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Is anyone else out there scared about the economy?


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#31 Yari

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    Posted 17 July 2008 - 03:28 PM

    [QUOTE=Kathie;468205] We stopped going out to eat a couple times a week too. I was shocked at how much money we spend at restaurants/bars a month. QUOTE]

    We have tried to do this, but we are good for a couple of weeks then we are off the wagon. Last year we were looking at our expenses and realized we sent over $700 in eating out for one month. I was flabergasted.

    #32 Kathie

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      Posted 17 July 2008 - 03:32 PM

      I know right!

      #33 *JillD*

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        Posted 17 July 2008 - 03:48 PM

        Quote:
        Originally Posted by JessicaLovesBrian
        I try not to let it bother me.

        Although I'm always sort of stresed financially just because Brian is soooo not good with money. We had a nice emergency fund in our joint savings and he managed to plow through it all in a month (it was about $10,000) and needless to say that cased a MAJOR fight with us. I've tried to take over the financial aspect of the household, but it's hard because it does all go ino the joint account (although we also both have our own seperate accounts) so Brian can easily transfer funds to his account. I like to have my own safety net with my own account, but since not working (but still having to pay credit card bills) that net is pretty close to nothing.

        So that definitely stresses me out although it has less to do with the economy and more to do with Brian's loose spending habits.

        However because of his spending habits (he tends to blow money on crap we totally don't need) things like rising gas and food prices, etc are becoming more of an issue. He has good job security but you never know. I always like to have a backup and that's sort of been hard to do when you have a spouse who's totally irresponsible with money. And yes I've tried to put him on a budget!

        Oh Jessica, Brian sounds a lot like Steve!! I get so annoyed because I hardly spend any money and he spends money everyday on stupid crap! I get so stressed out about finances, I usually have a breakdown at least once a month, but nothing ever changes.

        the economy is so scary right now!

        #34 Nrvsbride

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          Posted 17 July 2008 - 03:53 PM

          Quote:
          Originally Posted by Kat81
          OK girls... here is a little hillbilly info that might explain the cost of flour, wheat etc,
          They are trying to make fuel out of ethanol, which I am sure you know. In doing so they have to produce tons and tons of corn. To produce the corn like they need to, they need a lot of fertilizer. The fertilizer nationwide is being shipped to the midwest for the corn. In turn it makes the fertilizer hard to get. So, the farmers that were use to paying 125 a ton for fertilizer are now having to pay 500 a ton for it. A lot of farmers CAN'T do that. So, they are either getting out of the farming business or paying it and increasing their prices to cover the cost of it. So, after we factor in the increase in the farmers expense and the increase in fuel to get the produce where it needs to go, that explains the super high prices. If you notice meat is also going up. The same principles apply. The farmer needs fertilzer for hay, it's so high they either have to pay it or supplement with feed. Well, feed is made with wheat and corn and soy beans. All of which have skyrocketed.
          I understand the reason for making ethanol, but really it is what started this whole mess.
          Kat along the same lines the speculators drive up the cost of the corn and cause all these poor farmers to go out of business. Ugggh I hate them! They are the real people who are ruining everything. My best friend works for Goldman Sachs and does the future's market and she tells me how all these speculators ruin it for everyone else by driving up the cost.

          #35 beachbride08

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            Posted 17 July 2008 - 04:01 PM

            Quote:
            Originally Posted by lauren c.
            those of you saying it should get better next year, why do you say so soon? i only ask b/c there are so many conflicting reports and am curious as to why you feel the way you do...
            I'm curious as well. It doesn't seem like things are going to be turning around for the better any time soon, but I am also not an economy expert.
            Michelle

            #36 Kathie

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              Posted 17 July 2008 - 04:23 PM

              Nrvs Bride, you're right. They are trying to get a law passed to stop speculating on gas prices.

              #37 NewOrleansbride

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                Posted 17 July 2008 - 07:48 PM

                Quote:
                Originally Posted by Emily&Matt
                In our generation, the home is looked on as an investment, so when people build up equity, they turn around and borrow more against it, instead of continuing to build it up until they are debt-free. That's the scary part about the housing bubble we just had. There are going to be a lot of homeless, jobless people.
                That is so true! I can't tell you how many people I meet with who have refinanced multiple times in a few years to pull equity out of their home to take a vacation, buy a new boat, whatever. Then, when they have to sell they owe close to what the house is worth. And they don't understand that a buyer cares about current market value, not what "they have to get to pay off their mortgage".

                Quote:
                Originally Posted by cheese_diva
                Just a thought for those who's home value has dropped (I'm guessing everyone that owns), we wrote a letter to our tax assessor to have our home value adjusted to a lower amount in turn lowering our tax rate for the year.

                We're going to try to refinance in the next few months pending on rates.
                Contacting your tax assessor is a very smart move! FYI- rates are expected to start moving upwards in the next few months. It might not be a bad idea to start talking to a lender and have everything lined up to refinance, then tell them to lock you in to a rate when you are ready.

                Quote:
                Originally Posted by *lauren*
                those of you saying it should get better next year, why do you say so soon? i only ask b/c there are so many conflicting reports and am curious as to why you feel the way you do...
                Nobody knows for sure- nobody knows how bad it will get. I say it'll be better by next year because all of the industry experts that I know and talk to regularly are saying that (these people analyze the market and watch investor trends constantly throughout the day).
                -Rachel

                #38 starchild

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                  Posted 17 July 2008 - 08:16 PM

                  Quote:
                  Originally Posted by Kat81
                  OK girls... here is a little hillbilly info that might explain the cost of flour, wheat etc,
                  They are trying to make fuel out of ethanol, which I am sure you know. In doing so they have to produce tons and tons of corn. To produce the corn like they need to, they need a lot of fertilizer. The fertilizer nationwide is being shipped to the midwest for the corn. In turn it makes the fertilizer hard to get. So, the farmers that were use to paying 125 a ton for fertilizer are now having to pay 500 a ton for it. A lot of farmers CAN'T do that. So, they are either getting out of the farming business or paying it and increasing their prices to cover the cost of it. So, after we factor in the increase in the farmers expense and the increase in fuel to get the produce where it needs to go, that explains the super high prices. If you notice meat is also going up. The same principles apply. The farmer needs fertilzer for hay, it's so high they either have to pay it or supplement with feed. Well, feed is made with wheat and corn and soy beans. All of which have skyrocketed.
                  I understand the reason for making ethanol, but really it is what started this whole mess.
                  Very interesting!

                  Quote:
                  Originally Posted by TammyB
                  Well I live in the detroit area and both my DH and I work in the automotive field. I learned along time ago that their is no "safe"' job and just be thankful that you still have one. Several people in our sub(new sub) have already lost their homes, one is one of DH's best friends that went to our wedding.

                  We dropped down to one car, taxes keep going up but our home value keeps going down, gas prices are crazy high and of course grocery shopping is much more expensive as well. But for now we are still making it each month and just hope that we are able to continue to, to see things turn around for the better.
                  I agree, there really is no safe job. Look how many people on BDW have mentioned being recently laid off when they thought their jobs were secure. Things aren't as bad as they could be but happy days are not here again...yet

                  #39 starchild

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                    Posted 17 July 2008 - 09:35 PM

                    Quote:
                    Originally Posted by TA Maureen
                    I work from home so that has been saving a lot on gas but my daughter is in basketball camp this week that is 35 minutes away from home. I didn't want to drive her back and forth everyday because of gas prices and becasue I've been sick and car rides are no fun. It's a sin but I sent her to stay with my parents for the week because they live near the camp.
                    There is nothing wrong with that Maureen! You've got a lot going on and that's effective management IMO. Plus, she gets to spend time with her grandparents and like it or not that's what kids have to do at one time or another. DH & SIL were sent to visit his grandparents out of state for entire summers!

                    #40 cougs

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                      Posted 18 July 2008 - 05:21 PM

                      prices are crazy and i'm notoriously bad with money, but since this whole wedding business started up i'm SAVING (a pretty good chunk of my pay, i might add) for the first time in my life! my FH is starting to save as well (he's another one with the DVD buying, haha). i fully intend on keeping up the saving long after the wedding ... toward a house, car, and everything else. i'm no spring chicken anymore and i'd like to retire before i'm 90!

                      as for bad spending habits, we're like most of you who spent WAY too much on going out to eat (for me it was ordering lunch at work every day too ... really adds up!). and it costs almost $40 for a couple to go to the movies and have popcorn and drinks these days! when i was in high school that would have covered dinner AND a movie!

                      honestly i wonder where all my money went when i still lived with my parents in my early 20s? sure i didn't make that much either, but i had a phone bill & car insurance and that was pretty much it for bills ... WHERE DID ALL MY MONEY GO?




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