FOX 5 MONEY

[Anonymous]

Anonymous wrote:Here is the best thing I've ever tried....Going to TARGET just ONCE a month, instead of every weekend! It's so hard to go to TARGET and NOT to buy things that are not on my list! It's too tempting to buy things that I don't need, but I want to have....Ever since I've stopped going to TARGET as often as I used to, I've been saving at least $300 a month!

That isn't a bad idea! I go to Target, at least, 3 times a week. Do you buy a lot of the same stuff to stock up for the month? Example, baby wipes, shampoo. I love Target, can't get myself to go to Walmart, it's so crowded and dirty. I spend so much money there-so I think I'll try your approach. It's just I have to get cat litter, baby stuff, my stuff-I'll have to get organized and figure out what and how much we use of a product on a monthly basis.

[Anonymous]

We were pretty well off last fall. DH works PT, I am a SAHM. Since then, we've lost about 1M in investments; and zillow says the value of our house is down 5% from where we bought it it 2006. And our accountant has us paying about 200K in taxes this year. Ugh.

That said, it hasn't made much of an impact on everyday things. (We have never lived above our means anyway.) We still hire a sitter & go on dates once a week, shop for organic produce, get clothes etc as needed, get the car washed, send our DS to private Montessori PS and will send him to summer camp(s). I continue to do all housekeeping and basic home maintenance myself. We live close enough to walk/Metro to most places that we need to go, and tend to walk a lot.

But the bigger things are giving us pause. Originally, our home improvement budget was 50-75K for this year, to include some window replacement, basement renovation and landscaping. We're now doing 20K of windows, but have decided to clear out and paint the basement ourselves and shelve serious landscaping plans until later.

We had originally scheduled a 2-week trip to Spain, 1-week in New England and 2-weeks in the Caribbean. We're keeping Spain (mostly because of non-refundable deposits) and scrapping New England and one of the Caribbean trips.

Not exactly a story to cry over, and I'm not asking for it. But, I have to think that it won't only be the housing market that suffers, but home rennovation, retail and travel industries, if others are cutting back as well.

[Anonymous]

1220 poster - the 1227 read my mind, but I understand your reply. However, why doesn't your husband work at night? That would be extra income. Or give up school to eliminate daycare costs?
...sorry to hear your down on your luck.

[Anonymous]

Anonymous wrote:My husband and I went out to a nicer Italian restaurant last weekend and from the crowd of people in there dining and drinking, one would never guess that the economy had tanked. I think the down-turn is pretty strongly industry specific.

You'd never know it from the way we live! And I am not happy about it. My DH does well in his job - but we aren't saving. We eat out ALL the time and at very expensive restaurants - we have 2 very expensive cars which I am ashamed of (SUV is one), we have 2 kids in private school in DC, we go on very expensive vacations, we spend way too much at the grocery store. All this is my DH - he doesn't think it can affect us - maybe it won't...like I said he does well. But it sickens me to see the $$$ flying out the window. We have no savings (no debt either) but live paycheck to paycheck with this lifestyle. I would gladly give a lot of it up - if I had a say!

[Anonymous]

Anonymous wrote:

I shouldn't write this...but husband can't wait for gas to be over $4 a gallon. He's sick of all the big SUVs on the road-which he claims are status symbols anyway. I've heard co-workers complain about how much gas costs and how much more they're spending a week on gas-well-you have a husband, one child, and you're driving a Jeep Commander, which only gets 13 miles a gallon, and your commute is 45 miles each way. And you want me to feel sorry for you. Europeans have to drive small cars, gas costs too much. Or they walk, or take public transportation.

We're a wasteful country. It makes me sick. The big house, the big car-for what? So your neighbors think you have it all? But then your mortgage payment goes up because you got an interest only loan, or an 80/20 with high interest rates, just so you can have that big house, that you really can't afford-I do not and will not ever feel sorry for these people. Do you think Warren Buffet lives like he has billions of dollars...the second richest person in the world? Nope. We live in a 1900 sq. ft. house-2 adults, a toddler, a dog, and 2 cats. And guess what, we're not ashamed and we love our home. It's time everyone wake up, and live within their means. I know bad stuff happens to really good people-I'm talking about the people who want everyone else to think that they're the richest family on the block. I know quite a few people that believe and live like that, and they're getting burned. But when a job loss or illness strikes, I'd give the shirt off my back.

DH and I completely agree with your husband. The US is lucky to have such inexpensive gasoline compared to other countries, and yet people just use it so wastefully. Those big SUVs / Hummers are disgusting! Even if you can afford one, how has it become a status symbol to waste gas and pollute the environment?

We're hoping for the $4/gallon gas also. Maybe it'll start a change in people's mindset about wasting the earth's resources.

[Anonymous]

When I was in London a couple of years ago, a gallon of gas was $6! And we cry when gas is $3.20 a gallon. And I too, ask myself, when did the big SUVs become such a status symbol? Especially if you can't afford it when gas prices go up. I have a child, and want the world to be a better place, that everyone plays their part if helping the environment. When you have children, how could you NOT think about the environment?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My husband and I went out to a nicer Italian restaurant last weekend and from the crowd of people in there dining and drinking, one would never guess that the economy had tanked. I think the down-turn is pretty strongly industry specific.

You'd never know it from the way we live! And I am not happy about it. My DH does well in his job - but we aren't saving. We eat out ALL the time and at very expensive restaurants - we have 2 very expensive cars which I am ashamed of (SUV is one), we have 2 kids in private school in DC, we go on very expensive vacations, we spend way too much at the grocery store. All this is my DH - he doesn't think it can affect us - maybe it won't...like I said he does well. But it sickens me to see the $$$ flying out the window. We have no savings (no debt either) but live paycheck to paycheck with this lifestyle. I would gladly give a lot of it up - if I had a say!

Are you a SAHM? Or do you have an income? Why do you have no say? What if something happens to your husband or he loses his livelihood?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My husband and I went out to a nicer Italian restaurant last weekend and from the crowd of people in there dining and drinking, one would never guess that the economy had tanked. I think the down-turn is pretty strongly industry specific.

You'd never know it from the way we live! And I am not happy about it. My DH does well in his job - but we aren't saving. We eat out ALL the time and at very expensive restaurants - we have 2 very expensive cars which I am ashamed of (SUV is one), we have 2 kids in private school in DC, we go on very expensive vacations, we spend way too much at the grocery store. All this is my DH - he doesn't think it can affect us - maybe it won't...like I said he does well. But it sickens me to see the $$$ flying out the window. We have no savings (no debt either) but live paycheck to paycheck with this lifestyle. I would gladly give a lot of it up - if I had a say!

Are you a SAHM? Or do you have an income? Why do you have no say? What if something happens to your husband or he loses his livelihood?

I would definitely let him know your concerns. And rightly so! We have a family member who just lost his job, got another job paying much less, and has to yank his children out of private school. And sell their horse! I'd encourage him to start socking $$$ away.

[Anonymous]

I am the PP Flame me if you want - it's not fun - but what can I do? We have a lot - but I worry about the future. He tells me not to worry. He came to this country with nothing and has educated himself and works in a high paying career - he has always managed to get ahead and thinks he will continue to do so.....

[Anonymous]

Husband takes a scooter to work and I take the old gas efficient car cuz gas is painful

Three Brothers instead of a nicer restaurant AND we have a strict "restaurant budget" of 200.00 per month for family of 4. if we blow it in one go, then no more for the month.

calculator while grocery...grocery is really what is killing us, 27% increase YOY and I buy literally the exact same thing week after week...I can grocery in 25 minutes.

Potty training DD so we can remove 1200 a year in diapers

quit smoking

no more starbucks, unless we are "family day at the zoo" or something

consignment clothes for kids, one suit a year for DH and I

My friends and I kind of "co-errand"...we definitely call around to see who needs what.

no more lunches at work during nice weather - we pack our own.

no more skeet-shooting (this was the one fun thing DH did...gone)

only free museums

make my own house cleaning gunk - don't buy anymore

cut my laundry and dish detergent "portion" in half

line dry sheets, jeans, towels, big stuff

no more Target as a way to kill time...

no more birthday / holiday gifts for family unless they are under 16.

[Anonymous]

Anonymous wrote:I am the PP Flame me if you want - it's not fun - but what can I do? We have a lot - but I worry about the future. He tells me not to worry. He came to this country with nothing and has educated himself and works in a high paying career - he has always managed to get ahead and thinks he will continue to do so.....

If you are the 7:27 poster, you are rightly concerned. It sort of sounds like your husband is just living for the day. Does he at least have life insurance? At the least, he should consider some kind of safety net for the kids, whether it's life insurance or a little savings.

[Anonymous]

Anonymous wrote:We were pretty well off last fall. DH works PT, I am a SAHM. Since then, we've lost about 1M in investments; and zillow says the value of our house is down 5% from where we bought it it 2006. And our accountant has us paying about 200K in taxes this year. Ugh.

That said, it hasn't made much of an impact on everyday things. (We have never lived above our means anyway.) We still hire a sitter & go on dates once a week, shop for organic produce, get clothes etc as needed, get the car washed, send our DS to private Montessori PS and will send him to summer camp(s). I continue to do all housekeeping and basic home maintenance myself. We live close enough to walk/Metro to most places that we need to go, and tend to walk a lot.

But the bigger things are giving us pause. Originally, our home improvement budget was 50-75K for this year, to include some window replacement, basement renovation and landscaping. We're now doing 20K of windows, but have decided to clear out and paint the basement ourselves and shelve serious landscaping plans until later.

We had originally scheduled a 2-week trip to Spain, 1-week in New England and 2-weeks in the Caribbean. We're keeping Spain (mostly because of non-refundable deposits) and scrapping New England and one of the Caribbean trips.

Not exactly a story to cry over, and I'm not asking for it. But, I have to think that it won't only be the housing market that suffers, but home rennovation, retail and travel industries, if others are cutting back as well.

This has got to be a joke

[Anonymous]

Anonymous wrote:1220 poster - the 1227 read my mind, but I understand your reply. However, why doesn't your husband work at night? That would be extra income. Or give up school to eliminate daycare costs?
...sorry to hear your down on your luck.

Really, don't feel sorry for me. It really isn't that bad, it just isn't the life we were living before. We were smart and saved, it's just the Cobra care that is killing us.

He can't give up school, he goes at night, interviews during the day, and does other appointments then too. He is networking all day long, something he couldn't do if he had the kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We were pretty well off last fall. DH works PT, I am a SAHM. Since then, we've lost about 1M in investments; and zillow says the value of our house is down 5% from where we bought it it 2006. And our accountant has us paying about 200K in taxes this year. Ugh.

That said, it hasn't made much of an impact on everyday things. (We have never lived above our means anyway.) We still hire a sitter & go on dates once a week, shop for organic produce, get clothes etc as needed, get the car washed, send our DS to private Montessori PS and will send him to summer camp(s). I continue to do all housekeeping and basic home maintenance myself. We live close enough to walk/Metro to most places that we need to go, and tend to walk a lot.

But the bigger things are giving us pause. Originally, our home improvement budget was 50-75K for this year, to include some window replacement, basement renovation and landscaping. We're now doing 20K of windows, but have decided to clear out and paint the basement ourselves and shelve serious landscaping plans until later.

We had originally scheduled a 2-week trip to Spain, 1-week in New England and 2-weeks in the Caribbean. We're keeping Spain (mostly because of non-refundable deposits) and scrapping New England and one of the Caribbean trips.

Not exactly a story to cry over, and I'm not asking for it. But, I have to think that it won't only be the housing market that suffers, but home rennovation, retail and travel industries, if others are cutting back as well.

This has got to be a joke

I certainly don't think it's a joke. We all lead very different lives.

[Anonymous]

Not different lives, different priorities in lives, I think.