Personal economies

[Lowdown3]

So we are what six years or more into the economy going in the toilet.

Are things getting any better in your particular industry?

How are you coping now compared to a few years ago?

How about your spending/saving and debt habits? Did you make any changes years ago? Have you stuck with them? Anyone get debt free during this time period?

Personally I can't help but feel we have at least another 2-3 years of this stagnation.

[rockriver]

great thread.

1. i retired during this time span.
my industry is getting in trouble. the storm in ok will be a huge blow... the tv says 4 billion in dmg... i think it will be much worse for the insurance industry, assuming folks in ok buy inurance.
if there is a small local insurance company that was active in the stricken areas, i expect to see them go out of business.

2. we have cut our expenses. fixed incomes now. doing things (gardening, fruit trees, insulating, fuel savings) that will hold down our future expenses. inflation is a major concern, assuming the shtf doesn't occur. we moved, and developing new contacts and associates in our new area.

3. i think all of us should be striving to get debt free. there is a saying "owe no man" that comes to mind. and "neither a debtor nor a lender be." i've had a break in relations because of forgetting the second.

4.. i don't see the things happening that need to be happening for there to be a recovery in 2-3 years.

[Rmplstlskn]

The University has raised their tuitions (but have millions in endowments) and the students parents are paying it... Many full-time, benefited positions are now wage part-time positions with no benefits. Since .edu, .gov and .mil are the only serious employers in my area, they have everyone by the shorthairs. More people than one would think milk the system, riding the security of a "government" job. So things are ripe for an economic catastrophe...

IT has been farmed out overseas for over a decade now, so only those with "in need" specialization and/or "security clearances" are thriving.

My plans revolve around another 3~4 years of stable income and somewhat stable economy and selling home after that for cheaper places to live. If I have more years, all the better. If less, my plans won't mean diddly squat anyways...

I walk a balanced line between debt and freedom as I personally like some of the things other peoples money loaned to me at low to 0%APR get me. Basically, I am enjoying as much of life now as possible before the hurt comes home to roost GLOBALLY or I get too old to enjoy it...

[rockriver]

by rmpl....above^
. Basically, I am enjoying as much of life now as possible before the hurt comes home to roost GLOBALLY or I get too old to enjoy it...[/QUOTE]


this is a great, clearly worded, simply stated, honest description of america's general stand.
the governments.
the welfare folks.
the workers... the majority...

i have a great friend and many others also who believe that americans are 2 paychecks from losing their car/house and 2 months from bankruptcy... i think they are right.

if there is a collapse of the financial system... and i know xxx has been living high on other peoples money, and i haven't been following that practice, how should that effect my efforts to help xxx? hmm.
that's probably a question for another thread.

hmm. that is probably a

[Irish-Tech]

I actually have the best job and highest pay I have ever had. And just in the past year my wife has been able to quit so she can be a stay at home mom.

The oil industry is doing fine, and I don't see a slow down. Looks like no matter what Oevil does it keeps going.

All debt is paid off and we never plan on going into debt again. That is one of the reasons my wife could quit.

[610Alpha]

Not all IT jobs are overseas. I am changing companies right now and I work in IT in Illinois in the Private sector even. I don't have a special security clearance either.

We are still working on our debt and have freed up cash flow to put towards our student loans. The Wife has been at home with the kids for about 2 years now which has slowed down the debt snowball but we are not going further in debt. Cars a paid for.

My income has increased due to promotions and pay raises. 2009 & 2010 were flat for income for me personally.

[Matt In Oklahoma]

So we are what six years or more into the economy going in the toilet.

Are things getting any better in your particular industry?
Better, depends on how you look at it. I'm in no danger of not having work because of crime

How are you coping now compared to a few years ago?
day by day

How about your spending/saving and debt habits? spending is decreasing for sure even in areas of need
Did you make any changes years ago? yep but not fast enough
Have you stuck with them? with no choices otherwise
Anyone get debt free during this time period? not a chance but i didn't get in anymore either

Personally I can't help but feel we have at least another 2-3 years of this stagnation.

We have a long way to go

[Rmplstlskn]

by rmpl....above^
. Basically, I am enjoying as much of life now as possible before the hurt comes home to roost GLOBALLY or I get too old to enjoy it...

this is a great, clearly worded, simply stated, honest description of america's general stand.
the governments.[/QUOTE]

I disagree somewhat... Most of those living like above have no clue and are not expecting in any way an economic collapse... They think it will keep going with just some dips and hills along the way. They have zero preps, no skills outside of their work skills, and no knowledge of making do... They will be on FEMA lines and Red Cross lines...

Me personally, my TEOTWAWKI is from my "Hebrew Roots" religious beliefs... When it all goes down, it is not an event we will work ourselves out of like those in survivalist novels, it is game over. Times up, the 7th Millennium is at hand and Messiah will reign with an iron scepter from Jerusalem. Having a remote homestead will only benefit for a short time. Crops will not grow eventually, so a garden will be abandoned. It will be unlike any time in the history of man or the world... Chances are, most of us will die before the last trump blows... So have a little fun while you can...

[Benn Gleck]

MAN! I hope we have 6 years before the crapper. I need at least 2.

I'm retired/disabled but the work I was involved with is down due the collapse of the housing bubble.

I'm doing a little better compared to a few years ago, getting better every day.

I'm not debt free but making progress. It is tough having a home AND a BOL seems like you need two of almost everything. But thats a good problem to have I suppose.

Sometimes I have to stop and smell the roses and I thank the Lord for all that I have.


Daily trying to find a balance between prepping and enjoying my short time left.

[WiseOwl]

My industry is strong right now. Companies are buying truck equipment like crazy. I make decent money but could probably make more with my knowledge and skills.
It's enough to make it with a little left over to eat out once a week and eat out lunch on Fridays.

We just bought our dream homestead and it cleared out the bank but I am rich with resources.

My wife is a stay at home mom homeschooling even though she has a degree
She ebays for extra dough

Got enough projects on the property to keep my mind from buying needless junk.
Clearing for garden and orchard will take all summer if done by hand which I will do because I can't afford to rent a bobcat.

No toys, no gadgets. Everything has been acquired through barter.

I live in peace. I don't worry About collapses or the world.
My world is my world. I just have to keep it together


If something bad happens, hopefully my preparations will keep us safe. If not and we perish, we have a nice place to go.

[jimmycthemd]

The bad news; I got laid off a little over a year ago.
The good news: I had enough notice where I walked out of that job on a Friday and started this one the next Monday...no gap in income.

The good news; Reduced debt by paying off a vehicle (two cars paid off).
The bad news; I still have other debts to pay off (about 3 years to only house payments)...but am making progress. Made a couple bad decisions about 5 years ago.

The good news; Only 4 more years and my house will be paid off (wooohooo!!!). At that point, I'll only have taxes, insurance, utilities and food.

The bad news; The company I'm working for now is starting to show some signs of financial weakness. Not extreme, but you can tell a lot by the little things. Hope it holds together.

The better news; Don't plan on any more debt so, if everything holds together, in 4 years I'll be completely debt free.

[SeldomSeenSlim]

I live in peace. I don't worry About collapses or the world.
My world is my world. I just have to keep it together

Very well stated.