What Will YOU Sacrifice For The ECONOMY? (companies, tax, income)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: where you sip the tea of the breasts of the spinsters of Utica
8,298 posts, read 14,124,165 times
Reputation: 8104
My main luxury is my home entertainment system (laptop and internet). I don't get cable anymore .... nor do I buy music cds or movie dvds. I don't drive anywhere unless I absolutely must, except once a week I go out to the local mountain, woods, or lake which are close by.
I'm relying much more on Walmart except for fresh foods at a supermarket and health foods at the healthfood store (but even there it's about staples from the bulk bins, not pills).
I've cut way back on processed foods and even fresh foods, using more rice, pasta or potatoes with a little chopped up veg and meat, or I make my own bread for sandwiches.
My drink has become cold water, and on rare occasions milk for the calcium and other nutrients.
I would like to know how people are doing things honestly with all that is going on...
How do people who live on $35K ,have both kids in multiple activities,go to Disney world and other vacations in the same year,buy new furntiure for their house,buying new clothes-constantly,etc...
Claim they aren't using credit. Strange seeing as we have an income that is almost 3x that and can't go on our vacation this year,don't go out to eat or really have any extra activities that we do.
These people also have their own activities in addition to their children's and they go to the movies about 2x a month ...
It doesn't add up to us ?
Not sure where I see many people cutting back honestly.
I recently suspended my IRA & mutual fund contributions because I'm sick of throwing money down the toilet. My statements are full of red . I'm about 30 years from retirement anyway, so 9 - 12 months without contributions will probably not make a difference. Instead I'll be adding that money to our car note so we can pay it off about a year early. I hate losing the tax benefit, but dropping that car payment is more important because we'll see it sooner.
My family is not doing anything different. We have always been poor so this is nothing new. We are used to it. Always shopped at wal-mart, never new cars, always rented apartments. Funny thing is all of our vehicles are paid for so being poor we have no debt which makes us rich.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,695,446 times
Reputation: 3587
Quote:
Originally Posted by Dd714
Not sure I understand this topic. Cutting back and sacrificing, ironically, will make the economy worse. Obama's stimulus package is intended to get people to spend, not cut back.
To a degree it is but the main focus of it is jobs for people. Even with those most people are having to cut back.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,695,446 times
Reputation: 3587
Quote:
Originally Posted by ufcrules1
Kevk,
The grand canyon is a must see. Vegas isnt all that special though.
I have been to Vegas 4 times but my wife has never went there. All 4 times were to a convention. I have not been to the Grand Canyon and still hope to go but for this year it is out. We will probably be going to Palm Beach Florida- again because my sis in law lives there and has a big house we can stay in and it is a day's drive.
Even before this recession, I said I would make my current car last me as long as I can. I'm sticking to that.
We recently got rid of DirecTV and eventually we're going to get the bare minimum home phone.
I already shopped at Wal-Mart for groceries but I plan on going to a locally owned grocery store that sells organic and locally grown produce. I figure I'm doing my part to help farmers in the state....and it's good for the environment.
I'm not buying clothes as much as I used to.... but I didn't buy a lot to begin with anyway but I've cut it out even more so.
Lucky for me I dont have to sacrifice anything....yet. Although since this economy is **starting** to slightly get better since the consumer spending index went up by .6% in Janruary and with this stimulus package starting to being put into action in April/May I may not end up having to sacrifice anything.
Location: where you sip the tea of the breasts of the spinsters of Utica
8,298 posts, read 14,124,165 times
Reputation: 8104
Quote:
Originally Posted by Dd714
...... But for some, if you have a fixed guaranteed income or secure employment, this economy works to the advantage - prices are lower, consumer buying incentives are out there, and since savings rates are low you have no incentive to save.
IF you're job is perfectly secure for life, then you have nothing to worry about. But who has perfect job security in an economy which is likely to rival the Great Depression? Not many. Most people need to save because there's a very good chance they will be laid off.
As for a fixed income, at this time those people could spend what little they have with inflation being low, but food inflation is still fairly high. In addition, the massive stimuluses are likely to lead to high general inflation in the future, so while their income may stay the same it will buy much less. It makes sense even for them to save as much as possible to prepare for that.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.