Anyone Else Feeling The Wrath Of The Economy???

[megnsamsgracie]

Luckily, I started back to work 14m ago after being a SAHM and picked a good job. I work in a hospital in the inpatient psych dept. I LOVE it and we are busy as ever so I definitely have job security, helps they are paying part of me going to nursing school!

Hubby works at the nursing home next door (same campus) and he has job security as well. But its very scary times. We are both 7mi from home which makes a HUGE difference but I have to change other things.

I had lunch with my dad every week for the past 2 weeks, we meet in the middle (20min from my house, 25min from his house). It was nice. But now because of gas and my Suburban, I have to change it to every other week. I have had to cut back in other areas. Thankfully I am a huge Target couponer and my groceries havent suffered yet.

But things can change here in the drop of a hat. We live in a small town and work for a small town hospital and nursing home. You just never know I guess

 

[happycampers]

My husband and I, along with our sons, took several cuts in our pay so our employees wouldn't have to. It has to get better because we simply can't take any more cuts.

That's admirable. It's obvious that you care about your employees. Wish I could say the same for the CEO of DH's company.

DH has a college degree and has been with the company for more than 15 years. His salary is less than HALF of the CEO's annual BONUS (as in, the bonus that comes in addition to his half million dollar salary).

DH used to get a holiday "bonus", but a few years ago, they did away with that $30 gift card to a local grocery store. (Hmmm...$30x500 management employees=$15,000. Gee. The CEO's BONUS was about ten times that.)

Now, we just got a "Go Team" style letter letting us know that they will be significanlty reducing if not completely eliminating pension contributions for middle management in order to keep the company competitive.

In another couple of months, the union contracts are up. Then they can do the same thing to the union because they can back it up with, "Well, management has already taken that cut." (That's the same way things happened when the company reduced how much they contributed to health insurance.)

I keep telling DH that one of these days, I'm gonna go to the CEO's house in "National Lampoon's Christmas Vacation"-style.

 

[HM]

DH just had hours cut at his job, he works at the Borders ( Books) headquarters he is an IT there and they are cutting back since the economy has started to fall, basically no one is buying books and things like that when they can go to the library and save money, and with the gas prices who can afford to? So just wondering if anyone elses job has been effected by the gas prices and our economy????

Sorry about that. Pixies to you guys.
However, our Borders is always busy and people are still buying like they were last year. Last Saturday I was in a line of 15 people to check out.....

-HM

 

[tomthebarncat]

I feel the wrath every time I need gas. I commute 2-3 days a week for my job, so this is cutting into my paycheck! My DH bought me my dream car two years ago for my birthday. I love my car but have now come to the conclusion that a Mercedes Benz E class is not good value for euro. It has a V8 engine that stops for a drink at every station! the dealer has now started keeping cars in the bay while they wait for parts, this way they can charge me 62 euros per hour, while doing absolutely nothing. I can't really sell it as it is a gas pig and the dealers lot is full of these expensive cars. Anyway, I see a mini cooper or VW Polo in my future!! and DH can have his gift back!! I will take practicality and efficiency over luxury any day! As a realist I am always thinking that things will get worse before they get better. Cheers!

 

[Tinker'n'Fun]

DH and I feel blessed. He was laid off for 3 years prior to last November. He is a printer by trade and this field is being "outsourced" to copy machines. His current boss owns a small company that still offers small print jobs. His boss is very open and honest with him. Even though the pay is not what we were expecting it is a way more than nothing. We found an outside source for insurance for the kids and he can gets a small health insurance plan from his work. We budgeted all the changed in even before his first paycheck.

Now don't get me wrong, we are struggling just like everyone else. We live paycheck to paycheck and as of now our retirement fund is well "on vacation". I hope to start contributing when the storm passes over. We have a roof over our heads, food on the table (so what if it isn't gourmet), clothes on our backs, and the bills get paid somehow each month.

My prayers our with everyone that we will get through this together!

 

[mrsbornkuntry]

Is your DH looking at federal jobs, not just private sector? He should have veteran's preference when it comes to hiring which may give him that extra "nudge" over other candidates. Not all Agencies are as veteran friendly hiring (and some go out of their way to circumvent the veteran's preference rules) but it's a thought. Also--depsite any rumours you may hear --he will NOT get rich working for the govt but will have some pretty good benefits.

Check out http://jobsearch.usajobs.gov/veteranscenter/ and www.usjobs.opm.gov

Dh does what a federal job or an active National Guard position so he doesn't lose his retirement, he isn't getting out because of pay, we're actually pretty comfortable right now. I will definitely foward those websites to him, thanks for pointing us in that direction. I didn't realize there were veteran's preference rules, that's slightly encouraging.

 

[JoanneNC]

DH is in the Army and will be receiving a very large bonus this summer to extend for 5 years past retirement date. Despite the marketable skills he has and the possible civilian/federal job offers - this deal just was too good to pass up and the stability through this downturn is priceless.

I like everyone else, hope its starts turning up soon

 

[mrsbornkuntry]

DH is in the Army and will be receiving a very large bonus this summer to extend for 5 years past retirement date. Despite the marketable skills he has and the possible civilian/federal job offers - this deal just was too good to pass up and the stability through this downturn is priceless.

I like everyone else, hope its starts turning up soon

I'm not sure if this is directed at me or not, but none of those things are why he's getting out, this decision has been a long time coming and is really what is best for him and our family. There were alot of factors involved in our decision and honestly if we only looked at finances it would be foolish for him to get out.

 

[JoanneNC]

I'm not sure if this is directed at me or not, but none of those things are why he's getting out, this decision has been a long time coming and is really what is best for him and our family. There were alot of factors involved in our decision and honestly if we only looked at finances it would be foolish for him to get out.

Nope
In fact I hadn't read any replies after the first few on the first page.
Just mere timing on our posts..

However, I read back to see what your posts were and Good Luck - enjoy the civilan world

 

[MrsPooh]

Yes and no here as far as feeling the wrath of the economy. We had terribly rough years in 2005, 2006 and 2007. Our family had one business loss due to embezzlement, two job losses and three major illnessness. I was unable to work during most of that time and as a mortgage broker my dh's commission only pay dropped dramatically as the economy began to change. We used up all savings, have huge debts but, thanks to help from others, we were able to hold onto our home and one of our used vehicles.

We really learned how to barely scrimp by and sometimes live on almost nothing.

Thankfully, we are all now reasonably healthy and since the first of the year both dh and myself have found new, full-time jobs. Neither of us make nearly what we used to but at least we have income. My employer is having major cash-flow problems but is unlikely to ever close and I hold a rather key position so it is unlikely I'll be laid-off. I can see, however, that I may be asked to take a pay cut or go to part-time. Dh's employer is in a "business is booming" phase so we're hoping for some stability there. We'll be a long, long while paying off debt and building a savings.

The price increases along with our personal financial position have caused us to not even consider any extras.

 

[tfiga]

Yes, I was just reduced to 4 days a week, which is effectively a 20% pay cut. Ouch.

 

[mudnuri]

I graduate today with my respiratory therapy degree. The past 3 years we have lived with the bare minimum. I mean bare....I haven't had a full time paycheck in 3 years, working as a bartender or waitress to supplement my child support and student loans...

In a month, I will be making close to 6 times what I make now...BIG change for this family let me tell you. I can not wait to have to NOT rob peter to pay paul, and forget about Mary....thats the way I have lived!

I will say that in the past 5-6 months, the gas prices have seriously hurt given that i have done my clinical rotations 100 miles away from my house. My durango gets 12.5 mpg, but I'm so upside down, I cant trade it in, and nobody wants it anyway due to the size of the engine. The month of march, my truck 'cost' me $1500 to own, with a $300 payment, and $100 in insurance, that was $1100 in fuel costs.

Thank god DBF is an owner/operator and can make up the difference in my check book...not sure where i"d be without him...

I am so thankful that i decided 3 years ago to go back to school and enter the medical field! Yes, I am now in debt that i wasnt then, but its student loan debt, which to me is pretty good debt to have

Brandy

 

[mom2my3kids]

Last night my husband just bought a 01 Dodge Ram, he went to fill it up cost us 90.00 and it had a few gallons already in it.. Granted it will last him a couple weeks as he only drives it back and forth to work..

 

[mudnuri]

Last night my husband just bought a 01 Dodge Ram, he went to fill it up cost us 90.00 and it had a few gallons already in it.. Granted it will last him a couple weeks as he only drives it back and forth to work..

my 25 gallon tank in my durango is like that lasts me a couple days.....

 

[MrsPooh]

My minivan cost about $70 to fill and that lasts just over a week - I only drive 3 miles to work but running kids and weekend driving use the extra. DH has a large pickup so it uses more gas and doesn't hold all of us. As a result we always take the minivan.

 

[hhouse78]

Last night DH had to get our vehicle, that was empty, filled and he took along the gas cans to get gas for the mower. I think he got 10 gallons for the mower. I asked him how much was the bill. He said don't ask, but they limit you to $75/transaction and he had to do two transactions. I believe he got about 27 gallons. He did not remember the price, but it was $3.65 on Monday, so must be close to $3.90 by now.

 

[dvcgirl]

I graduate today with my respiratory therapy degree. The past 3 years we have lived with the bare minimum. I mean bare....I haven't had a full time paycheck in 3 years, working as a bartender or waitress to supplement my child support and student loans...

In a month, I will be making close to 6 times what I make now...BIG change for this family let me tell you. I can not wait to have to NOT rob peter to pay paul, and forget about Mary....thats the way I have lived!

I will say that in the past 5-6 months, the gas prices have seriously hurt given that i have done my clinical rotations 100 miles away from my house. My durango gets 12.5 mpg, but I'm so upside down, I cant trade it in, and nobody wants it anyway due to the size of the engine. The month of march, my truck 'cost' me $1500 to own, with a $300 payment, and $100 in insurance, that was $1100 in fuel costs.

Thank god DBF is an owner/operator and can make up the difference in my check book...not sure where i"d be without him...

I am so thankful that i decided 3 years ago to go back to school and enter the medical field! Yes, I am now in debt that i wasnt then, but its student loan debt, which to me is pretty good debt to have

Brandy

Good for you Brandy! That's a huge swing financially for your family and that's a great feeling. With a much bigger salary you'll pay those student loans off in no time!

As for the SUV, we're in the same position. Well, ours has long been paid for, but it's a 97 4-Runner and I'm averaging 16 mpg these days. Still, it's worth only a few grand even if we could sell it. The temptation is great to just run out and buy a Priu. That car would save me about 2 grand a year in fuel expenses. As great as that sounds though, financially it still doesn't make sense. And so if we take the 23K from our car fund and run out to buy that Prius the break-even is pretty far off.....because our current SUV is paid in full.

However, when I'm forced to buy a new car, undoubtedly that car will be a hybrid.

 

[bdcp]

I had never owned an SUV until a year and a half ago. I had always driven a minivan which gets about 4-5 miles/gallon more. I refused to buy an SUV until I knew I could afford to put gas in it even if it hit $5/gallon or more so I delayed the gratifcation. The economy hasn't really affected us but I work for the Federal Government (very recession proof) and my DH is a contractor/consultant to the Fed Government, also pretty recession proof. He's been doing the same work for 21 years and has never been out of a job. I just wish interest rates were in line with the prime rate and what banks charge each other. We're responsible but we have to pay for everyone who wasn't. The majority of defaults are not because people lost jobs and can't pay their mortgages, they are because people took loans they really couldn't afford and are blaming the mortgage industry for it. We've had ARMS, but we also never took one that we couldnt' afford even if it hit the max interest rate.

 

[rentayenta]

We are feeling the effects and will continue to do so. Not only have we lost a bundle in our retirement stocks and investments, the price of fuel is killing us.


I haven't noticed an increase in our grocery bill like some others but I have noticed the shelves are bare in some of the stores.

 

[mom2my3kids]

my 25 gallon tank in my durango is like that lasts me a couple days.....

That is crazy and I thought that was bad..