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RE: The crunch ? - 10/20/2008 6:59:17 AM

rexrgisformidoni

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quote:

ORIGINAL: LaTigresse

pahunk, even though my retirement money has dropped in the last quarter, I did some investigating this weekend. I looked at the total $ I have put into it and what I have now.

The reality is even though it has gone down, I still have far more than I put in. So, I will not only continue to add to it, I am adding more.

As for when this will end, I don't think anyone can accurately give a good time frame.

Myself, I have continued to pay off debt. Living frugally. Putting myself in a place that I could survive with alot less $$ if I have to.

Living frugally is going to save alot of people alot of pain. I haven't used a credit card in years, if I can't afford it, then I don't need it. My car is my only real payment besides random doctor bills and the basics. And I put whatever I can in savings.

_____________________________

when all you have is a hammer, everything begins to look like nails

“I am the punishment of God...If you had not committed great sins, God would not have sent a punishment like me upon you.”

Genghis Khan

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RE: The crunch ? - 10/20/2008 7:07:26 AM

tweedydaddy

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Two years, that is how long the banks will take to get back to normal.
The easy way to get through the recession is to limit your spending and maximise your cash, which will buy a great deal more. I'm already loving it.
Did I say you have to unload any credit debts as soon as possible?
Interest rates will go up fast in the next few months, they will eat a chunk out anyone's spending money that hasn't seen the train coming.
Beware when people talk about lowering interest rates, it's a dumb play and they will hike them up again sharply.
I saw the credit crunch and the recession coming two years ago and warned everybody to unload their overpriced houses and pay off their loans and finance deals, the result, was that I did and now my friends mostly look like moving.

I'm riding this one out with my money primed for a new house when prices hit rock bottom. When interest rates go up, it won't be a problem for me.

(in reply to Aneirin)

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RE: The crunch ? - 10/20/2008 7:36:52 AM

Aneirin

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From: Tamaris
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I live on a cash only basis, no credit, the same if I can't afford it, I don't get it. Stuff I need is sourced second hand, either broken or ok, if broken, I repair it. Food well, tinned food is cheap and long life, and all I need to do now, is purchase a road legal car, so I can get the food cheaper and in bulk

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Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

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RE: The crunch ? - 10/20/2008 8:06:14 AM

Musicmystery

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And as long as you never lose a job, never get sick, never fall victim to theft or disaster, and never retire, you'll do just fine.

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RE: The crunch ? - 10/20/2008 8:15:03 AM

Aneirin

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Living in my part of the world, by the sea and wild wood and moor land, I also fish and forage. Sea lettuce is wonderful, highly nutritious and plentyful. I have not tried the wrack weed yet, but rock limpets are ok and plentiful. I see no reason to starve, our ancestors lived off what they could find, we can too.

_____________________________

Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

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RE: The crunch ? - 10/20/2008 8:21:43 AM

rexrgisformidoni

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quote:

ORIGINAL: Aneirin

Living in my part of the world, by the sea and wild wood and moor land, I also fish and forage. Sea lettuce is wonderful, highly nutritious and plentyful. I have not tried the wrack weed yet, but rock limpets are ok and plentiful. I see no reason to starve, our ancestors lived off what they could find, we can too.

Living off the land is pretty easy I think. Like you said our ancestors did it, so some of us still can too.

_____________________________

when all you have is a hammer, everything begins to look like nails

“I am the punishment of God...If you had not committed great sins, God would not have sent a punishment like me upon you.”

Genghis Khan

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RE: The crunch ? - 10/20/2008 8:24:46 AM

bipolarber

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Everything will be just fine on 08-22-11. Please plan your life accordingly.

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RE: The crunch ? - 10/20/2008 8:26:37 AM

Aneirin

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It could even be, this life we have of centralised food production was doomed to failure, as with centralised anything, it is an item that can be controlled and with food controlled the populace is controlled.

We have land and sea, food can be got.

_____________________________

Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

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RE: The crunch ? - 10/20/2008 8:31:05 AM

rexrgisformidoni

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quote:

ORIGINAL: Aneirin

It could even be, this life we have of centralised food production was doomed to failure, as with centralised anything, it is an item that can be controlled and with food controlled the populace is controlled.

We have land and sea, food can be got.

amen. I know I'd be hungry for a few days, but then I'd get my grove back.

_____________________________

when all you have is a hammer, everything begins to look like nails

“I am the punishment of God...If you had not committed great sins, God would not have sent a punishment like me upon you.”

Genghis Khan

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RE: The crunch ? - 10/20/2008 10:25:30 AM

popeye1250

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I'm in pretty good shape financially, I have a good income and my mortgage is only $618 per month on a 30 fixed for this condo.
The one luxury I allow myself is a new Lincoln MKS which costs me $454 per month.
I save money each month and I have little credit card debt.
One credit card is from my bank and I have a very good credit rating so it only costs me 8.57%.
I'll also be looking at the housing market in a year or two and if I can find some good deals I (may) buy a house.
I might look at "bank owned" houses.
It's important to have some money put aside in times like this not only for survival but to be able to take advantage of good deals that (always) come up like houses, stocks and bonds in this type of climate.
You should also keep your credit card balances low or payed off if they charge you a high rate of interest.

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RE: The crunch ? - 10/20/2008 10:43:40 AM

rexrgisformidoni

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um...ok.
random days of the week...ok
I am waiting for 12-31-12

_____________________________

when all you have is a hammer, everything begins to look like nails

“I am the punishment of God...If you had not committed great sins, God would not have sent a punishment like me upon you.”

Genghis Khan

(in reply to bipolarber)

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RE: The crunch ? - 10/20/2008 11:11:37 AM

Aneirin

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Ah, but with this banking disaster, it would worry me if I had money tied up in the world of finance, like it has been proven the financiers didn't know what they were doing once, who says they have learned their lesson. If I had cash to put away, I certainly would not trust banks, but if I had the funds, buy something that cannot be taken a way, land for example, either that or gold bullion, paint it brick colour and replace a few bricks in the house with it, maybe the wall outside even, cement over it.

_____________________________

Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

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