How worried are you? Economy related.

How worried are you?

This economy has me sooooo nervous.

Anyone else?

I am so afraid of not being able to adequately provide for Sydnie and her having to grow up deprived of certain things. I am not talking that she won't get to have a pony, or breakfast wih Cinderella. I am talking about the more basic things. I just hope things turn around really soon.

Re: How worried are you? Economy related.

I'm always worried, but I try to take each day at a time.

Re: How worried are you? Economy related.

I guess I have my head in the clouds a little bit. I'm aware of the situation but we're practical enough with our spending that I try not to stress over it - especially since it's not really in my control.
I used to worry about EVERYTHING. Now I try to worry about things only when I absolutely have to.

Re: How worried are you? Economy related.

My DH just got a new job and is doing great. I have a job as well. We are not rich whatsoever but are finally getting to a place of stability. Previously my DH worked in commercial real estate and it was feast or famine(mostly famine in the last year or so with the credit markets) He is trying to keep his contacts though so if he does get an opportunity to close something-we can have some extra money

Re: How worried are you? Economy related.

I'm worried, but not as worried as some other people. I mean, we've already been there with JT being laid off back in December, but we were so fortunate that his company found a more secure position for him. So his chances of losing his job are very slim. I'm a little concerned that I might feel an effect at my job since we are a private school and charge a high tuition, but we don't have any extra teachers that aren't necessary, so it's not like there's any fat to cut off the faculty. Plus, I'm the music teacher and one of our pluses right now is that while the public schools will start cutting things like music and art, we never will, so we actually have seen an increase in interest in our school for next year. We bought a house back in April of 08, so I feel good about that, too. All in all, I can worry, or I can just know that no matter what, I will do whatever I have to to make sure Ava doesn't feel the effect of the economy. If JT and I have to, that's fine, but she won't and I'll make sure of that no matter what.

Re: How worried are you? Economy related.

For us, personally, I'm not too worried. We have 3 jobs between the two of us, so even if one falls through, we can always pay our bills on the other 2 jobs, and even if something worse happened, we have enough in savings we would be ok.

But I am worried about my friends and family, and my suspicion is that it's going to take some time, several years at least, for the market to correct itself, and that it will get worse, much worse, before it gets better. History has taught us that this is the economic life cycle...

Re: How worried are you? Economy related.

im not worried...

Re: How worried are you? Economy related.

Interesting perspectives.

I agree not to worry about things we cannot control. Single handedly we can do NOTHING about the nation's economic standing and I have no problems having made sacrifices (we started that lifestyle when we started saving for the wedding) but it worries me because my DH cannot find another job. He has his own very slow business but he's been looking for a "job" for months now.

Message edited 3/2/2009 1:59:52 PM.

Re: How worried are you? Economy related.

well to extend on my take... We have no debt except mortgage, w ehave savings in the bank, and my hubbys job(knock on wood) is pretty secure, plus worrying wont help each other, im also just not a worryer, i try to find the positives in everything, its my personality...but w ehave cut back just so we can build up our savings some more...

Re: How worried are you? Economy related.

Im in the Insurance Industry; hubby works in Finanical planning.

I guess Im not super worried. The economy doesnt bother me as much as my company doing lay offs for an entirely different reason.

Given the economy I'd just move back to Texas and move in with family.

In the end, I figure the first 5yrs with AJ will be tough no matter where I am or what I'm doing. So after three years, watch me worry.

My daughter already has more than I ever did, hands down. This is all bonus in my mind. Any less will be ok.. and she'll never be as bad off as we were once. Since I've been in poverty before, it takes a lot to 'worry' me.

I paid off my debt in anticipation of this time, but i have some debt still. I dont have money in savings. I dont have family to help. I have no family near and no one who can finanically support us. My options for assitance are little to none, but I *WILL* find a way.

Youd be surprised how thrifty you can be if you have to be.

Re: How worried are you? Economy related.

Re: How worried are you? Economy related.

Posted by SweetCaroline

I guess I have my head in the clouds a little bit. I'm aware of the situation but we're practical enough with our spending that I try not to stress over it - especially since it's not really in my control.
I used to worry about EVERYTHING. Now I try to worry about things only when I absolutely have to.

Re: How worried are you? Economy related.

Honestly, I'm not that worried. I did lose my job in the fall, but I was lucky to find another very quickly.

My DH's job is very secure (city job and he carries our benefits) and we don't make millions, but DS wants for nothing and we pay our bills, so that's what matters to me.

Re: How worried are you? Economy related.

We definitely worry. My DH is a landscaper so we wonder if people are going to cut back on lawns, maybe go to every other week vs. every week. They most likely won't do the extra's like plantings and mulch.

My photo income helps pay some bills but of course I worry as well. I do cover the kids school and other small bills so I don't have to ask him for money/go into our savings. But if I have a bad month then so be it - nothing I can do.

Our parents used to help with clothes and other things but they're suffering as well so we're feeling it.

Its tough especially when you have 2 self employed people. Our medical is such a huge bill that if we were able to get rid of that we'd both be able to breathe much easier. Of course we just got an increase on our lousy coverage so that didn't help.

Its awful knowing that we all have to ride this out and hope for the best.

Re: How worried are you? Economy related.

I'm very worried, but I try to calm DH down bc he has always been the worrier out of the two of us...I was laid off at 8.5 mos pregnant, and DH would prefer it for me to be a SAHM, I on the other hand would loooove to work, from the home or something part time, it's just the way I am by nature, but I'm putting that on hold right now and taking it day by day...DH works in the financial industry so suffice it say he is on pins and needles everyday about his job...thank g-d DH is the ultimate saver and if g-d forbid something were to happen and he was laid off we have funds to live off of for a while!!!!!!! But I still worry every day!!!

Re: How worried are you? Economy related.

i am not worried. DH will never get laid off. if i happen to get laid off (which is highly unlikely) we have money put aside until i can find another job or we will move out of NY.

we are lucky because we have savings and are getting a large tax return to add to that. we want to buy a house, but we'll know whether or not i am getting paid off before that.

Re: How worried are you? Economy related.

I do worry to some extent. It's hard not to because I work in finance and it's literally in my face every minute of the day.

We've had 2 rounds of layoffs in my company already and have reduced staff by 70% with the possibility of more coming soon.

My friends and family in the industry have all been getting laid off one by one in the past few months and it's really scary. Many just got married, bought home, had babies, etc.

That being said, DH and I have done a pretty good job of saving and hopefully his job is a little more stable.

I don't worry about the essentials. I think we'll manage but I am worried about the economic climate as a whole.

Re: How worried are you? Economy related.

Not worried about us in particular but worried about EVERYONE on the whole.

I teach college economics and have been privy to a lot of information about the economy that in all honesty the media is completely downplaying.

W/o getting into an economic lesson the current situation that we are in is worse than anything we have seen since the Great Depression.

The only reason why it doesn't seem as bad right now is that our government has borrowed from our future in order to keep us afloat right now. Add this crisis to the bill from the war and we have borrowed money from our grandchildren

As of today, the markets have lost all of the gains from the last 12 years. Anyone who wants/needs to retire in the next 15 years most likely will not see that bounce back. To make it worse, most of the baby boomers didn't have enough saved, before this bust. I'll be honest, Dh and I might not see our retirement bounce back.

Forget about Social Security for so many of the baby boomers, it will not be available in its present form. Many of them will be forced to living with their sons and daughters. It will NEVER be available for us.

Even with the government's bail out their is a loss of available liquid capital. Interest rates on c.c. are WAY up. This also affects business. Everyone has become so used to living a mortgaged lifestyle, (leases, c.c. debt, etc.) and so have many businesses. W/o the availability of the capital, some have been forced to close their doors whereas, a few years ago another company may have bought them, kept the doors open and the jobs available.

It's very bad.
I hear it from my family members who work in the market. I read it in my daily e-mails from the prof. I work with. I've seen the graphs.

Most analysts say, if we are lucky we will hit rock bottom this summer. Others, say in a year or two.

Really, no industry is safe. Unions are furlouging more and more and for longer and longer periods.

While it's not good for the economy on the whole, most financial experts say save all you can, stockpile your emergency fund, unfortunately, so many will need it.

Message edited 3/2/2009 2:20:42 PM.

Re: How worried are you? Economy related.

Posted by Tah-wee-ZAH

Not worried about us in particular but worried about EVERYONE on the whole.

I teach college economics and have been privy to a lot of information about the economy that in all honesty the media is completely downplaying.

W/o getting into an economic lesson the current situation that we are in is worse than anything we have seen since the Great Depression.

The only reason why it doesn't seem as bad right now is that our government has borrowed from our future in order to keep us afloat right now. Add this crisis to the bill from the war and we have borrowed money from our grandchildren

As of today, the markets have lost all of the gains from the last 12 years. Anyone who wants/needs to retire in the next 15 years most likely will not see that bounce back. To make it worse, most of the baby boomers didn't have enough saved, before this bust. I'll be honest, Dh and I might not see our retirement bounce back.

Forget about Social Security for so many of the baby boomers, it will not be available in its present form. Many of them will be forced to living with their sons and daughters. It will NEVER be available for us.

Even with the government's bail out their is a loss of available liquid capital. Interest rates on c.c. are WAY up. This also affects business. Everyone has become so used to living a mortgaged lifestyle, (leases, c.c. debt, etc.) and so have many businesses. W/o the availability of the capital, some have been forced to close their doors whereas, a few years ago another company may have bought them, kept the doors open and the jobs available.

It's very bad.
I hear it from my family members who work in the market. I read it in my daily e-mails from the prof. I work with. I've seen the graphs.

Most analysts say, if we are lucky we will hit rock bottom this summer. Others, say in a year or two.

Really, no industry is safe. Unions are furlouging more and more and for longer and longer periods.

While it's not good for the economy on the whole, most financial experts say save all you can, stockpile your emergency fund, unfortunately, so many will need it.

Re: How worried are you? Economy related.

I worry. My DH owns his own business and while it is (knock on wood) still doing well, he has a lot on his shoulders. I am still a SAHM (only working 10 hours per week for DH) and trying to do so until DD goes to kindergarten. I am nervous that I will have to go back to work and put DD in daycare. Not that it would be a bad thing, she is 2 1/2 and starting preschool in the fall. Plus this economy and my having to work is 75% of the reason we are not having any more children - for now. And now, we just found out our health insurance is going up another $300 per month

Re: How worried are you? Economy related.

I plan on leaving my job to be a SAHM within the next couple weeks. but with everything going on, I'm afraid to leave my position. we have a large amount of savings, but If my DH loses his job, it would be tough. not sure what to do at this point

Re: How worried are you? Economy related.

I'm not worried about us, because we have been banking my entire salary and DH's bonuses for years now. We have enough in savings to live off of for 6 years the same way we are living now if we both were to lose our jobs.
But I am worried for a lot of people I know.

Re: How worried are you? Economy related.

Posted by Tah-wee-ZAH

Not worried about us in particular but worried about EVERYONE on the whole.

I teach college economics and have been privy to a lot of information about the economy that in all honesty the media is completely downplaying.

W/o getting into an economic lesson the current situation that we are in is worse than anything we have seen since the Great Depression.

The only reason why it doesn't seem as bad right now is that our government has borrowed from our future in order to keep us afloat right now. Add this crisis to the bill from the war and we have borrowed money from our grandchildren

As of today, the markets have lost all of the gains from the last 12 years. Anyone who wants/needs to retire in the next 15 years most likely will not see that bounce back. To make it worse, most of the baby boomers didn't have enough saved, before this bust. I'll be honest, Dh and I might not see our retirement bounce back.

Forget about Social Security for so many of the baby boomers, it will not be available in its present form. Many of them will be forced to living with their sons and daughters. It will NEVER be available for us.

Even with the government's bail out their is a loss of available liquid capital. Interest rates on c.c. are WAY up. This also affects business. Everyone has become so used to living a mortgaged lifestyle, (leases, c.c. debt, etc.) and so have many businesses. W/o the availability of the capital, some have been forced to close their doors whereas, a few years ago another company may have bought them, kept the doors open and the jobs available.

It's very bad.
I hear it from my family members who work in the market. I read it in my daily e-mails from the prof. I work with. I've seen the graphs.

Most analysts say, if we are lucky we will hit rock bottom this summer. Others, say in a year or two.

Really, no industry is safe. Unions are furlouging more and more and for longer and longer periods.

While it's not good for the economy on the whole, most financial experts say save all you can, stockpile your emergency fund, unfortunately, so many will need it.

Re: How worried are you? Economy related.

I worry. DH is in retail. Though his company is doing very well it could all be over if people stop spending.

My job is secure because I am a teacher but I don't get paid nearly enough to keep us afloat if he ever lost his job. Sometimes I just want to pack up and leave NY (not that it is really better anywhere else). I feel like we shouldn't have bought our house even though we can afford it...it is still a huge mortgage.

I want to start trying for another baby and DH is hesitant right now because financially he doesn't know what the future holds for us.

So yes I worry.....almost everyday.

Re: How worried are you? Economy related.