Fru-Gal Friends

Subject: Recession ready? Tue 18 Mar 2008, 8:30 am

I received a email today asking if we were recession ready....it made me think,,and I hate to say it but my answer would be NO.

We are planning a vacation but have decided instead of going farther away as planned,,we are going to do more local and closer to home type things.Such as I live in Ohio,,and havent been all over Ohio,,we might do some weekend getaways and see whats in store for us. Surprised

I had a side job in the making but waiting on some paperwork from the state is taking way too long so I think I am going to try somewhere new.With that side money we can pay off 3 credit card debt quickly and stash some in savings,,for just in case. pale

To be honest,,Mike and I couldnt live on one of our incomes right now,we need both,,so if the recession hits us and we lose one income then alot of extras would definitley go. Sad

That darn email has me thinking"what if",,are we prepared..if it dosent effect us ,it might family,,could we be there for them to help... Question

I guess this is where frugal minded comes into play more so that ever.Are you prepared ,say if your income was cut in half or a finacial problem comes your way?

Subject: Re: Recession ready? Tue 18 Mar 2008, 9:43 am

I can say that without a doubt, we couldnt survive on just one income.

Now...if the Akron house was gone, we would have to live pretty tight to live on one income, but it would still be doable.

Today, I am going to the bank to pay off Todd's car.
I've had the money, but didnt know if any emergencies would come up. I've decided just to pay it off.

And I've decided that we are going to take all of our income and pay off Todd's van. It should be paid off by September if all goes well. Just by paying off things here and there, it helps!

51/month for the car
172/month for the van
100/month for the cell phones we are not renewing

and hopefully $800/month for the Akron house

~M
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"It is not how much money you make - it is how you spend it."

Moderator Age : 27 Joined : 12 Oct 2006 Posts : 1693

I would say we are pretty ready...we are used to living on one income and if Rob lost his job he could farm...so we will be kinda ok...maybe...=)

Subject: Re: Recession ready? Tue 18 Mar 2008, 11:55 am

we would be ok we live off Frank income .. we do have the money I was left by family members who passed . Frank business is solid he and the boys are working 5 /6 days a week and jobs come in daily. Even if the surveyor work dried up we have enough farming and other investments that we would be very comfortable ..

I worry about those who had no plan or idea.

what concerns me if we fall much more as a nation it will be more of a depression , this time families dont live on the farm.
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Gayla

"They take great pride in making their dinner cost much; I take my pride in making my dinner cost so little."

---Henry David Thoreau (1817-1862)

Subject: Re: Recession ready? Tue 18 Mar 2008, 5:28 pm

I am not. We already live very tightly on one income. Jobs are scarce around here. We would just have to get rid of a few things like the cable which is okay with me just not with everyone else
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Vicki

Subject: Re: Recession ready? Tue 18 Mar 2008, 6:14 pm

We could just about manage on one income but it would be tight and a few 'home comforts' would have to go, such as cable which I could happily live without since I don't use it, DH has it for live soccer games and I think it costs ridiculously too much for the limited package we have.
We'd be covered for a few initial emergencies but long term, I dunno....
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~ By sowing frugality we reap liberty, a golden harvest. --Agesilaus ~

Subject: Re: Recession ready? Tue 18 Mar 2008, 6:21 pm

I am diagnosing my husband,,I say he has carpal tunnel in his wrist and we are trying to get a appt with the doctor,,if it is and he needs surgery he will be off work for 4-6 weeks for recovery.His work offers no benefits at all..its all carried by my work,,so we might have to do the one income for awhile,,this would be a lesson to us..it will show how well we can cope!Time will tell.

Subject: Re: Recession ready? Tue 18 Mar 2008, 6:32 pm

I hope it's not as bad as you think Donna, but it makes you aware of possible difficulties arising from these type of situations. I pray the appointment goes well for your DH. Time to make preparations for all of us I guess, as best we can.
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~ By sowing frugality we reap liberty, a golden harvest. --Agesilaus ~

Moderator Age : 27 Joined : 12 Oct 2006 Posts : 1693

hope your hubby will be ok, Donna! Just remeber people have gone without much more than we can even imagine! Our church went to Africa and it was a heartbreaking story when they came back...even at our lowest we are living in abundance.

Subject: Re: Recession ready? Tue 18 Mar 2008, 7:13 pm

Donna praying for your hubby
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Vicki

Subject: Re: Recession ready? Tue 18 Mar 2008, 7:52 pm

praying for him Donna .
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Gayla

"They take great pride in making their dinner cost much; I take my pride in making my dinner cost so little."

---Henry David Thoreau (1817-1862)

Subject: Re: Recession ready? Wed 19 Mar 2008, 6:19 am

My dh has/had carpal tunnel a couple of years ago. They gave him a shot of cortizone (I think) in his hand and it hasn't bothered him since. He didn't have insurance at the time. Hopefully if your dh has it, it will be that simple for you all too. I will be praying.
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