How are you handling the economy? - Kawasaki Versys Forum
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post #1 of 29 (permalink) Old 12-04-2008, 12:48 PM Thread Starter
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How are you handling the economy?

I'm curious how others handle news that the economy is tanking.

The value of my retirement account has dropped 47% since Early June so I've made a number of changes.

Canceled our Xmas trip to Disney
Cut dining out to twice per week
Slashed our Xmas budget (who really needs more stuff?)
Increased contributions to savings accounts
I cut my trackdays to only 4 this past year

Neither myself nor my wife have lost our jobs (nor do we expect to). However, we've made changes to ensure we don't have a problem if the unexpected happens.

I realize I've become part of the problem by not spending, but this economy sure has me spooked.

Just curious how others are handling the situation.

Don
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2005 Suzuki GSXR1000 (slightly bent) - Track
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post #2 of 29 (permalink) Old 12-04-2008, 03:54 PM
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We cut our christmas budget quite a bit as well.
Both my wife's & my retirement accounts lost value.
My wife has done a great job with our food budget (of course, she's always done well) & being able to stretch a dollar (thanks Sam's Club!).
Gas prices have helped lately, though.
We dropped internet/email from our cell phones.
We switched to internet phone through T-mobile from SBC/AT&T. That saved a little.


Of course, there are a few luxuries we're pretty stubborn about:
Broadband interenet will be one of the last things to go.
Cable TV is very important to the wife, so that'll stay.
My bike is here untill its replacement shows up.
Seems like the cell phones are here to stay. The home phone will go before they do.



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post #3 of 29 (permalink) Old 12-04-2008, 06:24 PM
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I recently paid off my truck early. I keep telling myself to cook more but I haven't done it consistently. I've been kind of half-way doing Dave Ramsey's plan for a few years now and it has kept me out of a lot of debt that I would've no doubt got myself into. cut up your credit cards!!! anyone else on here familiar with Dave Ramsey?
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post #4 of 29 (permalink) Old 12-04-2008, 07:01 PM
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The Chevy dealership is slow. I am begining to think I might be job hunting after the first fo the year. 57 years old and job hunting should be interesting. I hope I am wrong and things turn around.


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post #5 of 29 (permalink) Old 12-04-2008, 07:09 PM
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I'm a poor college student to begin with so I haven't noticed to much yet...
I try not to worry too much about it either (I know that won't make it go away) I did open a roth IRA account so I started planning for my future we'll see what happens with it... I ride a motorcycle so that helps with gas!...haha... ummm I guess thats about it... whos dave ramsey

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post #6 of 29 (permalink) Old 12-04-2008, 08:48 PM
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Hoping to stimulate the economy by buying a Versys in '09, gnarly candy lime green please.


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post #7 of 29 (permalink) Old 12-04-2008, 11:19 PM
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When I bought my Versys I planned on 2 years of payments to pay it off. That went out the window when the economy took a dive. I've made a $100 a week or more less every week this year. I like my Verys but I'd of never bought it if I knew this year was going to turn out so bad.
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post #8 of 29 (permalink) Old 12-05-2008, 04:05 AM
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My dad started me out right when i was a kid, and some say i'm still a kid at 28. I'm a triple major and tripled degreed mechanical, electrical, and chemical engineer. My parents danced in song the day I graduated from the University of Kentucky. But the company I work for, International Specialty products is pretty strong even though the economy is shakey. I know our texas facilities are cutting back some, but they are smaller branches that supply different products. Other than fuel prices, and the 87K i lost in my retirement and stocks, we're doing about the same. Yes I said 87K. I cried the day my google stock started tanking. I paid for the versys in a little over 4 months with the reduction in my fuel consumption. as I alone was spending well over $1400 a month in gas. My wife is an Anesthesiologist, so, i'm thinking she's pretty secure in her job. especially with all us knuckle heads on two wheels!

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post #9 of 29 (permalink) Old 12-05-2008, 06:22 AM
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Other than fuel prices, and the 87000K i lost in my retirement and stocks, we're doing about the same. Yes I said 87000K.
Josh, I think we'd all need an anesthesiologist if we lost $87 million!
($87000 x 1,000 = $87,000,000)


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post #10 of 29 (permalink) Old 12-05-2008, 06:36 AM
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We just got word at my company that many production workers will be losing their jobs this year because the company has decided to move the work of the Production Specialist and the Quality Specialist to India and the Phillipines. I work for a major electronic legal publishing company (if you are in the legal business you've heard of Westlaw).

My job isn't affected by this transistion. But we all see the writing on the wall. We build business productivity systems for the production teams and also several other departments. If the production teams are overseas they'll have their own development teams and won't need our services.

We have decided in the mean time to upgrade our skills. The entire department currently codes in Visual Basic .Net - we are switching over to C# .Net. C# is in greater demand in the market place than VB is. When the bottom falls out we'll have marketable skills.

Now I know the true definition of globalization - I not only have to compete locally for my job but around the world as well. There is no way I can compete with someone in India or China with the wage difference. I'd be living in a cardboard box on the street.
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post #11 of 29 (permalink) Old 12-05-2008, 07:20 AM
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Only spending for the kids this Christmas.
More savings
Less extra unnecessary stuff

Graham

To do is to be. -Descartes
To be is to do. -Voltaire
Do be do be do. -Frank Sinatra


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post #12 of 29 (permalink) Old 12-05-2008, 08:35 AM
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At my job we are working like beavers but I'm worried that will last right up until the inauguration.

I'm calm like a bomb!


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post #13 of 29 (permalink) Old 12-05-2008, 08:57 AM
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hey guys I don't get on here a lot, but this topic really gets in my crawl.

i have started putting more in the savings also, and have discussed with the family about not over doing it this year however;

bailouts for multimillion dollar corporations, stimulus packages sent to people just so they can stimulate the economy or in most cases just pay their bills.

700Billion Dollar bailout for banks. Now 34Billion dollar bailout for the big 3. Those are not going to make people buy anything, we are just paying their bills TWO times. If we owe, we pay, we pay taxes, so we pay again......WTF

I have a pretty secure job in the nuke power industry, luckily. Some people in my family and friends of mine aren't so lucky. If they want to stimulate the economy, why don't they just cut all the tax payers a big fat check.

734 Billion dollars divided by the population of the US which is 301-305 million people. Do the math. God forbid the citizens get a good kick in the arse with a substantial economic stimulus check. Distribute those dollars to the taxpayers and let them pay on the mortgages, credit debts, and what ever else they want. It's our money these people are asking for anyway.

Yes, I do miss my Versys terribly and I am going to get another one.

I can't help I am not on of the Sheeple.
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post #14 of 29 (permalink) Old 12-05-2008, 10:31 AM
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We have pretty much stopped all unnecessary spending (which I'm king of), stopped eating out as much (big expense even with only 2 people). Have no plans of making any major purchases.
My job seems secure.......but in reality none are today.

I think a lot of people are thinks as me...no major purchases etc. Which is helping kill the economy...but you've got to look out for yourself, I found out early on that nobody else will.

I expect the worse, and hope for the best!!
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post #15 of 29 (permalink) Old 12-05-2008, 03:56 PM
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hey guys I don't get on here a lot, but this topic really gets in my crawl.

i have started putting more in the savings also, and have discussed with the family about not over doing it this year however;

bailouts for multimillion dollar corporations, stimulus packages sent to people just so they can stimulate the economy or in most cases just pay their bills.

700Billion Dollar bailout for banks. Now 34Billion dollar bailout for the big 3. Those are not going to make people buy anything, we are just paying their bills TWO times. If we owe, we pay, we pay taxes, so we pay again......WTF

I have a pretty secure job in the nuke power industry, luckily. Some people in my family and friends of mine aren't so lucky. If they want to stimulate the economy, why don't they just cut all the tax payers a big fat check.

734 Billion dollars divided by the population of the US which is 301-305 million people. Do the math. God forbid the citizens get a good kick in the arse with a substantial economic stimulus check. Distribute those dollars to the taxpayers and let them pay on the mortgages, credit debts, and what ever else they want. It's our money these people are asking for anyway.

Yes, I do miss my Versys terribly and I am going to get another one.

Amen to that brother! I don't see how our gov't, the powers that be, can say with a straight face, to us the American tax payer, that we need to help these corporations. After all the jobs sent over seas, after all the job cuts, after all the crappy loan deals, crappy quality cars, stupid decisions, we need to bail them out!

Give that tax money BACK to the people who paid it in! Give to me so I can pay my house off, my bike off, my car off!! After my bills were paid, I'd go buy me a brand new car. I'd probably even buy a brand new house! I'll stimulate the damned economy!



...sorry, getting off the box.





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post #16 of 29 (permalink) Old 12-05-2008, 06:11 PM
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You go - Bear!

Just found out my mom got laid off at work. She's 64 y.o.
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post #17 of 29 (permalink) Old 12-05-2008, 06:58 PM
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I have a small construction company and work has just about come to a stand still. Christmas looks bad and 09 don't look much better.

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post #18 of 29 (permalink) Old 12-05-2008, 08:06 PM
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You go - Bear!

Just found out my mom got laid off at work. She's 64 y.o.
That is just criminal! My heart goes out to her!


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I have a small construction company and work has just about come to a stand still. Christmas looks bad and 09 don't look much better.
I hate to hear it. I imagine many people in your line of work are being hit hard...



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post #19 of 29 (permalink) Old 12-05-2008, 09:47 PM
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My family's doing OK at the moment...have a decent job that pays the bills. Needless to say, these days one's loyalty is only until the next pay check, so not sure what the future has in store.
Had (have) plans of buying a house....and there are decent deals to be had...but scared to death nonetheless! Crazy situation overall...

Ocean, sorry your mom lost her job....hopefully she can land another one quickly! Guess we all need our share of Good Luck!

Take it easy and dont think about this crap when riding! :-)
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post #20 of 29 (permalink) Old 12-06-2008, 10:08 AM Thread Starter
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I am sorry to hear about the pain of others, especially at this time of year. My heart goes out to anyone having trouble in this economy.

I don't really care for the bailout of Wall Street firms myself, but I do think it's important that we actually makes stuff here, so I'm for the Auto bailout. I would like to see the Big-3 move production to other parts of the country. Having workers in more states would sure make it easier for the whole country to get behind helping them out.

Happy Holidays!

Don
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2005 Suzuki GSXR1000 (slightly bent) - Track
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