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Is the economy affecting you????

RachelJohnsonRachelJohnson
in Alabama Babies

( I never do well with the whole affect/effect so if I used it wrong someone please correct me :))

 

Luckily dh and I both have fairly secure jobs so the economy hasn't had an effect on us in that regard. It's definitely made us much more aware of our financial situation and has motivated us even more to get out of debt. I think we are gonna try and do our little 'spending freeze' for a couple of months like we did last year. Just trying to beef up our savings. I'm also seriously questioning my 401k at the moment. I know I should just leave it alone, but I've lost HALF of my investment. Ughhhh!!!!! Anybody change their contributions? Stores/plants are closing daily here and its not like my area has a lot going for it to begin with. Scary times!!

Sorry if this comes across as being a downer...don't mean it to be. Just wondering how everyone else is planning to 'ride it out'.

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Re: Is the economy affecting you????

  • loyo03loyo03 member
    It has made me worry about spending so much money, fav stores are closing, both of our parents are in retail business and have not done as well as usual, friends have lost jobs.
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  • RachelJohnsonRachelJohnson
    Christmas has probably taking the biggest hit this year because we are trying not to spend so much. We've also had some family members laid off so we've opted not to do gifts this year at a couple of gatherings...just buying for the kids. Maybe thats why I havent been able to get in the christmas spirit this year??? ;)
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  • hamillmhamillm

    We are also fortunate to both have good, steady jobs...that's one reason we wanted to go into the healthcare field.  We haven't been affected too much, but it's just us, so we will find out in a few months when we have another mouth to feed!  Also, we don't have a house, so paying rent has actually helped us this year I believe.  We have been able to save a little more and pay some down on the credit card. 

    Oh, and btw, you used "affect" correctly!! Lol

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  • MrsJRTMrsJRT
    We are pretty fortunate that we both have jobs that aren't affected, but BIL is a stock broker, so obviously, he is stressed big time.  It is very frustrating, though, because it didn't have to happen....I could get on my soapbox about irresponsible executives flushing their companies down the toilet and expecting a handout so they don't collapse....but it's Christmas, so I won't!  I just feel badly for all of the people that it is affecting, so that gets me even more fired up about it. :(
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  • star21gazerstar21gazer

    We are also fortunate to have steady jobs.  We are trying however to get rid of some debt and save more, so we have really cut back on stuff.  And we put limits for everyone on our Christmas this year which I'll be honest has sucked because I enjoy buying everyone Christmas and so I haven't really been in the mood because my shopping was mainly gift certificates this year. 

    Jackie I have your sentiments about this buyout stuff as well.  My dad is a retired General Motors worker and I know that he is sitting there wondering what the heck is going to happen with his retirement.

    Rachel we have been considering what to do with Wes' 401k.  He's losing some and part of me wants to switch where it goes and part of me wants to ride it out and see how/if things change after the inauguration.  I'm hoping that there will be an upturn in the market soon.  Since I work at a private school I just have a roth.  So we ony have to watch his 401k mainly.  

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