How are you Affected by the Economy?

[shel90]

Just got news today that my dad's business that he owned for almost 35 years just folded and my stepmom is getting laid off. They lost almost all of their retirement funds and will need to collect unemployment. Growing up, my dad had weatth..several homes, boats, trips, and etc so it was shocking to read that he will be collecting unemployment and also heartbreaking about his business cuz it was like a part of the family and how my dad worked so hard for it. I couldnt stop from tearing up all day just thinking about my dad and worrying about him. Does that mean we will have to take care of them when they are too old to work? So many things to think about in the future.

My friend just told me that she may have to foreclose her house due to their financial struggles and not being able to keep up.

My neighbor is 3 months behind her house mortgage and had to get 2 new roommates to help with the mortgage because her boyfriend got laid off from his job.

For me, we arent going out as much, not buying as much and constantly thinking about how to save driving and gas time. I have been borrowing money from my daughter's college funds to pay for daycare costs but since gas has gone down, it may get better.

How has the economy affected you and your family/friends?

I really hope things improve cuz this is just too much.

 

[Jolie77]

Ouch, Shel. That really sucks to see your father and stepmother being affected by the economy crisis just as much as everyone else are being affected by this too.

I hope that somehow, someday that this country will be able to make a turn and to prosper for the better in aspect of the economic crisis.

I, too, have been affected by it as well. I've been faced with so much medical bills that I could not keep up with by trying to get my autistic son's needs that are met. The heath insurance is not much of a help these days.

Also, my job is downsizing and cutting out the hours as well. They've been laying off some employees one by one, slowly that is. That's what worries me the most because right now I still have a job but there could be a real possibility that I could be the next to get laid off. I just pray that it won't happen. Since my working hours has been cut down, it's making it harder to meet the ends. I've been downsizing on the groceries, traveling less, trying to conserve as much as I can with the electricity, water, heating gas, so and on.

 

[Hear Again]

Shel,

I'm sorry to hear about your father and stepmother.

My sister has had to work overtime and withdraw funds from her daughter's college fund because she lost $20,000 from her 401(k).

Fortunately, her home is paid for, but she's watching her spending when it comes to her family budget. I really feel for her because there are nights she comes home completely exhausted. She could change jobs, but she has worked at her current position for the last 17 years.

We've often talked about how difficult this year has been for her and she has mentioned how lucky I am to be on Social Security disability. If I could, I would change places with her because I can't imagine how difficult it is to put food on the table and stick to a monthly budget when there are two teenage children to care for.

It's been hard for her and she's looking forward to Obama winning the election so he can turn our economy around.

 

[Babyblue]

We are in the process of refinancing our home. To make ends meet.

 

[Gemma]

My parents are losing hundreds of thousands of dollars - practically all of their life savings They were planning to retire in a year or two but now will have to continue working to keep their heads afloat due to loss of their investments.

I could lose my job any day - everyday I show up with baited breath. Never know....it is more about cost of living that scares me - inflation is rising up rapidly that the gap between my budget and fun money is quickly closing in. Soon will have to sacrifice many things I took for granted. Because of that I have stopped seeing doctors, etc as cannot afford rising medical bills. Even though my best friend is undergoing chemothreapy for her ovarian cancer yet I wont get mammogram or routine check ups etc only because of the costs

 

[Tousi]

Shel and Gemma, sorry to hear about your folks.....

 

[SCBassist]

On the bright side, I am gradually cutting back where I find I can, like walking - driving less, quicker showers, cooking healthier at home, etc As I see how more energetic and efficient I've become, I've suddenly realized how wasteful I was. But I don't put myself on brutal restrictions, I allow a sinfully wasteful day every now and then.

 

[Bottesini]

Driving as little as possible. Using more effiecient zone heating. Wash clothes in warm instead of hot. Microwave more than oven when possible. Water heater temperature lower. Much less eating out.

 

[Endy]

Ouch! Yeah, I am affected too. Hang in there, buddies!

 

[Tousi]

Maybe we all should form our own little village; just think of the volume prices we can get and remember bartering is still alive and well.

 

[Hear Again]

Maybe we all should form our own little village; just think of the volume prices we can get and remember bartering is still alive and well.

But if we all did that, it wouldn't be a village now, would it?

 

[Tousi]

But if we all did that, it wouldn't be a village now, would it?

There's no way membership of AD would be bigger than a village. So how about it? U game?


Second thought, Shel's glaring at me...better getbackontopic.

 

[Hear Again]

There's no way membership of AD would be bigger than a village. So how about it? U game?


Second thought, Shel's glaring at me...better getbackontopic.

I'm in.

Oops! I think I hear Shel coming just around the corner.

Back on topic...

 

[Brian]

Yes, mine is getting there. I have cut down on traveling expenses for a while now.

My mother told me recently that the big bosses came in and had an open meeting with every employee in her department warning that if errors are found again on the products, then every of them in the same department would be fired even if they weren't responsible for it. I told my mother she should call the news investigation team about it, so that way they will check it out and expose Warren Buffet (yeah one of world's richest man) and his firm.

 

[web730]

Shel, so sorry about your folks suffering big time! It sucks.

I'm sure it affects so many people out there. It hasn't affected mine yet but stay low since last summer... less spending and traveling. My wife is experiencing few hours less per week with her part-time job.

Plan to look for a part-time job soon yet wonder as if there is one available for me. I wouldn't put high hope on it.

A friend, who visited over my place last weekend, lost about a half of his 401k.

It's so shame about the US economy that overwhelms so many Americans and others. May God prohibit the depression to come! Just hold on hope for the better things to come.

 

[Liebling:-)))]

I'm very sorry to learn about you and your family, Shel90, Jolie77, Gemma, Hear Again and more ADers... I know it's very sucker!!!! Yes I know how you all feeling because it also affect my hubby, too since world economy crisis.

It affects Robert Bosch GmbH as the world's biggest car-parts supplier and rank where my hubby works because the many countries including America around the world cannot afford to have European cars anymore due finiancal crisis. Nobody buy European cars... The carmaker companies stop to produce more cars, that's why the car parts is not able to deliver to Examination Division where my hubby work.

My hubby told me that nothing to do in Examination Division got him crazy... just nothing... stare and walking around.... No car parts deliver.... for weeks...

They have to empty their leave annual and overtime hours to end of December because Robert Bosch GmbH will close 1st week of December until end of December. From 1st January, my hubby will have to stay home to collect 60% unemployment benefit and 20% from his Employer which mean that he lose 20% for stay at home up to 2 weeks only in January 2009. My hubby told me that accord the meeting at work that their Employer is consider to reduce working hours after 2 weeks in January... until Economcy goes okay... cars are able to deliver to the world...

It's not just Robert Bosch GmbH but more German carmaker companies.....

German carmaker companies are going to close 2nd weeks of November to end of December then......????

 

[Foxrac]

Yup, I had affected by high gas price in during early and middle of this year, at my workplace, they are start strict monitor on overtime, we are no longer to earn overtime anymore, if so then would cut some of minutes or hours for work and they are less and stop to hire new employees until max has been decline, flight truck has been cut and merchandise has been reduced from deliver into store, they adopted new overstock system to monitor on number of merchandises, if full or enough to meet the supply then will stop deliver of exact merchandise until it has been low stock or out of stock.

I had tried invest my money on college but failed.

 

[Byrdie714]

How has the economy affected you and your family/friends?

Whoa!

I can tell youright now the economy is hurting the hotel industry really hard as many people aren't taking vacations.

Last year we were 80% occupied in October and November due to the "sunny" season that we get at this time of the year plus we were always packed on 3 day weekends and Clamming weekends.

Already this year--we are down 70%! The weather has been beautiful and gorgeous but we are still empty. Maybe 3 cottages occupied and not the entire Cove.

Secondly--we just had our first Clamming weekend and we only ended up renting out 4 cottages out of 11.....

Next weekend is Veteran's Day weekend and out of 11 cottages--we only have 3 rented out.......

So we are making drastic changes to entice people to come and stay, such as Pay for 2 nights-get the 3rd night free as well as a 10 percent discount, etc, etc.

 

[jillio]

Wow! I am sorry to hear about your family's troubles, Shel and Gemma. It is a sad time for so many in this country right now. People have worked hard, achieved the American Dream, and then have had it jerked out from under them. This country needs to be turned around big time.

How does it affect me? I'm broke! My income covers my basic neccessities. Housing, food, clothing, books, and tuition. A friend of mine wanted me to come visit her in Seattle where she is in a Ph.D. program over winter break. I'd love to go. I can't afford it.

 

[Byrdie714]

Wow! I am sorry to hear about your family's troubles, Shel and Gemma. It is a sad time for so many in this country right now. People have worked hard, achieved the American Dream, and then have had it jerked out from under them. This country needs to be turned around big time.

How does it affect me? I'm broke! My income covers my basic neccessities. Housing, food, clothing, books, and tuition. A friend of mine wanted me to come visit her in Seattle where she is in a Ph.D. program over winter break. I'd love to go. I can't afford it.

Oh that sucks! I would've have you and your friend come stay on the coast for free!