on a house we are over 2400+ miles from, and paying to live on Post. Two payments!

I have always run a tight ship, so we are more or less ok. It is just frustrating that this economy won't allow for us to sell the house when we need to. I have even contacted house flippers and those places that buy houses as is - no one is buying! :-[

Well, that is my tale of woe. Anyone else going through hard times right now because of the economy?

I'm extremely fortunate that my line of work hasn't seen many casualties...yet!

There is, however, the spectre of redundancy hovering in the background...which is fine as long as he doesn't get too close!  :o

I'm pretty sure that should I lose this job, I'll have a nigh-impossible task of finding another!  :-\\

Stay strong, everyone!

I feel a bit guilty because the economy hasn't hit me personal-but I can feel others' pain. I try not to brag about the luxuries that I have & can afford-and yes, they are luxuries and I know it. I always tell everyone that I am a spoiled-which I am. It does help that our cost of living is so low as opposed to our income.


BTW, I DO know what it is like to be hungry-something I will NEVER forget.



Cat

I'm extremely fortunate that my line of work hasn't seen many casualties...yet!

There is, however, the spectre of redundancy hovering in the background...which is fine as long as he doesn't get too close!  :o

I'm pretty sure that should I lose this job, I'll have a nigh-impossible task of finding another!  :-\\

Stay strong, everyone!


And yet is the operative word, isn't it?
I hope you fare well Paul. 8)

I feel a bit guilty because the economy hasn't hit me personal-but I can feel others' pain. I try not to brag about the luxuries that I have & can afford-and yes, they are luxuries and I know it. I always tell everyone that I am a spoiled-which I am. It does help that our cost of living is so low as opposed to our income.


BTW, I DO know what it is like to be hungry-something I will NEVER forget.



Cat





You shouldn't feel guilty Cat. Not everyone is feeling the effects. 8)

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The other thing that gets me is how people are working against the economy right now. Stimulus is given in hopes that people will spend the money - put it back in the economy. However, we are doing it wrong. We are saving the money instead, and hurting the economy further..... weird how that works isn't it?

We have tightened our belts at work but no casualties.  It helps that we do a service to other companies that helps save them money because they don't have to pay an employee and all the taxes to do it.  The specter of no job is always there and I am trying hard to save just in case.

I now have very little spending money.  What I do have goes for necessities anyhow.  Ordering out dinner.  Haven't done that in months.  It's pretty tough.

The testing companies have stopped counting us as employees, so now I am self-employed (which I'm not).  That means that instead of a refund, I owe the IRS $480...all well and good except for the car repairs I need.  I have had to put my student loan in deferrment AGAIN, racking up interest at an incredible rate so that I could scrape the money for the IRS and car repair....gotta do it again to get the money for a timing chain now.

In other work-related effects, I lost a part-time employee who will not be replaced.  The cuts are going to go deeper before this year is done.  I have ideas of what my boss is thinking, but right now they are just her ideas....let's just say some of them are drastic and won't go over very well.

My parents need to sell their house so they can do some downsizing of their own.  Their house has been on the market for 3 years.  They have lost most of their savings because the money was investments and we all know where Wall St. went.  I am scared to look at my retirement account for fear of how much I've lost.  I have no money saved even with working 40 hrs a week, teaching 2 nights a week and a lot of time spent on out of office testing.  I buy groceries every other week and have cut out luxuries like as many fresh vegetables as I used to buy each week.  I also keep my heat at 62 degrees, which to me is very cold (I keep a blanket and comforter on the couch).

I have job security...for NOW.  Who knows how long it will last.

um.... i just figured something out...

Bobo! Someone's onto us!

Bobo! Someone's onto us!


On topic you must stay in the TTT Tam!  Whee!!!

Silly... I just jacked the thread!  ;D

Well as many of you know Himself lost his job just before christmas. Thankfully after 6 weeks he got the temporary job he is in now. The pay is terrible but as he says at least it's better than earning nothing and we are just about covering all the bills. Not sure what we will do when this position ends.....

He has worked non stop ever since he was 18 and always paid his tax and national insurance, but because we live together he has been told he is not eligable for benefits because I work. They have no idea where or how long I work or how much I earn and they don't care!! I work so that is it.  >:(

His best friend lost his job this week, my best friends partner lost his job last week, my brother has been out of work since october to name but a few........I've never known so many people in desperate situations. My brother went for a job and there were 480 applicants!??! Their mortgaga needs renewing at the end of the month and their current vendor has told them if my brother doesn't have a job by then they won't renew! This is despite the fact they have never missed a payment. It sucks.       

Well as many of you know Himself lost his job just before christmas. Thankfully after 6 weeks he got the temporary job he is in now. The pay is terrible but as he says at least it's better than earning nothing and we are just about covering all the bills. Not sure what we will do when this position ends.....

He has worked non stop ever since he was 18 and always paid his tax and national insurance, but because we live together he has been told he is not eligable for benefits because I work. They have no idea where or how long I work or how much I earn and they don't care!! I work so that is it.  >:(

His best friend lost his job this week, my best friends partner lost his job last week, my brother has been out of work since october to name but a few........I've never known so many people in desperate situations. My brother went for a job and there were 480 applicants!??! Their mortgaga needs renewing at the end of the month and their current vendor has told them if my brother doesn't have a job by then they won't renew! This is despite the fact they have never missed a payment. It sucks.         



Damn, Gis.  :\'(  *hugs*  Hope things improve for Himself and the others soon!

Don't feel guilty,Cat.
It's good You don't forget where You came from.....It helps You to appreciate where You are....
I was very fortunate enough to come into a large sum of money last month...I shared most of it with Siblings {We've always had a thing that when when one of Us is doing well.....all of Us benefit},  Friends & Co-workers feeling the crunch. Not patting Myself on the back,just felt it's the right thing to do.


That's how my sister and I are as well.  We take care of each other if need be.  :)

Let's see...

~ Last year, after expenses, I made a whopping $1300, despite driving 20k+ miles for work and being out of state 1/3 of the year.  I made less money is '08 than any year since I started working 20 years ago... as a part-time busboy at $3.35/hr. I qualify for food stamps and all that other stuff at the moment.
~ My (ex) boss still owes me over $2300, which is 60+ days overdue.
~ My wife has had her hours cut to the point where she is in danger of not being a full time employee, thus losing health insurance (as sheeshty as it is, it's better than nothing). To put it this way: if we had a child, it would be cheaper for her to quit her job than to pay for day care.
~ Suntrust wouldn't even give me a $$ for a home loan - i.e., "you're basically worthless".  ::)
~ I'm going to start robbing cigarette trucks b/c smokes are $4-$6.50 a pack now. Just kidding of course, but I wouldn't be surprised to see delivery trucks getting hijacked.
~ My employment is strictly site-to-site, which is extremely shaky given how commercial construction is going right now.
~ I have not been paid on time or in full in nearly two years.

Some of that is bad/naive choices on my part, most is the economy. Now I don't work until there is cash up front. I can sit at home and lose money. March was a great month for me, so maybe things are turning around.

As bad as that is, it isn't squat compared to some of the stories I've heard and seen. There is a lot of non-cash exchanges happening these days, i.e. bartering.

The good news is that the economy is so messed up that if you are in deep debt you might be able to pay off what you owe for pennies on the dollar. One friend of mine has scraped together enough money to take 80% off offers from collections agencies/creditors.

Ant

On my right-wing days, I curse the fact that I just funded the bailout that'll buy some complete stranger a house this year.

On my left-wing days, I curse the fact that I also paid for a down payment on ex-Merrill CEO John Thain's toilet.

But no matter which wing I think of when I deposit my check in the mail, I have the distinct feeling that I'm royally plucked.

The system only survives because it has the sanction of its victims.  I shoulda quit when I had the chance.  When I put that envelope in the mailbox on the 15th, I continue to be part of the problem.

I wanted to live by myself or with my brother, but it went away starting in January.

My parents owe me $3300, and they want more. I can't give any offering to the church. And now we're selling stuff on craigslist.

The year is going to get worse before it gets better. :\'(

A silver lining has shown itself....

We finally rented the house in Texas!
A huge load off of our minds!

A silver lining has shown itself....

We finally rented the house in Texas!
A huge load off of our minds!


YAY! Wait does that mean I don't get to see you this summer  :\'(

YAY! Wait does that mean I don't get to see you this summer  :\'(


It all depends Girl - but right now I would say not likely.... but you never know what might change! ;)

It all depends Girl - but right now I would say not likely.... but you never know what might change! ;)


well I kinda didn't think so with everything but the selfish side of me was still kind of hoping....  but I am glad you don't have to bear the financial burden of second home... see I can be nice!  :P

I suppose I'm lucky in that I have no dependents and as a general rule of thumb am happy to just bounce from one thing to the next, but I've not been affected at all.

In my line of work, bookings typically are made more than a year in advance (If you thought bands planned their tours a few months in advance, think again, these things take a long time to set up) and there hasn't really been a drop off in events.

I live well within my means and have never had particularly expensive tastes. I live in a nice enough place and have toyed with the idea of taking that hefty government grant and using it as a down payment as a mortgage would be less than rent, but regardless, there's a comfort level.

I think that's a key thing to look at. Live within your means and you're less likely to end up getting screwed. Most of the people in my neighborhood, the guys that I work with, my pals around town, none of them are suffering because they don't have grand illusions of who they are and what they 'ought to have'. The folks suffering are the ones that fled to the farthest reaches of suburbia and poured money in to homes that they couldn't afford in the first place, then when hours are cut or income decreases, they're screwed.

A silver lining has shown itself....

We finally rented the house in Texas!
A huge load off of our minds!


You must be feeling so relieved

I think that's a key thing to look at. Live within your means and you're less likely to end up getting screwed. Most of the people in my neighborhood, the guys that I work with, my pals around town, none of them are suffering because they don't have grand illusions of who they are and what they 'ought to have'. The folks suffering are the ones that fled to the farthest reaches of suburbia and poured money in to homes that they couldn't afford in the first place, then when hours are cut or income decreases, they're screwed.


I agree with you.

Both times we've moved we opted to take out a smaller mortgage than the building society were willing to give us.  The first time we got a joint mortgage was before we had children.  Although I planned to go back to work, I might have changed my mind and we really wouldn't have managed on one income if we'd listened to them.

I think that's a key thing to look at. Live within your means and you're less likely to end up getting screwed. Most of the people in my neighborhood, the guys that I work with, my pals around town, none of them are suffering because they don't have grand illusions of who they are and what they 'ought to have'. The folks suffering are the ones that fled to the farthest reaches of suburbia and poured money in to homes that they couldn't afford in the first place, then when hours are cut or income decreases, they're screwed.


I agree with you.
That's what we did in Texas. We bought an older house instead of a brand new bird house, our mortgage is way lower than anybody we know. It was great while we were living there. But then we were posted to NY, have to live on post because the economy is so high up here and then half of the Post in Texas deployed. There was an overabundence of housing and not enough people to rent. But finally we did rent it and so now we can slowly get back to some sort of normalcy.

We tried to sell it, but of course everyone wants to buy brand new bird houses with mortgages they can't handle. No one wants an older home or even a mortgage under $500 a month. Bizarre world we live in. :D