The Economic Meltdown and You: How Are You Handling It?

Hello fellow ATS members. These past few months have been some of the hardest months economically for us in at least 30 years. What we're faced with in this era of over-inflation and failing banks is a very uncertain economy. This breeds an environment that is very fickle, and even downright unpredictable. This doesn't mean however that we cannot make the best of a bad situation.

What I'm hoping to do with this thread is to give each member an opportunity to tell the rest of us how they are dealing with their own brand of this recession, in the hopes that it might help out someone else, if not inspire them to do something unique in their area. Of all of the vast resources that ATS has to offer to us, WE are it's largest commodity. WE share, each and every day, ideas that otherwise would make people guffaw at us. In this case, however, we could potentially help someone else out by giving them an idea that will give them a way out of their current situation.

In other words, the world's in a crunch, but we may collectively have the solution.

So, what say you, ATS members? Please discuss.

TheBorg
Forum Member and Moderator

Please delete.



[edit on 3-3-2009 by Burginthorn]

First off, thankful that I cashed out my 401k back in Dec 07. Saw it coming.

And wouldn't you know it...it was with AIG! I did take a hit on the tax end, but nothing like what it would have been if I had left it in.

If I had not cashed out would I now? Only you can answer that.

Getting my house in serious order. Think about this...if you had to leave, what would you not want left behind for someone else. That is real important.

Also, have dug up alot of the stuff I had gathered from y2k ( I am not the only one that remebers that?...how we woke up the next year, and nothing happened?) Oh if only this could be like that! But still, all that stuff could come in handy.

Making a list, checking it twice. Gathering all of it together, making sure it works, getting it in portable's.

Getting seriously aquainted with cooking rice, cornmeal, and lentils and tortillas...just to make sure that I know how ahead of time.

Gathering food...sterno, propane and other supplies that need to be bought.

Making plans with family, setting check points, gathering spots, and contact people.

Strengthing mind, body and soul. Mental preperation is key to success.
Staying calm. panic will not help. Staying away from protests, and disrupters...you never know thier intent.

Also, I have come up with a list of pantry items that keep for nearly forever. I am suprised! I am going to post a seperate thread, with all that when I am done researching.

[edit on 3-3-2009 by burntheships]

Luckily hubby and I didnt have tons of cash put away in stocks, bonds, 401K's. In fact my dad had taught me that all of the above were not safe. So my way of doing things has always been to keep cash on hand and to just buy things as its needed.

Luckily we have the land to grow things on so we started last year growing alot more then normal. I also started buying up 2x's what I normally hide away just in case of bad times.

I also have made sure that I have clothes ahead that will fit my kids right up until when they are in there teen years. I have 2 closets full of good used clothes that I have picked up at yard sales over the past 2 years. I believe in looking ahead. And keeping myself prepared.

One thing that I always tell people this time of the year especially is look for good sales on wood stoves and kero heaters. You can heat your home if ever needed with them and you can also cook on both. I prefer wood. But have both just in case. Its always best to buy kero in the summer months when its cheaper as well so you can hide it away.

One thing that lots of folks may not be thinking about is that if a great depression happens like before there will be litte gas. So make sure to stock up now before the price goes way up again. I bought 50 gallons total when it went way down to $1.79 a gallon. Its now on the rise again so now is the time to get some extra.

Worried about lights? Buy a few extra solar yard lights. You can bring them in at night time, put them back out during the day and they give off enough light to get around the house with. Home depot even has a solar spot light for about $20. That should brighten things up if you need it.

If you all want to save some cash on those little containers of propain go to Walmart. Its cheaper then at the local grocery stores. I paid $50 for a brand new one at a local grocery store and it was $33 at Walmart. So I bought another one. Exchanges are cheaper to. The worst part is, its the same gas company.

As for the economy and its effects on us. I have to say it has slowed us down alot. My husband lost his job. He has been a roofing contractor for 20 years and now there are no roofs. No new houses are being built and folks that need repairs done dont have the cash to have it done. So its just me working full time. And that just barely keeps us going.

We have been breeding Siberian Huskies for over 25 years. All with perfect blood lines. Usually we sell our puppies for $800 each. In Dec, we couldnt even get $200 a puppy. So in Jan we went down to $120 a puppy, without papers. And we sold 4 out of 8. I then had to give away 3 more. I still have one more left. Last month I put down 2 of my females. I said no more if the economy is this bad I will put my dogs to sleep. Which I hated doing, but even the dog shows have stoped paying money for prizes now its all dog food. So I figured dog food wont pay my bills. Why keep my dogs for free dog food.

I have to say I dont think the economy is ever going to get better and the more Obama keeps saying he wants more cash the faster the stock market drops. Soon enough we will be seeing the depression big time. Be prepared for the worst.

hate to say this, but well, I am kind of sitting back enjoying the spectacle!!

my company offers a 401k plan.....I never took them up on it, because, well, I kind of knew that it would be a waste of money....
when I was debating the offer, I put the two funds that they offered on my yahoo stock watch...
went back the other day, and looked at theose funds....not only would I have lost all of my boss's contribution, but I would have lost half of mine as well?

my hours might be cut, but my boss's business is his enjoyable hobby! he owes nothing on the building, and seems to have plenty of extra money still....my hours might be cut, but I am pretty sure I will have a job throughout this...my husband in is about the same position...
we have always just been content with making ends meet, not having everything under the sun anyways. and well, I think we will always be able to find a way to make ends meet.

it's the people who got used to having it all, regardless of the credit card bills that are gonna be hurting, much more than I will....

so, well, hate to say this, but this is prime time entertainment to me!! all those educated fools in washington, without a clue as to what is happening, let alone how to fix it.....

if any of them are reading this...here's a clue....

QUIT SPENDING SO MUCH MONEY!!!

We've just been settling up as much as possible so we don't have anything unnecessary looming over us. We're just left with our car on finance and a mortgage.

We're making extra payments on the car to get it paid off ASAP and we're trying to get the bank to give us a new mortgage at the lower interest rate which will save us over 300 a month but at the moment they won't do it as it's only for new customers!? It's not like we're asking for more money on the mortgage - just a straight swap to a better deal.

Apart from that we have extra food stored but that's something we always have anyway. We're self-employed so never really know when we might hit a tough few weeks.

Kind of a mixed bag for us. We only have a few stocks that we dabble with, so that's not the end of the world. Most of our savings are in iBonds which are doing fine - and we can always pull those out at short notice if we had to, even though they may not be matured.

However, the main worry is my wife's job security. She works in the marketing department for a local bank. Not only are banks a bit unsteady (to say the least...) right now, but marketing is usually one of the first areas that a business will cut when times are tough.....which makes absolutely no sense to me. On top of that, there is a strong possibility that my wife's bank is going to get bought out by another, larger, bank within the next couple of months - and who knows if they'll keep any of the her banks employees. Also, I'm a full-time student and have no job right now

As a backup plan, we're planning on starting a little business of our own so at least we'll have something to fall back on if she gets laid-off.

I'm skint,always been skint,always will be.

All the cash I get I spend on goodies,sweeties and toys...so in a way I guess I'm one of the few 'Holding up the economy'

Work wise, I had to take a reduction in what I pay myself(I'm a tough boss)but am working more to make up for it.
Most people in my position/line of work are struggling and quitting,leaving me to pick up the slack.

Summary = Just getting by getting by.