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Just wondering if anyone is close to the end of their rope?
What happens when you run out of money? When the employment checks stop coming? And the credit cards are all denied?
What do we do then?
For some it means going back home if you have family.
If you can't get another job or add a second or third job then find a roommate or 2. Sell off anything that is worth anything. Stop buying. Cut "all" expenses that can be cut. No more going out and no shopping even if it seems like a bargain. Stay away from stores. Try to make some extra money. Offer housecleaning, pet sitting, pet walking, a shopping service, lawn service, run errands for people, get a paper route, wash dishes at a restaurant, at least you will get fed. There are "usually" options just not necessarily ones that you want. I remember times when I worked 3 jobs had no TV, no phone, and it was a struggle to keep my electric on and hardly any food. You just have to keep moving forward one step at a time.
Look for assistance from churches, local food shelters, etc.
Either go with family or the homeless shelter. I volunteer at my local shelter and there are so many families that used to work and have homes are now basically destitute and depend on shelters and the like to live and feed their kids due to unemployment which is totally different from being irresponsible.
work food and shelter, been like that for me pretty much the entire time, my priorities.
i have an edge over most in this, i knew for some time that debt is just plain evil, we can thank my ex for that.
A friend of mine had major financial problems and she had to live in her car for 2 months. She got bread, bottled water, and canned food from church food pantries and kept her gym membership so she could at least use their shower. She went through this during the summer, I'd imagine it'd be much harder during the winter. Oh, and she parked and slept in her car at WalMart. She now describes this time of her life as "an adventure," though I'm not sure if she means that in a positive or negative way.
I forgot to mention that she sold her plasma for a bit of extra money, and she did her laundry at one of those coin laundry things.
Last edited by Kaye02; 05-20-2009 at 07:50 PM..
Reason: Forget to mention....
Oh my "a coin laundry thing". They are called LAUNDROMATS and the guy that taught me the most about real estate investing owned several of 'em. Lots of ready cash for what ever he wanted to invest in! Very nice!
As to the theme of the thread: IT SUCKS! I mean what sort of poor attitude is suggested by "when you run out of money, credit and all that"?
I have had DOZENS of jobs in my life. From crummy jobs when I was still in high school where I'd have to clean out toilets in fast food restaurants to things that require a lot more skill and pay much better. They key was never how much I made, but how much I do not spend. I am not going to preach the "cash only gospel" because I do use credit. Sometimes a little, sometimes a lot. When I do use I ALWAYS weigh the likelihood of the leverage that credit allows being used 'against' me -- does NOT make sense to use credit to pay for things that are likely to decline in value more quickly than I can pay them off. Simple, not always easy to stick to, but the standard I use.
I have lost jobs due to forces beyond my control. Companies reorganize, positions get cut. I maintain a cushion of cash for emergency. I do NOT have every last dime committed to something. I know how unpleasant it is to be out of work, and when I have been out of work I push myself to get a job that pays better and is more secure -- does not always work out that way, but I try and I have done pretty well.
I am not heartless, I know there are all kinds of reasons that some people need a helping hand, and I do my part to help people worse off than I am. I have even tried to give some time to help people understand that even when they think they are flat broke they still have lots of ways to come back.
Many of the most successful people in American have been broke, they learn from their experience and use it to NOT make the same mistakes.
I would hope any one facing current difficulties would do the same.
I know a few people who went through all their financial options during long periods of unemployment, now have good jobs, but every possible bit of cushion is gone. If anything happens, they have nothing behind them. It will be tough to build up again what took years before.
And not everyone has made dumb mistakes. This economy is brutal.
Totally agree, lots of people did not make 'dumb mistakes' and still took a drubbing -- working for a certain famous global leader in insurance was probably pretty smart, the fact that a few dozen other people that worked there brought massive scrutiny / devaluation upon the firm was outside their control.
The 'survivors' that improve their skills and can put this behind them will either stay with the firm as it regains it prominence OR move to another firm that can move into the vacated slot of the former leader.
Very disruptive to lives, and such, but also another reason to NOT keep all ones eggs in the same basket. In fact of the folks I know that were effected by this and did the best, they already were NOT doing that because they feared an "Enron like" collapse of both their employer and investments. Hard to stick with it when that means passing up great returns on the way up, but a sigh of relief when you think about how the bad could have been worse...
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