View Poll Results: What is your financial situation?
Have money, but don't want to spend!
29
31.18%
Don't have money to spend!
24
25.81%
Owe money!
28
30.11%
What slow down?
12
12.90%
Voters: 93. You may not vote on this poll
What is your financial situation? And what do you think about the economy?
02-18-2009, 11:41 AM
#1
Former Vendor
Thread Starter
iTrader: (52)
Join Date: Nov 2002
Location: San Jose, CA
Posts: 6,912
Car Info: Evo X
What is your financial situation? And what do you think about the economy?
So, other than the poll above, I would also like to see what everyone is thinking in term of the economy...
Age: 28
Occupation: Engineering/Business Owner
Prediction on Recovery: Don't really have anything to base this on... but from the 'media', I tend to think late this year or early next year.
NOTE: Prediction on recovery doesn't mean a recovery, but pretty much when we hit the dead bottom and start coming backup. I think it'll take YEARS for the recovery to complete.
Age: 28
Occupation: Engineering/Business Owner
Prediction on Recovery: Don't really have anything to base this on... but from the 'media', I tend to think late this year or early next year.
NOTE: Prediction on recovery doesn't mean a recovery, but pretty much when we hit the dead bottom and start coming backup. I think it'll take YEARS for the recovery to complete.
02-18-2009, 11:50 AM
#2
Registered User
iTrader: (1)
Join Date: Dec 2002
Location: Monterey Bay, Ca
Posts: 1,138
Car Info: WR Blue Wagon
I have a decent job that I feel reasonably secure in. Same with my wife.
I'm not making any less money than I was before all this started. So would have no reason to do anything different.
But I found out the wife had run up the credit cards kinda stupid. So now we've cut back on spending and started getting the cards paid down. I had no idea that she was keeping the economy going because as soon as she stopped spending, everything went to hell
So for now, yeah I've cut back, but at this point, I'm more concerned for some of my friends and how they're going to get through this. At least a few of them have been laid off and a coupld others are teetering on the brink of financial disaster.
I'm not making any less money than I was before all this started. So would have no reason to do anything different.
But I found out the wife had run up the credit cards kinda stupid. So now we've cut back on spending and started getting the cards paid down. I had no idea that she was keeping the economy going because as soon as she stopped spending, everything went to hell
So for now, yeah I've cut back, but at this point, I'm more concerned for some of my friends and how they're going to get through this. At least a few of them have been laid off and a coupld others are teetering on the brink of financial disaster.
02-18-2009, 11:57 AM
#4
plays well with others
iTrader: (1)
Join Date: Aug 2006
Location: Sac
Posts: 9,923
Car Info: your mother crazy
Age 24
tech support / undisclosed
prediction on recovery: we'll see in April once bailout money starts coursing through our economy. without some kind of change in the housing market the economy will not improve because of the negative effects on the consumer psyche
tech support / undisclosed
prediction on recovery: we'll see in April once bailout money starts coursing through our economy. without some kind of change in the housing market the economy will not improve because of the negative effects on the consumer psyche
02-18-2009, 11:58 AM
#5
30
I kinda have money to spend, but kinda don't.
I developed chronic ulcerative colitis last year, and was off many many months on state disability. I normally worked in accounting in pleasanton.
I lost my accounting job officially at the beginning of December since I was gone so long and they really needed somebody to do the job. Wasn't laid off or fired, but it's considered "voluntarily quit."
Luckily I'm on state disability instead of unemployment, which is almost the same thing since it comes from the same place. Only with SDI, it's a benefit and is non taxed, so I don't have to claim it as income on this years taxes
I'll be on SDI for at least several more months.
and I've been dumping almost all of the $$$ towards my car loan, so it'll be paid off later this year
I just hope when I'm able to return to mon-fri 7a~ to 5p~ that I'll be able to find work. I plan on going to the same temp agency since I used to work for Robert Half anyway.
the economy isn't really affecting me right now, but we'll see what happens when I go to return to work
I kinda have money to spend, but kinda don't.
I developed chronic ulcerative colitis last year, and was off many many months on state disability. I normally worked in accounting in pleasanton.
I lost my accounting job officially at the beginning of December since I was gone so long and they really needed somebody to do the job. Wasn't laid off or fired, but it's considered "voluntarily quit."
Luckily I'm on state disability instead of unemployment, which is almost the same thing since it comes from the same place. Only with SDI, it's a benefit and is non taxed, so I don't have to claim it as income on this years taxes
I'll be on SDI for at least several more months.
and I've been dumping almost all of the $$$ towards my car loan, so it'll be paid off later this year
I just hope when I'm able to return to mon-fri 7a~ to 5p~ that I'll be able to find work. I plan on going to the same temp agency since I used to work for Robert Half anyway.
the economy isn't really affecting me right now, but we'll see what happens when I go to return to work
Last edited by Rescuer; 02-18-2009 at 02:21 PM.
02-18-2009, 12:15 PM
#6
Registered User
iTrader: (25)
Join Date: Jan 2004
Location: san francisco
Posts: 2,325
Car Info: 2008 Forester XT 5spd
Age: 30+ ! 
Occupation: Digital Texture Artist, Tippett Studio
Prediction on Recovery: I'm skeptical about everything, maybe in a bad way, maybe in a good way. All I know is I need to take care of my family. So first things first, by years end I'd like to get out of any remaining debt (except the house), refinance the home with a lower interest rate (waiting for low 4's) . I feel like the housing market will need incentive for buyers and with a stimulus + continued job losses hopefully mortgage rates will continue to drop. Wife is a PT at a hospital. I'm good for work at least till Sept. Who knows though, even when situations seem to be going well I've seen those situations flip so fast, and before you know it people are unemployed and didn't even see it coming (sniper style). Just want to be prepared for when the storms come, and if it doesn't come then I'll be in an even better financial situation. This is definitely the push I need to get my Shiz straight.
Rescuer: A good buddy of mine has chronic ulcerative colitis, dude, not fun! Sorry to hear about that one, sucks bro!
Occupation: Digital Texture Artist, Tippett Studio
Prediction on Recovery: I'm skeptical about everything, maybe in a bad way, maybe in a good way. All I know is I need to take care of my family. So first things first, by years end I'd like to get out of any remaining debt (except the house), refinance the home with a lower interest rate (waiting for low 4's) . I feel like the housing market will need incentive for buyers and with a stimulus + continued job losses hopefully mortgage rates will continue to drop. Wife is a PT at a hospital. I'm good for work at least till Sept. Who knows though, even when situations seem to be going well I've seen those situations flip so fast, and before you know it people are unemployed and didn't even see it coming (sniper style). Just want to be prepared for when the storms come, and if it doesn't come then I'll be in an even better financial situation. This is definitely the push I need to get my Shiz straight.
Rescuer: A good buddy of mine has chronic ulcerative colitis, dude, not fun! Sorry to hear about that one, sucks bro!
02-18-2009, 12:33 PM
#7
Hurray, it's Ian!!
iTrader: (4)
Join Date: Oct 2003
Location: on an airplane
Posts: 3,612
Car Info: 2002 MBP WRX Sedan
age:24
occupation: sales manager
had some money saved but ran into car troubles =(. so now I have like no money saved lol. but hopefully no more random expenses and I can start saving again. soooo tempted to pull money out of 401K but I'm holding off. have cut back on lots of spending...maybe I go waste money on ammo and at the shooting range maybe 1-2 times a month instead of 1-2 times a week. trying to stay home as much as I can. thank god video games are a 1-time investment for hours of mindless fun. lol
prediction on recovery: at least another year before we hit rock bottom. maybe 2-4 years before we start the recovery process at all.
good news: my dad is offering to pay off my CC debt in one shot and I just pay him with no interest...I might have to take that but I hate asking for favors.
occupation: sales manager
had some money saved but ran into car troubles =(. so now I have like no money saved lol. but hopefully no more random expenses and I can start saving again. soooo tempted to pull money out of 401K but I'm holding off. have cut back on lots of spending...maybe I go waste money on ammo and at the shooting range maybe 1-2 times a month instead of 1-2 times a week. trying to stay home as much as I can. thank god video games are a 1-time investment for hours of mindless fun. lol
prediction on recovery: at least another year before we hit rock bottom. maybe 2-4 years before we start the recovery process at all.
good news: my dad is offering to pay off my CC debt in one shot and I just pay him with no interest...I might have to take that but I hate asking for favors.
02-18-2009, 01:20 PM
#8
Registered User
iTrader: (5)
Join Date: Oct 2007
Location: San Jose, CA
Posts: 1,146
Car Info: 2006 WRX wagon
Age 29
Occupation: Engineer
Economic recovery will happen when people start living within their means. I agree that lenders were deceiving in their practices, but it starts with people wanting more than they can afford. People also need to save more for times such as now ( 6 month buffer to live off of) and now would be the time to go back to school (if you lost your job) even if it means getting loans to bump up your skill set.
Occupation: Engineer
Economic recovery will happen when people start living within their means. I agree that lenders were deceiving in their practices, but it starts with people wanting more than they can afford. People also need to save more for times such as now ( 6 month buffer to live off of) and now would be the time to go back to school (if you lost your job) even if it means getting loans to bump up your skill set.
02-18-2009, 01:39 PM
#9
31. Graphic Designer/Production artist
I got hit with this turn back a long time ago as I worked in the corporate world and they started it with outsourcing. I took about a 40% pay cut followed by a layoff and 8 months out of work. Basically trying to cut down on spending and chop our debt down as much as possible. We're looking to move into a new place in a couple months. As for recovery. I don't see us hitting bottom yet and I don't see any kind of TRUE solid upturn for at least 2 years. Maybe more. This country was living in dotcom dreamland and it had to bust sooner or later. We were WAY overinflated and the big money guys got away with way too much and way to many no money people took out way too much credit. Same thing that led to the great depression. So I'm not surprised. And we don't have REAL wars or industrialization to save our *** this time so upturn could take a lot longer. Sure as **** isn't gonna solved by giving everyone $400 to pay bills with.
I got hit with this turn back a long time ago as I worked in the corporate world and they started it with outsourcing. I took about a 40% pay cut followed by a layoff and 8 months out of work. Basically trying to cut down on spending and chop our debt down as much as possible. We're looking to move into a new place in a couple months. As for recovery. I don't see us hitting bottom yet and I don't see any kind of TRUE solid upturn for at least 2 years. Maybe more. This country was living in dotcom dreamland and it had to bust sooner or later. We were WAY overinflated and the big money guys got away with way too much and way to many no money people took out way too much credit. Same thing that led to the great depression. So I'm not surprised. And we don't have REAL wars or industrialization to save our *** this time so upturn could take a lot longer. Sure as **** isn't gonna solved by giving everyone $400 to pay bills with.
02-18-2009, 02:07 PM
#10
Registered User
iTrader: (3)
Join Date: Mar 2008
Location: Upper North Bay
Posts: 6,967
Car Info: '15 LE STI, '06 WRX White Wheeled Wagon, '06 B9
Age:26 Sales Supervisor
I am pretty confident the company I work for has their **** together. My wife also works a semi-solid job. She works for the state thats why i say semi. I am just rollin witht he punches right now.
As far as recovery goes. I dont know a lot about any one thing economically speaking, but I know a little about a lot of things. I dont think we will hit rock bottom, however i dont see things turning uphill until the end of the year. and probably another year after that til we can all breathe again. I would hope things go faster btu I dotn want us to get ****ed again in another 10 years so slow and steady is probably the best way.
I am pretty confident the company I work for has their **** together. My wife also works a semi-solid job. She works for the state thats why i say semi. I am just rollin witht he punches right now.
As far as recovery goes. I dont know a lot about any one thing economically speaking, but I know a little about a lot of things. I dont think we will hit rock bottom, however i dont see things turning uphill until the end of the year. and probably another year after that til we can all breathe again. I would hope things go faster btu I dotn want us to get ****ed again in another 10 years so slow and steady is probably the best way.
02-18-2009, 03:30 PM
#11
Registered User
iTrader: (6)
Join Date: Aug 2005
Location: san francisco, ca
Posts: 1,588
Car Info: 06 wrx wagon
Age: 25
Occupation: Investment Management Performance Analyst
Prediction on Recovery: It is interesting to look at your poll choices. Not one of them is "have money, willing to spend!". You might not have purposely left it out, but I think it says something about what we need: CONSUMER CONFIDENCE. We need something stable before we get out of this. Corporate earnings releases in April/May probably won't do anything for that. The media certainly doesn't help either.
I look at this stuff every day, at and away from work. My prediction is that there's too much uncertainty to give a prediction (=P), but i think it's a bare minimum of 6 months away before people start thinking there's a light at the end of the tunnel.
Occupation: Investment Management Performance Analyst
Prediction on Recovery: It is interesting to look at your poll choices. Not one of them is "have money, willing to spend!". You might not have purposely left it out, but I think it says something about what we need: CONSUMER CONFIDENCE. We need something stable before we get out of this. Corporate earnings releases in April/May probably won't do anything for that. The media certainly doesn't help either.
I look at this stuff every day, at and away from work. My prediction is that there's too much uncertainty to give a prediction (=P), but i think it's a bare minimum of 6 months away before people start thinking there's a light at the end of the tunnel.
