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What are you doing to weather the economic crisis? See the results of this poll.

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Established Member

Re: What steps are you taking to weather the economic crisis? See the results of this poll!

Broadening my skills in accounting and other courses that I love!  Found accounting practice sets that teach  me how to  do financial accounting payrolls for $.59. Found books for $.01 on Amazon too.

 

Making simple meals through the use of online recipies.

 

Watch movies on cable rather than go to the video store.

 

Shred credit cards offers.  

 

 

Message 21 of 36
Established Member

Re: What steps are you taking to weather the economic crisis? See the results of this poll!

My husband was laid off last Thursday, so we are spending less, clipping coupons, cut off cable, he is looking for a job, I am looking for a second job, anything we can do to save money. We just moved into a new house in July and I am a first time homeowner, so I will be darned if I lose my house.
Message 22 of 36
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New Member

Re: What are you doing to weather the economic crisis? See the results of this poll.

I have kept a budget for a number of years, so that part comes easy to me. Want to buy a house in the next year or so. The mainthing I have done is basically have stopped using my credit cards. I now have only two and one is PIF. I am planning on having the other one PIF by Christmas. I have  stopped spending money outside of paying my bills and all the "extra" cash is going towards paying my credit card. It has not been easy but I'm doing it! I have to be a little bit obssesive with it all, but I keep dangling that credit card debt free apple in front of me to keep me going. Then I will start to save for that emergency fund and of course towards a downpayment on a house. Have I said it's not easy??!
Message 23 of 36
Senior Contributor

Re: What are you doing to weather the economic crisis? See the results of this poll.

I put my Netflix account on hold, and cancelled HBO and SexMax (aka Cinemax). Used one of those $1 a night MovieCube machines to rent "Casino Royale" last night.
Message 24 of 36
Valued Contributor

Re: What steps are you taking to weather the economic crisis? See the results of this poll!

I have changed nothing. I still live within my means, I am not late on my paymets, always PIF and read my signature.
IN VINO VERITAS.
Message 25 of 36
New Member

Re: What are you doing to weather the economic crisis? See the results of this poll.

Hello from a new member to the forums!

We have been managing our finances for quite sometime, so there really isn't a whole lot for us to do during these times of uncertainty. However, having said that, I noticed two things that we do that hasn't been mentioned yet:

1 - Don't lose your money -
From previous research I've found that most people lose on average $52 to $59 per week. For example, say a person leaves the house to go to work with $20 in his/her pocket and arrives back home at night with $4.20 left over. You ask him/her what they spent their money on, and they can't remember exactly where all it went. That's losing money. If you fall into this average, then as a couple, you can save up to $100 per week, or $5,200 per year. If your disposable income is $50,000 per year, that is better than a 10% raise!

2 - Channeling all of our expenses through a Credit Card that has no charges and pays rewards (Pay full amount each month leaving no carry over balances). If you have temptation issues this isn't for you. We cash in our rewards every year in December and use the cash to pay for ALL of our Christmas gifts and expenses. Having said all that, I'm not a FICO expert and cannot tell you if this practise is good or bad for your score, but again, it brings us at least a 20% raise in our disposable income, so we're not complaining.

Message 26 of 36
Valued Member

Re: What are you doing to weather the economic crisis? See the results of this poll.

1) I check my accounts daily and pay bills as soon as they appear on my accounts, 2) I save a minimum of  $1100 monthly 3)  I record all expenses -- both large and small, 4)  I categorize my expenses  and 5) I maintain an ongoing budget which I review daily. 

 

I log onto this forum daily -- I'm  finding that many folks post helpful and/or supportive messages.

 

I try to stay on the lookout to receive ideas from Suze Orman.

Message Edited by Henrietta23 on 30-12-2008 08:32 AM
Message 27 of 36
Senior Contributor

Re: What are you doing to weather the economic crisis? See the results of this poll.

Shortly after I left my last gig back in the summer, there was a purge. My cat-like reflexes appear to still be serving me well. Two friends of mine who were among those cut just started here at the place where I'm at, y'all. [That y'all was simply to avoid ending a sentence with a preposition.]

 

Lots of my former coworkers, those working and those not, joined up on LinkedIn.com so I signed up. It's free. Fairly easy way to keep up with past coworkers, 'cause ya never know who will help you get your next job.

 

So, my advice is sign up on LinkedIn, and again it's free.

 

Second, do what you can to help unemployed friends 'cause karma can be a blessing or a beast.

 

Message 28 of 36
New Visitor

Re: What are you doing to weather the economic crisis? See the results of this poll.

Firstly, I used to drive for about 40 mins to get to wk and i own an SUV so i get a new job just 5 mins away, although I took a pay cut, the difference in gas expenses, time to work and rist of long freeway driving overshadows the difference. secondly, i don't plan on any new cars as i used to, rather i have completely maintain my present vehicle. finally, I eat less out and cook more ar home and has actually discovered that I have lost over 10lbs because i eat healthy. Hey guys, if you can avoid it, stay away from street food. that is a real killer!!!
Message 29 of 36
Moderator Emeritus

Re: What are you doing to weather the economic crisis? See the results of this poll.


trooye wrote:
Hey guys, if you can avoid it, stay away from street food. that is a real killer!!!

Ditto. Killer to your wallet and killer to your health.

Message 30 of 36
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