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View Poll Results: How have you been affected by this downturn?
Yes, I lost everything or almost everything (job, home, car, etc) 3 4.35%
Yes, I lost my home 0 0%
Yes, my income stream has decreased and things are tight 14 20.29%
Yes, my income has decreased and I am getting behind 4 5.80%
No, but I am worried about my job and then I will be affected and likely get behind 8 11.59%
No, I have little or no debt and plenty of reserves, but I am still concerned 30 43.48%
No, I am not concerned at all, the economy will be bounce back 5 7.25%
No, what downturn? 5 7.25%
Voters: 69. You may not vote on this poll

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Old 03-04-2009, 10:56 AM
 
957 posts, read 862,430 times
Reputation: 195

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In 2007 I took steps to avoid being Bushwacked. Sold the house & stocks. I'm hoping that the less money I'll have to take on my work contracts will be made up in spades by getting a house cheaper in a year or two. My biggest worry is that my cash will vanish before I buy a house again. There is ~$4 trillion in banks, and the FDIC has only a few $billion backing that, so things could go to hell in a hurry.
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Old 03-04-2009, 01:33 PM
 
1,989 posts, read 3,844,965 times
Reputation: 1379
Better poll, but still...this answer isn't there: We still have our jobs and savings for emergencies, but are worried and have dramatically cut spending just in case.
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Old 03-04-2009, 03:22 PM
 
17,750 posts, read 15,041,223 times
Reputation: 6377
Still not there for me. We got across the board pay cuts but I have prepared for it . That $16 a week should soften the blow though. I lose a dollar and get a nickle back. . Now I will only cut back 95% of what I was planning. My government loves me.....
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Old 03-04-2009, 10:56 PM
 
Location: Conroe, TX
684 posts, read 1,864,466 times
Reputation: 193
Quote:
Originally Posted by gwynedd1 View Post
Still not there for me. We got across the board pay cuts but I have prepared for it . That $16 a week should soften the blow though. I lose a dollar and get a nickle back. . Now I will only cut back 95% of what I was planning. My government loves me.....
That's right gwynedd1...and don't you forget it!!

We had braced ourselves for this a while back...increased savings, cutback spending, like most everyone else..
since we work based on commissions, we tend to take a "look over yonder" approach to budgeting, by design, anticipating the future while living in the present..
DH every now and then wistfully says he wishes we had sold our CA property in 05/06..to which I always tell him our plans at the time did not include a move to another home, let alone another state...and as I always tell clients..."You do what you can at the time you are doing it, with the tools at hand at the moment"

Looking too far back in your rearview mirror, or studying a crystal ball, well, neither will correct today, so just do the best you can at the moment with what you have to deal with..

so while we are not (for now) facing peril, we are being uber conservative, and will hopefully weather the storm

Good Luck To All....Sincerely...hang in there...
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Old 03-05-2009, 05:21 AM
 
Location: Charleston, SC
5,615 posts, read 12,432,957 times
Reputation: 2525
Voted "No," but really it's brought me more work. Staffing plans were cut back a bit at work, but at the same time there's more to do and I'm busier than ever.
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