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  1. #21
    Feline Member kelric's Avatar
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    Quote Originally Posted by ygolo View Post
    The basic answer for me is to conserve and wait it out.
    I'm in pretty much the same position as Ygolo - there's not a whole lot I *can* do - I'm not a big spender anyway, so there's not a whole lot of cutting to do that way. It's more of a wait it out thing... at least I can hope it stays that way. All in all I'm pretty fortunate.

    More than anything, the situation has trapped me in my current circumstances. I'd been thinking about new jobs, etc - but I certainly can't afford to do that now. There are a few reasons I'm not terribly thrilled with my current situation workwise, but it is stable, and in a fluxing economy I'm by no means certain of finding anything anywhere near as good... and my static expenses (mortgage, etc.) won't allow me to simply ride things out with no job (almost all of my savings are locked away in low-tax / high-penalty-for-withdrawal retirement areas). So I'm in a wait-it-out and hope it doesn't wind up postponing my retirement 30 years () from now.
    [SIGPIC][/SIGPIC]

  2. #22
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by Anonymous View Post
    What's that have to do with the global economic crisis?
    Hah. You probably don't realize how fitting this response is.
    Go to sleep, iguana.


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    Live and let live will just amount to might makes right

  3. #23
    Oberon
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    My expenses vs. income are currently at about 103%. In other words, we're slowly losing money.

    I anticipated that this would happen during the first year of my job change, but we plan on the situation being reversed by one or both of the following factors: 1) the house selling, or 2) my anticipated raise in February. There will be a profit-sharing bonus in the meantime to help offset the monthly losses.

    But with six of us living on one income, there is no capacity left for savings or for stockpiling.

  4. #24
    Senior Membrane spirilis's Avatar
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    Well...

    1. Diverting significant amounts of my monthly income to my investment account so I can play the bottom-buster stocks coming about.
    2. Saving more aggressively for a house. Definitely buying one within the next year.
    3. Going on a diet--eating less food = less money spent! I put this here almost in jest, 'cause it wasn't the economy that drove me to do this--it was my doctor (who referred me to a dietitian)
    4. Not much else. Oh, I own a scooter (have for the past ~2 years or so) and have been driving more conservatively in my subaru, even though gas prices have plummeted. Guess that's worth something
    intp | type 9w1 sp/sx/so

  5. #25
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by spirilis View Post
    2. Saving more aggressively for a house. Definitely buying one within the next year.
    Saving is great, but I'd hold off on buying for more than a year. Housing prices still have a ways to go before they fall back to the historical median price (adjusted for inflation). Prices were at over 200% of their historical median at their peak. The last time I checked, they were still over 150%. I think it'll be 2-3 years before they bottom out. The more the government gets involved, the longer it'll take for those prices to bottom out (and the government can't stop that from happening no matter what they do, they're only delaying the inevitable). In virtually every market, it's still more cost effective to rent than own and will be until the market bottoms out. That's actually how we'll know when it hits bottom. Some demand will shift from renting to owning because prices will have finally fallen enough to merit the shift.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  6. #26
    Arcesso pulli gingerios! Eldanen's Avatar
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    This is what I hate about a bad economy. Less opportunity for higher education :/.

  7. #27
    Senior Member King sns's Avatar
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    My economic crisis plan? Luck!

    I managed to slip into nursing school and get my finances straightened out at just the right time.. I got loans to pay my way, (although it was really hard to get them) and my grandmother passed so i'll get some money from her estate.. (not too much, but my mother is giving me some to help me pay my loans) and I have a well-to-do INTJ boyfriend who is very economic-crisis savvy and loves to find new ways of saving money.

    Other than that all I can do is pray.

  8. #28
    Senior Member dga's Avatar
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    trying to find a way to open a bar, because misery loves company, and alcohol drowns away the sorrows.

  9. #29
    Senior Member Grayscale's Avatar
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    Quote Originally Posted by ptgatsby View Post
    o_O Where the hell do you live man, cause I want to live there. Or make as much as you do

    Minimal structural costs for me would be about 35%. When GF and I were together, before getting married/her starting school, we got it down to about 20% core and 15% discretionary. Bleh, now I'm at about 95%, and very little is discretionary (reduce income, increase expenses... does magic.)
    well, those are not realistic values for most people. at any given point i never have more than 1 financial commitment, right now i am working on a car loan but past that i have no family or anything to support. so i would think most people are comfortable with 40-50%, but for me that is rather superfluous and i need to be more conservative.

    my friend and I decided yesterday it would be best to take advantage of the failing housing market by renting a large home. the difference in cost effectiveness vs. an apartment is ridiculous... people who own these homes no longer can manage to make money, the pricing is very competitive and they can only try to get enough to keep the home and eat the difference. in this area, you'll pay about $900/mo. for a barebones 1/1 apartment, but if you split a house by the same square footage, adjusted for communal living areas, it's easily under $600/mo per person, and a $million home is much nicer than a cramped apartment.

    this setting also allows us to share resources and utilities (cable and internet are the biggest here) and buy/cook food in bulk. as someone who's lived extensively by myself as well as with a roommate, i actually prefer having other people around as long as i have private space. if times get tough, staying entertained is much cheaper as a group.

    Quote Originally Posted by shortnsweet View Post
    I have a well-to-do INTJ boyfriend who is very economic-crisis savvy and loves to find new ways of saving money.
    certain types seem to have a knack for contigency planning

  10. #30
    Oberon
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    S&S has a boyfriend.

    [sigh]

    Even though I'm a married old coot, it makes me just a little sad.

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