Re: How worried are you? Economy related.

I agree with Tah-wee-ZAH - while we are fortunate to have a good amount in savings and our only debt is our mortgage we still are concerned about the future. We built up our 401(k)s and watch them dwindle to nothing like so many people...and what concerns me is not the now but the later. I agree - there is concern about what the future holds.

I do think it will take years for things to start looking up...this situation was years in the making and it doesn't correct so quickly. We will see more companies fold, more layoffs, more cutbacks.


DH and I have cutback in anticipation - not out of necessity at this point. We both agree that the sooner we can come to terms with sacrifices the better off we'll be because in the end...no one's job is guaranteed and no one's financial situation is promised to be steady.


For now we put the necessities first and the wants second and I will say we spend more time considering the validity of those wants.

Re: How worried are you? Economy related.

I worry a bit, but overall, I do not. We have a lot of worries that are more immediate at the moment, and there isn't much I can do about the economy. So if DH loses his job, I will worry then, but since he is working now and we have a fair amount saved, I don't worry a lot.

It's not that I'm unrealistic and don't think anything bad could happen to us, but worrying won't stop it, and I figure I should enjoy our life now as much as we possibly can.

Re: How worried are you? Economy related.

We are both in the financials so it's a possibility that one or both of us could get let go so we do worry.

I try to focus on the positives: We have both been with the firm for a very long time so we would get a decent severance package and unemployment, we have a pretty decent sized savings account and not too much debt outside of our mortgage.

We could manage our mortgage on one salary if needed and if we both got let go and couldn't find other positions to replace the income, we could sell our house and move into my mother's vacant town house (in the same neighborhood) to wait out the economy with lower paying jobs if needed.

All in all, it's not nice to think about but we are fortunate in that we have plans and alternative if the sh!t hits the fan.

Message edited 3/2/2009 2:55:48 PM.

Re: How worried are you? Economy related.

Its very easy to worry. DH and I are trying to live below our means and add more to savings

Re: How worried are you? Economy related.

I am worried at a macro level..the country's economy if very important to our families and our children. Big cuts in public schools worry me A LOT. It does not matter how great our jobs are if Molly's school does not offer her a solid education.
Of course I worry that things can get really bad for not only us but people we love. If neighbors start losing homes that hurts my own home value as well.
IF Scott or I lost his job it would not be a good time for us but we will just have to figure it out and make things work. for now, we are both okay.

Re: How worried are you? Economy related.

Yes I am worried...not so much for my job and DH's job since right now Thank God we are fine...I'm worried about the future....what this entire crisis is going to do for our kids. DH and I don't have a big mortgage or alot of bills...we operate on a cash basis only.

I don't think we have hit rock bottom either and that scares the crap out of me. The stock market took a huge dive today and it made me

All we can do is be wise with our money and pray

Re: How worried are you? Economy related.

I am worried about the future. I don't think either DH or I will be laid off. We have a good amount of money in savings and have definitely curtailed our spending. I want to have as much money as possible for DS. I could care less if I have new stuff as long as DS Is taken care of.

I was going to look for a p/t job so I could be home with DS more but in this economy, I don't think it's a wise choice for me. It makes me sad but it's the reality.

Re: How worried are you? Economy related.

Our kids already have more than we did growing up. We chose to get back to basics a few years ago....we felt the kids wanted for too much..when truth was they wanted for nothing.

Fortunitely my DH's job is about as secure & stable as they come.

Im more concerned for my friends whose jobs arent as secure and/or is their salary etc...

Re: How worried are you? Economy related.

I worry. DH is self-employed and hasn't really taken a check in since before the holidays. He is on some big jobs and the money will come in, but not for a bit longer.......

I also wrote a thread about this the other day.........I just went back 2 weeks ago from maternity leave and was given a "talking to" about what I need to do to keep my job since I don't currently have a full-caseload since going back.

I already feel like the things they are asking me to do exceed my responsibilities. But as we all know, with the way the economy is, I really don't have a lot of "choice" in the matter.

I would like to think though with my background and experience, I could be hired elsewhere pretty easily if I were to get laid off.

We'd just have to cut back a lot more probably but that's no biggy.

Re: How worried are you? Economy related.

Currently, I am not too worried. DH is a cop and his job is safe.

For the future, I am a little more concerned but am not thinking too much about it now. DH and I have watched his retirement go down dramatically, but so has everyone else's. Luckily we are young enough and have many years ahead of us to build it back up before we have to retire.

Re: How worried are you? Economy related.

I am.. but my only option is to take it one day at a time.

Re: How worried are you? Economy related.

I'm not worried.

NOBODY is indispensable, but I know that things will always work out for us.

Re: How worried are you? Economy related.

Posted by jacquig



I don't think we have hit rock bottom either and that scares the crap out of me. The stock market took a huge dive today and it made me

All we can do is be wise with our money and pray

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.



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.

Re: How worried are you? Economy related.

Re: How worried are you? Economy related.

Terrified, but I try not to think about itto the point of worrying or I will have an anxiety attack.

Re: How worried are you? Economy related.

Re: How worried are you? Economy related.

We have 3 jobs between us and when I tutor we have 4.....I am not worried. We stockpiled our $$, both DH and I are big savers and have enough to live for years God Forbid we both lost our jobs. DH's job is very secure so I am not worried and Kerri really wants for nothing. We have a mortgage that we could afford on one salary and have no debt other then that.

I don't like whats happening to our retirement and college fund but thankfully we won't need either of those for quite a number of years so hopefully the market will be different then.

Re: How worried are you? Economy related.

I'm a little nervous...
DH lost his job in December- although he's already had a few interviews, he hasn't had any offers yet.
I know he's very marketable, so he should get something soon...
we do have some money saved- but not enough to get by for years on end.

Re: How worried are you? Economy related.

i am concerned but not worried.

my job is pretty secure. DH's is too, but not like mine. we have savings that would get us through almost a year.

if i were a SAHM, i'd be panicking. but since i went back to work, i'm not worried at all.

Re: How worried are you? Economy related.

I do worry, at this point we will be ok with 1 kid, but may not end up having a second

Re: How worried are you? Economy related.

I'm not really that worried, but we both have fairly stable jobs and we aren't in the private sector. It stinks that my son's college fund lost money and that sort of thing, but I think in the long run we will be ok. I'm not really a worrier, though.

Re: How worried are you? Economy related.

Posted by mikeswife06

Posted by julz33

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.

That is incredible and wonderful! Good job!!!!!!

Re: How worried are you? Economy related.

Re: How worried are you? Economy related.

OMG i have found so many simple ways to save money and still have tons of fun!