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

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
New Member

Re: What steps are you taking to weather the economic crisis?

I purchased "Quicken" and listed all of the debt, income, fixed debt - ex: telephone etc., food. This program also downloads from my bank savings and checking. It also balance my check book daily. Also, it works with Turbo Tax. You are able to complete your own tax return based on the information you have set up in "Quicken".

Buy the Official Guide to Quicken first and read it you won't be disappointed. Best of luck to you!

Message 31 of 36
Regular Contributor

Re: What steps are you taking to weather the economic crisis?

I have rebudgeted our money to see where we can cut.  There are a few things I can live without.  Working on paying off my credit cards this year and should be done in about 6-7 months.  Opened a savings account and starting small.  I have listed all the things that I have installment loans on and as soon as I get the credit cards done I am going to put that money towards my car payment and then the student loans.  We eat at home most of the time and using more coupons then I ever did.  Limited the car to one tank of gas a week and after it is gone I don't drive for the rest of the week.  Also looking for a job to supplement our income at this time and try to get out of debt as soon as possible.  Sometimes good things come out of hard economic times.  It makes us really look at what we really need vs. what we want.  To me being debt free is my goal and I will just keep working on it until I succeed. 

Starting Score: 800
Current Score: 800
Goal Score: 850


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Message 32 of 36
Senior Contributor

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

1.  paying down my CC debt (almost there!), so we can start paying on my gf's cards.

 

2.  eating at home.  we ate out way too much, which was fattening us up but emptying our pockets.

 

3.  put $1000 of our tax return into savings, resisting temptations to spend frivolously.

 

4.  keeping our car maintained so that we can try to avoid big repair bills.

 

5.  getting back into couponing & paying more attention to sales, like we used to.

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 33 of 36
New Visitor mch
New Visitor

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

Using cash for all entertainment is saving us a bundle.
Message 34 of 36
New Member

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

I bought a house! I know it sounds crazy, but yes, I bought a house. I purchased a townhome that assessed for $110K for $70K, with only $2,200 down. They pay HOA dues for a year, they bought a home warrenty, and they paid closing costs!!! I lowered my monthly payments out by $150 as a renter- paying $610/month in rent. PLUS, I still don't have to shovel snow!!!
Message 35 of 36
Member

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

That's true. If you can take care of the necessities of life I don't think there is anything called recession.
Message 36 of 36