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<p>Investments lost value; job security lower.</p>
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<p>Follow economic news every day.</p>
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<p>Very little. We have taken advantage of deals offered by consumer-facing companies. When the economy improves, we assume those deals will not be there.</p>
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<p>Reduced the price level of goods/services/foreign currencies we would spend money on anyway.</p>
<p>Made just about everyone else less rich- makes it easier to win the rat race.</p>
<p>Lower income last year because we didn’t make budget. Pay cut this year. Will have another pay cut next year. I went from never worrying about money to having it on my mind a lot. Had to finance a car, when I’ve paid cash for every car since 1992. </p>
<p>My clients (real estate developers, landlords, tenants) are hurting. It’s terrifying and inspiring and exciting and stress inducing to watch them juggle all the balls…will they survive or or not? </p>
<p>I used to think I’d retire at 60…then 65…now I’m thinking what would I do all day anyway and I may just keep working till they stop paying me.</p>
<p>I haven’t read everything but I’ll chime in.</p>
<p>I became unemployed when my company relocated. The economy is clearing affecting me: There are very few appropriate jobs in my geographic area. Consequently, for the first time in our lives, I’ll consider relocating. Although I’m worried about what price our house might bring these days.</p>
<p>For the first time ever, we are applying for financial aid, for S2. </p>
<p>We have ceased virtually all discretionary spending. We cut back on premium cable. We tried to stop the garbage pick-up (we pay for it in our town) but the company cut our cost in half, so we continued with it. We have put on hold the possibility of re-doing the bathrooms. We’ve stopped driving our one car that requires premium gas. We decided not to visit old friends in Maine because the gas alone would have cost us ~$500. We no longer have Chinese take-out once a week. When we do have it, we just order one dish plus fried rice, and share it. We’ve set the air conditioner at 72 degrees, and only run it when it’s very humid. (During the winter, we kept the house at 66 degrees.) We no longer go to the movies; we just rent them (for free) from the library. When I meet someone for lunch at the diner, I only drink water, not soda. I’m hoping that, once I get a job, I’ll be able to work until I’m 70 to get back all we’ve lost.</p>
<p>I like whoever suggested, many posts ago, the possibility of babysitting on Saturday nights. That seems relatively painless, since all I do is watch junk on TV anyway!!</p>
<p>“I’m hoping that, once I get a job, I’ll be able to work until I’m 70 to get back all we’ve lost.”</p>
<p>And when you come to the end of your lifespan, what are you going to do with that money you got “back?”</p>
<p>Hmmm… I look out out my front door and see a foreclosed house across the street from me…overgrown hayfield where a perfectly manicured lawn once was</p>
<p>I fear for the future of my children facing a difficult job market.</p>
<p>My husband works between 12 to 20 hours a day to keep our business operating and in the black…no day off whatsoever.</p>
<p>I work 6 days a week for the same reason as my husband, with one day off to manage my household …not exactly a relaxing way to spend a day off…</p>
<p>I overpay my gas bill now in order to accumulate a significant credit to save for the cold months. We used to eat bagels at work in the morning , since we leave so early…haven’t bought any food at work at all , but this is a good thing. </p>
<p>Hoarded a stash of cash for winter…I always do, but this year it is more.</p>
<p>MAde all of the food for a recent gathering, when it would have been a LOT easier to go with the usual plan of ordering it from a local caterer…a lot to do when working the hours I do.</p>
<p>We all have tightened our belts, but it began last fall…we learned to live with less , due to the uncertain economy and I will not return to any former extravagance I may have taken for granted in the past.</p>
<p>We moved from a very expensive area to one with a 25% cut in SOL costs. I’ve all but stopped shopping for myself (not that I’ve ever been a clotheshorse.) No more impulsive sprees…not even the nail salon. We’re keeping the car another couple of years (usually the dh unloads it after 75,000) and we are driving less. We won’t be hiring anyone to clean (we had someone in the old place) and we’re not going to be traveling this year. </p>
<p>Unfortunately, when we (global we) cut back, it becomes a spiraling thing. If we don’t buy a new car, the car-salesman doesn’t make a commission. The salesman has to stop discretionary spending so the coffee shop down the street goes out, which means the cup manufacturer has to let people go, so their community had problems and so on, etc.</p>
<p>edad, re Post # 24: My genes and my current health suggest I’ll have no problem living until I’m 100, and being quite spry during the bulk of those years. Besides, haven’t you heard, 70 is the new 50. </p>
<p>Seriously, it is important to me to leave some real moola to my children. My parents did it for me and I hope to be able to do it for them.</p>
<p>veryhappy
Water is good for both your pocketbook and your health! I gave up soda a couple of years ago…would never turn back.
Good luck with the job hunt…I have many dear friends in the same position as you.</p>
<p><<we’ve set=“” the=“” air=“” conditioner=“” at=“” 72=“” degrees=“”>></we’ve></p>
<p>my thermostat in summer has never been below 78 degrees and in winter is 64 (hoping that new HVAC will allow me to raise that to 68 w/o too much of increase in costs)</p>
<p>I have enjoyed watching the rest of world learn to live like I have for the past 30 years.</p>
<p>NEVER once had a manicure, pedicure, massage, NEVER order takeout or eat fast food. Only restaurants ever visited are a chinese buffet and a diner where 2 can eat for $20. And even that is maybe 3x a YEAR. No coffee shops in my life. I’ve always been the economy’s worst nightmare. I have never bought anything I didn’t NEED. This started out due to necessity and as my income grew I didn’t change a thing. I never bought into the idea that as your income increases, your spending does too. Nope. I just banked the extra money.</p>
<p>I lived thru my dad getting laid off multiple times in the 70’s (he was an electrical engineer). Seeing him struggle taught me to live below your means at all times and never assume the next paycheck exists. </p>
<p>I lived thru a layoff in 1989 (2 weeks after birth of my son). Went back to work making 1/3 of previous salary. After you live thru that, you learn to live with less and you tend to not ramp up your lifestyle when the money comes back (took me 8 years to get back to 1989 level income). </p>
<p>If my salary doubled tomorrow, my lifestyle wouldn’t change.</p>
<p>sueinphilly: For most folks, I think it really makes sense to live beneath ones means.
And to save for a rainy day. But I don’t think extreme frugality is necessary for everyone (at least not in the long term) nor should it be viewed as a badge of honor. </p>
<p>I LIKE getting a manicure once in a blue moon and my girlfriends and I treat it as a fun social event. Going out to dinner for a special occasion is a treat…nothing extravagant…but a nice way to try foods I would never prepare at home. Nothing wrong with it. </p>
<p>My lifestyle, overall, is still very frugal. Old cars, meals at home, REALLY old clothes. Starbucks seems like a total waste to me. But I like a treat once in a while…and sometimes those treats cost a few dollars. It can be hard to find the right balance…but bottom line…LIFE IS SHORT!</p>
<p>We are a mix of frugal and not. We don’t have a thermostat - we have two through the wall A/Cs and a couple of window A/Cs and turn them on for a couple of hours when it gets really hot. But it’s generally around 80 in our house the summer. We don’t have cable. I’ve only had a manicure and pedicure once (gift certificate) and a handful of massages (when prescribed by a German doctor). We don’t have cable, our house is modest. I hate buying clothes and mostly don’t have to buy anything fancy. We drive our cars into the ground.</p>
<p>However we own a lot of computers, we buy DVDs of old TV shows, we splurge for birthdays and anniversaries at pretty upscale restaurants. You don’t even want to know what we spent for a three star restaurant when we were in Germany this summer! But it was an unforgettable experience. In fact, S2 commented he couldn’t believe how we spent money on the whole trip. We figured it had been 6 years since we had an overseas vacation.</p>
<p>We have also always tried to live below our means. Luckily, we have no debt. Our primary residence and small lake house were paid off years ago. Our cars and our children’s cars are paid off. Other than day to day living expenses, our only large expense is our younger D’s private college education. When housing goes up, we figure we can sell the lake house, if need be.</p>
<p>Our savings/retirement accounts were down 30%. Husband is 60 and the primary wage earner so he will most likely work longer than expected. Luckily he likes his job. With our investment accounts down, we hated to withdraw money we had saved to pay younger D’s college expenses. Instead, we “borrowed” the cash value of one small life insurance policy. That amount will pay for one year and hopefully the investment accounts will be back up some by then. Never thought the Dow would go below 8000 - makes me somewhat optimistic to now see it above 9000.</p>
<p>Have always been a “coupon clipper”, but go beyond that now. Look for bargains everywhere. Send in every rebate. I don’t buy any clothing, etc. unless it is something I absolutely need. Husband still shops at his favorite little high dollar men’s clothing shop.<br>
As the longtime saleman who helps him humorously said, “Well, someone has to make the sacrifice!”</p>
<p>Our cars are 5 and 6 years old. In the past, they would have been replace by now. We plan to keep them several more years. Younger D doesn’t take her small economy car to college. I drive it around town and leave my large SUV parked in the garage.</p>
<p>We live in a town of 25,000 in the Midwest. On our street alone there are 6 houses for sale. Some have been on the market a l-o-n-g time. Our next door neighbors lost their home of 14 years due to too much debt.</p>
<p>Haven’t we had enough threads where everyone tries to one-up each other by how frugal and non-materialistic they are? I didn’t think that was the point of this thread.</p>
<p>I get manicures and pedicures (I’ve cut back on them quite a bit due to the economic conditions, but I still like to give my wonderful little Vietnamese friends the business so THEY can make some money).</p>
<p>We have big TVs. We like them. H and I enjoy our “shows” and it is how we unwind. (as most know, we are both competitive athletes besides our “day jobs”, so we are not couch potatoes).</p>
<p>We have taken some nice vacations. We enjoy them and deserve them. They are not lavish but we know we are privileged to be able to go to the Caribbean and travel for athletic events.</p>
<p>We go to country music concerts and sporting events. We’ve cut back- the economy again- but we enjoy it.</p>
<p>We have both worked hard in our careers (H is retired) and have made mostly good (some bad) decisions. </p>
<p>H loves Starbucks. We like new clothes. We like new athletic gear-often. </p>
<p>We don’t waste water, electricity or gas. We recycle. </p>
<p>Our bad…</p>
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<p>That’s the thing. On another saving money thread a while back, someone suggested that instead of going to the salon, you ask the stylist if she can cut your hair at your or her home for less money. Okay, so that happens and she loses customers at the salon and maybe can’t lease her space anymore. Enough of that and the salon can’t pay the rent. If no rent, the landlord gets foreclosed on. It’s such a spiral, but you can’t really blame the woman who can’t afford the haircut for trying to save a buck. We’re eating out less, but I try to tip a bit more, in hopes that it will somehow work out for the waitstaff.</p>
<p>One thing we’ve done has been to be more conscious about supporting local businesses, especially restaurants, as opposed to national chains. The chains will rebound, but if the local pizza joint goes out of business, it’s gone forever.</p>
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<p>Same here. I make a conscious decision now of “as between these two restaurants, which do we most want to stay in business?” The local businesses have it so tough though. We went to our favorite local Mexican restaurant Sunday evening. It was mostly empty. Because of that, the staff count had been greatly reduced, making everything take forever. The formerly huge beverage glasses (that come with unlimited refills) are now half the size…so you need more refills but there is less staff to give them so you end up consuming less. The tortillas no longer come with butter…and by the time you flag down a waitress, the tortillas are cold so you don’t want the butter anyway. The three lovely slices of avocado that used to grace every plate are now three shavings of avocado. So due to cost cutting, the experience was not good, so next time we’ll try our second favorite local Mexican restaurant.</p>
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<p>H did not get his bonus this year. Both our 401K’s lost about 1/3 of their value. Our savings for the kids education also lost about 1/3 of its value. </p>
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<p>I know 3 folks in the building trades, 2 are laidoff and have been for close to a year, the 3rd owns his own business and can barely make ends meet. His kids are being pulled from private school which they can no longer afford. My S’s private school did not give raises to the teachers this year, they needed the money for other things. A friend works in residential real estate and has started leasing houses in new developements they cannot sell. </p>
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<p>I am very cautious about charging anything. I have started trying (and liking) store brands. I rarely buy more than one cup of coffee a day. I combine errands so I use less gas. We are trying to save more, buy less. I expect to tighten the belt even more as my rising Jr. starts looking at colleges. Because we will soon be paying college tuition, we are even more cautious about spending money.</p>
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<p>I plan errands better. I am trying cheaper brands at the supermarket and not as snobish about the brands I buy.</p>
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<p>We lost wealth — paper profits — in the stock market crash and that has made me feel less flush obviously, less secure about the future. Income has not changed, though, so no major belt-tightening. </p>
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<p>The most obvious was the loss of local businesses and seeing some chain stores here — Circuit City, Expo — close their doors. We have some friends struggling with the impact of a job loss (pharmaceutical consultant) and the threat of loss (GM engineer) but surprisingly, no dire other dire impact among the people we know. At our h.s., families support activities by paying booster dues and transportation fees and in our group, we had eight families ask for waivers/scholarships on the dues. Last year, maybe two families needed help.</p>
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<p>Postponed large purchases and cut back on discretionary spending quite a bit. Stopped shopping at the high-end grocery store even though I like it’s meat-fish counter and specialty prepared foods. Only shop when I need something specific…not shopping the sales just out of curiousity so less impulse buying. </p>
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<p>Yes, I think I’ll remain tightfisted for quite awhile. </p>
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<p>We refinanced and got a better rate on our mortgage.</p>
<p>Didn’t mention this before, but tax revenue has taken a huge hit in my state. No layoffs in the school dept in my town, thanks to fed stimulus money, but huge layoffs in neighboring towns. It looks like social service agencies will be hit hard, just when they are needed most. Sales tax is going up, but will not have a big effect on my spending.</p>
<p>H’s income has remained stable, but our retirement savings and college savings have taken a huge hit. We have twins starting college fall, 2010, and thought we had saved enough to pay for both educations, but not so anymore. We’re old and have been married a long time and saved “religiously.” 
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<p>DH constantly watches the financial shows on TV while he is on the exercise bike and when drinking his early morning coffee. I wish he wouldn’t since it’s very stressful and certainly isn’t helping us in any way.</p>
<p>Retirement will have to be postponed-I would say that would be the worst of it. DH especially has worked very hard and I was hoping he would be able to retire within the next 5-7 years, but that’s no longer feasible.</p>
<p>I am very conscious of the local stores going out of business. We did not take a family vacation this year for the first time in many years, but are doing lots of driving to prospective colleges.</p>
<p>Very happy, given the circumstances, that DS#1 has another 3-4 years of graduate school, fully funded.</p>