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The economy and what I need to give up..


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#11 yamille

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    Posted 07 October 2008 - 09:59 AM

    Quote:
    Originally Posted by gossip girl
    I guess I am of the opposite mindset. Don't get me wrong I think it is fantastic that you are all working hard and cutting back. I think whatever plan you choose, it needs to make you feel better and secure. That is the most important thing.

    I feel that if everyone cuts back, ie) not sending laundry out, not eating out, not buying things, then the economy shrinks. If you stop sending your laundry out, and everyone in your neighbourhood does as well, then that drycleaners goes out of business. And then they can't support their families. If I don't buy any shoes this year, and enter shoe rehab like everyone else, then salespeople will lose their jobs because they are not needed. If I stop travelling, taking taxis, etc, then more people could lose their jobs! I know I am exaggerating, but it is just how I feel. (Or how I am justifying spending most likely). But then more and more people will sell their investments to make ends meet perhaps. And the market will continue to decline. My job is 100% secure, so I guess that is why I feel this way. If I was more concerned about the even remote possibility of being out of work for awhile, I would definitely cut back.

    I did increase my monthly savings going direct into my savings account like most of you...If it is out of my checking account, then I won't spend it!!! But I don't plan to cut back really.

    I guess I will single handedly stimulate the economy! One pair of shoes at a time. Hopefully my FI never reads this! He is a saver!
    I totally hear you on this point as well. I just know that even when I attempt to save I am still stimulating the economy. I think my anxiety comes from the fact that I am in grad school and come next June (a month after the wedding) I will be looking for a job, finishing my thesis, moving, and come off of wedding/HM expenses. I feel like all the pressure is on FI so whatever I can do to help I guess.

    This is also coming from someone who's FI works for a hedge fund and my p/t bartending gig is in the financial district- so I literally hear the drama from all the Wall St. guys. It's quite deperessing and I am glad that I only do it 1 or 2x's a week. As for FI- he's trying to educate me about it I guess- because I will admit I have not done anything to secure my financial future in the past.

    #12 *Lo*

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      Posted 07 October 2008 - 10:10 AM

      Ya you are kind of right in the center of it Yamille! My FI is in grad school as well and so it is a bit tougher than previous years. He also found out he won't receive his loan money next year...because he is an international student, and he would need a US citizen to co-sign!! Outrageous!! I guess worst case scenerio is he has to get a loan up here in Canada, but he will lose out with the currency exchange. Hopefully he will get by without the loan next year, it is more just as a cushion.

      When I was just coming out of school, I did not even think about my future or saving. It actually took until I met my FI and his saving methodology I guess somewhat wore off on me so I opened a savings account! I could probably learn from everyone on some ways where I can cut back but not really impact my life much!

      #13 *Casey*

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        Posted 07 October 2008 - 10:28 AM

        Yall are giving me some really great ideas! Thanks!

        #14 DallasAshli

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          Posted 07 October 2008 - 10:33 AM

          I cancelled my gym membership yesterday! I never went but it was only $25 a month so I didn't think it was a big deal. I did pull out those dusty workout videos (actually dvds) - does anyone remember Yoga Booty Ballet or Windsor Pilates? Some still had the shrink-wrap on them! I've actually used them 2 days in a row.

          The DVD player in our bedroom starting skipping this weekend and rather than go buying a new one (which we would have done 2 months ago), we "borrowed" the one from the living room. This was a big sign for me - we are now ok with a little inconvenience in order to not go spend unnecessarily.

          We are also saving for a home in the next 2 years. That way, we can help stimulate the housing market :)

          And we are asking all our friends to buy airfare to our wedding... does that count as helping the airlines? Haha.

          #15 Christy335

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            Posted 07 October 2008 - 10:52 AM

            Quote:
            Originally Posted by DallasAshli
            does anyone remember Yoga Booty Ballet or Windsor Pilates?

            Ha! The Windsor Pilates DVD is one of the old ones I busted out! I hate Dabney though... She's the one who does all the modified excercises that look so easy. She gets by with an easy workout and I'm trying to keep up with the red head girl who can get her legs in positions that I haven't been able to do since I was 5 years old!

            #16 Jenn

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              Posted 07 October 2008 - 11:21 AM

              We bought our house 6 months ago and were doing a ton of renovations, but my DH lost his job 3 months ago, so we've really gone on financial lockdown. With the economy crashing, it is an absolute crap time to be looking for a job - in any industry. DH was not financial, but he's just not getting any luck. So, we've almost completely stopped eating out/ordering in, we've stopped shopping for clothes/shoes unless its something we really need, and during the summer we turned the AC way down to try and save a little on our energy bill. There are probably a million other little things we've stopped buying, but thoe are the biggies. We've seriously become cost-conscious about everything.

              We had a pretty good cushion, and I make good money, but we bought our house with 2 incomes, so going down to mine (which luckily was always the larger one) is hard. And unfortunately, we have no end in sight. We've started discusssing schools for him and reinventing the wheel.

              Good luck to everyone with their cost-cutting :)

              #17 anita

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                Posted 07 October 2008 - 12:05 PM

                We were going to have a 200+ wedding at home, but it was going to be a lot of $ and we both started to get overwhelmed, especially with the way the economy is. That is why we decided to cancel everything and do a DW our guest list is going to be about 60 people (our familys are big) and trying to be as economical as possible.

                After reading this thread though, I am definitely going to cut back on some expenses that I dont need. IE the tanning membership I have every month that I never use.

                #18 NJ_bride

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                  Posted 07 October 2008 - 02:50 PM

                  Good thread!
                  We have cut back on eating out, down to bagels and coffee out on Sundays before grocery shopping.
                  As far as groceries we cut our bill in half, I love to cook so I have been planning my menus around what is on sale.
                  We consolidate driving as much as possible to save gas.
                  No AC or heat in the last month are bill will be really small.
                  No shopping for "fun" stuff, clothes, house stuff, ect.

                  P.S. Christy-I am in LOVE with your dog! Siberian Huskies are my absolute favorite, I want one so bad!!!


                  #19 DanielleNDerek

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                    Posted 07 October 2008 - 04:33 PM

                    I'm going through this thread with a fine tooth comb to see what i can cut back on. I've been a nervous wreck about our finances lately. At least now i know i'm not the only one that has to cut back.
                    ***Married November 6, 2008***Gavin Born February 28th, 2010***
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                    #20 ~Melissa~

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                    Posted 07 October 2008 - 05:05 PM

                    Great ideas here. All you girls are doing well and I wish you all the best of luck given the crappy circumstances with the economy.




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