Difficult Economic Times and You

Luba · 10-08-2008, 08:36 AM

Are you changing your lifestyle a little, somewhat, or not at all during these tough economic times?

Which of the following are you trying or going to do?
(1) Going out to the Movies less?
(2) Buying less Big Ticket Items?
(3) Going out to Dinner less?
(4) Renting instead of Buying Movies?
(5) Buying non-essentials in the Grocery Store?
(6) Going out less?

Duke · 10-08-2008, 12:26 PM

I've had to change virtually every aspect of my life because costs are going up but my wage is completely stagnant. Oddly enough, my wage remains a constant yet the company expectations seem to increase continually so it's taking a heavy toll on my state of mind.

Every single day it costs me more both financially and mentally to continue on the path I've grown accustomed to so I've had to make some major changes.

What I've changed/in the process of changing:

Seeking new employment opportunities focusing only on careers, not simply a new job.
Lifestyle changes such as:

Eating at home more.
Driving less.
Buying less for my child.
Buying less for me.
Examining avenues for "rainy day" funds because I know it's going to rain in my life more and more frequently until I can fix the income situation.
Keeping my business start up in the back of my mind and trying to build funds for the day I start marketing.

...and most importantly, trying to find ways to save for camping trips each year. Now that I've gotten a taste for camping with my child and the mental well being associated with it, I want to make a habit out of it.

I've also changed my diet and I'm currently ramping up to a full blown daily exercise routine. I've been exercising daily (although my waistline hasn't noticed) and hope to make it a habit hence the every day regimen.

Meanon · 10-08-2008, 06:24 PM

All of the above. The credit crunch couldn't have come at a worse time for me as all my financial chickens come home to roost. And to top it all - we have to move house again as the landlord wants to sell and there is no way I will be able to get a mortgage

Luba · 10-08-2008, 07:00 PM

Meanon, sorry to hear about having to move!

Meanon · 10-08-2008, 07:21 PM

Thanks Luba. It's not until next year. It's one of the things I hate most about being in rented - the insecurity, especially for the kids. Most of the adverse consequences of my divorce have been dealt with more successfully than I ever could have imagined - but this one will run and run, I fear.

TKDLady · 10-08-2008, 09:07 PM

(1) Going out to the Movies less?

Don't go to them much anyway so, no.

(2) Buying less Big Ticket Items?

Haven't done that in a while either so no big adjustment there either.

(3) Going out to Dinner less?

Once again, don't do it regularly anyway so no change.

(4) Renting instead of Buying Movies?

I buy one movie maybe once every 3 or 4 months. I can deal with that.

(5) Buying non-essentials in the Grocery Store?

Since my kids are gone, also not a big deal. Don't eat much by our selves.

(6) Going out less?

You gotta go out in the first place to go out less.

Luba · 10-08-2008, 09:42 PM

We have many coffee shops here in our small city that sell cappuccinos and other fancy coffees. I'm not much on fancy coffees, but do you drink one or more a day? Are you able to give those up if you had to?

TKDLady · 10-08-2008, 10:26 PM

I don't drink coffee at all. Starbucks Frappacino's are all I ever get and that is very rarely.

darkangelism · 10-09-2008, 12:57 AM

well gas prices have dropped like a rock $2.70 now so im saving more there, beyond that i have been putting as much money into stocks that have lost a lot, gonna wait for the upswing. other then that i spend the same as ever. only having to worry about me makes it easy

Mondo · 10-09-2008, 04:28 AM

I'm just not buying luxuries other than the occasional beer in teh pub on a Friday.

I don't know what its like in the rest of the world but food prices here have shot up, just living is costing allot more.

I'm dreading this Saturday when the Landlord is coming round, I have feeling he wants to sell the flat which will leave me and my girlfreind screwed.

Luba · 10-09-2008, 08:34 AM

Sorry to hear that, Mondo? Do you have Plan B just in case?

TKDLady · 10-09-2008, 09:52 PM

I hope you are wrong Mondo. What an awful feeling that must be. Good luck and hope you don't have to move.

Vautrin · 10-10-2008, 02:10 AM

I can't really compare. When the bad news happened, I was going to SA. In terms of exchange, I have grown 10% richer in the past few days, simply because the South African Rand is quite volatile and under pressure.

SA is a low wage country, so other than the basics you don't really notice that prices have gone up. The problem is, if you can only afford the basics (and with poverty in SA as it is, that is the condition for most people in the country

)then you do notice.

(1) Going out to the Movies less?
A movie ticket comes at about $5 at most. Then there are various schemes allowing you to pay about $2 for a ticket. Mind you though: the average daily income of the working poor is about $15-$20.

(2) Buying less Big Ticket Items?
Big problem in SA. Slowing sales of cars, houses, and other big items.

(3) Going out to Dinner less?
Wages are low, so little impact there. Going out does not cost that much more IF you have the money.

(4) Renting instead of Buying Movies?
Going to the cinema is cheaper than renting a movie.

Renting is definitely the way to go.

(5) Buying non-essentials in the Grocery Store?
I don't think there is a big impact on the wealthy people here. For the poor however, the rising food prices have slashed the extras.

(6) Going out less?
See (5).