[quote name='Sarang01']Yeah it's cool. We need to free up more cash then even take control our own way. We can win, we just gotta keep trying. Can't let these motherers 1984 us. the Real ID Act.[/quote]
I wouldn't be surprised with a French Revolution style thing eventually. Not necessarily heads on pikes (though with some of these jackass in power it would be nice).
[quote name='HumanSnatcher']I wouldn't be surprised with a French Revolution style thing eventually. Not necessarily heads on pikes (though with some of these jackass in power it would be nice).[/QUOTE]
I would hope these inbred gentiles who screw only in political families and call themselves Jews would feel Karma and redeem themselves. Truly if they were killed I couldn't feel entirely sorry because it would be Karma on them.
[quote name='Sarang01']Let's talk. www.konarka.com/ Check that website first.
I know how you feel about China but what's your driving like? If you only drive a little under 40 miles a day including work check here as well as everyone else in this thread. www.zappmotors.com/ It's time to assess the damage. Yes this car is made in China but do you want your financial freedom? It is like that OR...we start with our own car designs with making electric cars. We need to do both in some reasonable amount of time or we're screwed and the gate will close. The gas crisis is their way of eventually crippling us to where we can move no more without government assistance pretty much.[/quote]Well, I do have a Prius. It's great on gas (that and the fact that I drive like an old granny keep the gas prices down). But I take care of my Mum and I prefer her to drive the reliable vehicle when she goes out by herself, because if she has a problem and I'm not with her, it'd be a huge disaster.
So I can get away with ditching the subaru entirely and not replacing it. But I'd *like* to have another vehicle. It's a luxury absolutely, I won't deny that fact. I just enjoy that luxury significantly.
If the economy were going gang busters with no problems seeable down the road, I'd take the money out of the investments and prolly buy a murano. With huge question marks in sight, I'm thinking that keeping things frugal is better. On the flip side of that, I don't know if taking the money out and buying something that could double in price in five or six years may be smarter. I don't know.
This is the problem. I talk with my planner, but she isn't a fortune teller. Times like this, I really wish my Dad were still alive because I could really use his council. Not that he was a fortune teller either, but it's nice to have someone you can go to with serious issues who you trust implicitly.
For all of you here especially the poster right above Gwen some steps can be taken short term to start to free up money. 1.Find the money to buy a Soy Milk maker. 2.Make Soy, Rice, Bean milk, etc. 3.Buy on the base. Buy Organic Flour, Beans, rice, etc. If you have to buy regular fruit and vegetables but get Organic seeds and grow them. If this isn't possible try to start a Community Greenhouse.
Basically go down to scratch in WHATEVER you cook. Ditch prepackaged meals, mixes, etc. Try to cut down on using canned stuff as well but that's jmo there.
I'm not big on the organic stuff, but I do prepare everything from scratch. That's more of a health decision than an economical one, though. Whole and natural foods are soo much better for you than prepared foods on so many levels. We also do like Sarah says with tomatoes and herbs. I can't grow much of anything outdoors these days because of the draught georgia has.
Tomatoes that start to get over-ripe and don't make their way into the days' salad get tossed in a bag in the freezer and every other week it's time for a big ole pot of chili. Again, I don't use pre-made chili seasoning or mixes, so I don't know the prices of that, but a bag of dried beans, a pack of lean ground turkey picked up on sale is $1 or $1.25 (stock up whenever a food staple is on sale), tomatoes, cumin, chili peppers, turmeric, et cetera... Under $5 for a dinner that stretches to lunch or dinner left overs for several days.
But I would love to try growning soy beans, that is a GREAT idea. I drink goats milk and/or soy milk. I wish I could drink regular cow milk, but I gots lactose issues.
If you still have cost or more issues there join a Wholesale Club and split costs with friends and split the quantities. After all every little bit helps.
Not a bad idea. Sams club has some decent prices on some items, but if you have the time to shop around you can beat them on several grocery items. Again, though that's if you have the time and don't mind going to more than one grocer.
Funny yer all talking about produce already. I just came back from a round at the grocery store, and those bullshit, non-organic, never-very-good-in-the-winter-anyway hothouse tomates?
A lot of produce will continue to go up in price this year. Lots to do with the crops in florida and the south and freezes. Also to do with a sort of reverse trickle-down-economy; gas/fuel/diesel prices way up, that means farm equipment is more expensive to run, that means packaging is more expensive, that means delivery prices are more expensive, that means the prices consumers have to pay are going up.
I'm generally a very optimistic person, but I can see that we're only barely holding off a recession or at the least a *significant* rise in all prices pretty soon.
Hey myke, check to see if you have any kind of farmers market or similar nearby. You may do much better.
[quote name='mykevermin']Funny yer all talking about produce already. I just came back from a round at the grocery store, and those bullshit, non-organic, never-very-good-in-the-winter-anyway hothouse tomates?
$4 a pound. For PRODUCE.[/QUOTE]
shit. Looks like I'll be stuck with the cafeteria for a while if food prices really are starting to skyrocket like that.
[quote name='guinaevere']A lot of produce will continue to go up in price this year. Lots to do with the crops in florida and the south and freezes. Also to do with a sort of reverse trickle-down-economy; gas/fuel/diesel prices way up, that means farm equipment is more expensive to run, that means packaging is more expensive, that means delivery prices are more expensive, that means the prices consumers have to pay are going up.
I'm generally a very optimistic person, but I can see that we're only barely holding off a recession or at the least a *significant* rise in all prices pretty soon.
Hey myke, check to see if you have any kind of farmers market or similar nearby. You may do much better.[/QUOTE]
It's a matter of laziness/alcoholism - the farmer's market is best on Saturdays between 6 and 8AM. That's the point in the morning where I'm still trying to figure out what in the hell my name was.
Not a good excuse, but an excuse nonetheless. I may check it out because they have awesome stuff there.
If regular boring produce is expensive, I wonder what the prices are like at my favorite place to go when I have $250 to blow, 5 hours, and a frothing desire to cook yer in' face off: http://www.junglejims.com/
I understand that produce is more than just handed over to Kroger from the farmer's underpaid illegal labor own personal hand, but I also think that the absurd, absurd price of regular goods will have a disastrous effect on the economy that not even $3.07 national average gas prices could cause.
The ultimate irony, of course, is that fresh, raw food is crazy expensive, yet Ragu spaghetti sauce was on sale for $1/jar - which inevitably leads to the question: just what is it that they put in the jars of sauce?
[quote name='mykevermin']It's a matter of laziness/alcoholism - the farmer's market is best on Saturdays between 6 and 8AM. That's the point in the morning where I'm still trying to figure out what in the hell my name was.
Not a good excuse, but an excuse nonetheless. I may check it out because they have awesome stuff there.
If regular boring produce is expensive, I wonder what the prices are like at my favorite place to go when I have $250 to blow, 5 hours, and a frothing desire to cook yer in' face off: http://www.junglejims.com/
I understand that produce is more than just handed over to Kroger from the farmer's underpaid illegal labor own personal hand, but I also think that the absurd, absurd price of regular goods will have a disastrous effect on the economy that not even $3.07 national average gas prices could cause.
The ultimate irony, of course, is that fresh, raw food is crazy expensive, yet Ragu spaghetti sauce was on sale for $1/jar - which inevitably leads to the question: just what is it that they put in the jars of sauce?[/quote]Probably whatever they bought that wouldn't sell whole. Kind of like sausage, they use parts that people probably wouldn't buy whole.
[quote name='mykevermin']It's a matter of laziness/alcoholism - the farmer's market is best on Saturdays between 6 and 8AM. That's the point in the morning where I'm still trying to figure out what in the hell my name was.[/quote]I thought they said that's the best time to go shopping. When you aren't hungry and can't read the shopping list.
If regular boring produce is expensive, I wonder what the prices are like at my favorite place to go when I have $250 to blow, 5 hours, and a frothing desire to cook yer in' face off: http://www.junglejims.com/
I understand that produce is more than just handed over to Kroger from the farmer's underpaid illegal labor own personal hand, but I also think that the absurd, absurd price of regular goods will have a disastrous effect on the economy that not even $3.07 national average gas prices could cause.
I don't know if it's one or the other or something else. I'm more of the mind that it's a cumulative sum total. Prices cross the board go up, people haven't saved a dime because they simply had to have that dvd, and their kids deserve fifty outfits for their important daily lives.
I'm turning cynical as I write this. Our society is so self-focused and we spend gobs of money on absolutely nothing. Feed a hungry village across the world? Sponsor the drilling of a well so a third-world town can have clean water instead of drinking from the same water the animals bathe and deficate in? Save your sermons honey, I'm overdue for a nail appointment.
I have a credit card bill I'm lazy about paying off, but I have my house almost paid off, I buy my cars with cash and I have significant savings/investments because I understand the concept of wants versus needs and I understand and accept the practice of sacrificing.
The ultimate irony, of course, is that fresh, raw food is crazy expensive, yet Ragu spaghetti sauce was on sale for $1/jar - which inevitably leads to the question: just what is it that they put in the jars of sauce?
I really haven't felt any negative effects. I work for the federal govt, so my job is never really at danger. Not saying it couldn't happen, but the chances are slim.
On a happier note, we should all realize that the economy works in cycles, and hitting a valley only means that a peak is on it's way. Hang onto those investments people! You never actually "lose" money until you sell.
I'm glad I have a regular job and I'm not temping. When the economy was in the shits years ago(when Bush first started office), I was doing temp jobs and that completely sucked ass. The agencies I was working for were not sending me anything and when they did, it was low-paying monkey work.
So I think I will weather this storm. It helps alot that I don't have a car this year and all my expensives (like gas, oil changes, auto repair) are a non-factor. I've been focusing on paying off my credit card debt this year. It was as high as $6,500 but now its down to $1,500. I figure I will have it completely paid off by September. So basically, I won't be Mr. Fun this year but thats ok..
I know George Bush wants to put through a stimulus package where there is a rebate cut for every American that pays taxes. Honestly, I would use that money to pay off my debt. I wouldn't buy anything retail...
I'm somewhat conflicted about the recession. At one end I am only 26, and am looking to buy a home and it is a great time to be a buyer.
OTOH, I have a one year judicial clerkship about to end in 6 mos. and I will be needing to find another job when that's over. I dunno how dependant the legal field is on the economy, probably slightly less that some fields and slightly more than others. Either way it is troublesome on a utilitarian scale.
Depressions come after recessions right? I just hope it hits bottom soon so it starts to swing back up.
I'm doing pretty good relatively speaking. I've been the boss of my own small real estate management company since college and I manage my properties through it. My small staff of 5 are all professionals in their respective fields of accounting, law, & business and we meet once a week to discuss & manage my company, my properties (as well as theirs since most of their properties are being managed by mine as well), & my other investments. No secretaries or PAs as one of us is always designated to take care of the minutes for the month and on rotation. My staff have their own personal PAs but only when it pertains to their own companies and, as such, aren't my employees so they have no significance to me economically speaking. My own secretary is the one who handles the remainder of tiny minutae needed to run my company. Most of the properties themselves are pretty much self-managed by a long-term resident and really only require my (company's) intervention when there are emergencies (flood, fire, domestic disturbance, insurance disputes, etc). The ones that aren't self-managed I subcontract to another firm I'm on good terms with. No dependents as I'm relatively young (i'm gonna be 31 this year) so I can still mess around. No school loans, my newest car was paid in cash. Plus, I have 2 startups I'm working on getting off the ground but I'm also using the same professional staff to set it up so I don't need to re-hire someone else. I don't buy anything on credit unless it's a big-ticket item like an investment property. I have a highly aggressive investment porfolio w/ a lot money not tied up to real estate in foreign investments, particularly precious metals & currencies. So yeah, I'm doing ok.
I've been doing well. I'm young but semi retired as the result of the sale of a small IT services company I had a piece of a few years ago.
I say semi-retired because I run a financial services partnership, that several family members and close friends are a part of, in which I actively trade equities and S&P futures contracts. The increased volitility in the markets over the past 6 months has really been fantastic for me in terms of trading opportunities.
Profits are distributed to partners on a monthly basis, minus a % based fee that I collect for managing the money from each partner in addition to the profits off of my own investment capitial. I've been an active trader for the past 15 years but have only been running this partnership for the past 3 years, but during that 3 years I have only had 3 months that did not generate profits.
Due to the increased risk of my daily activities I keep my long term holdings well diversified but I do still actively manage this money to make sure I'm getting the most out of it.
In addition, I always plan for the worst in terms of my personal spending. I always assume that I'm not going to make any trading profits each month so I carry no debt and while I do use a few credit cards, they are paid in full every month. Basically, I am cheap when it comes to spending which is how I ended up here. I try to keep my monthly spending to less than $1k, or 1 profitable trade, including groceries and normal monthly expenses.
The only aspect of the economy that is really hurting me is the housing market. A few years ago my house was valued at $450k but if I were to sell today I doubt I could pull more than $360-$375k due to the continued over-supply of both new and pre-exisiting houses here in Colorado. I would like to move but it isn't something I have to do or am really stressing about.
I really don't think the economy is THAT bad. A mild recession may be in the cards but personally my bet is on a few quarters, maybe a year, of between 0 and .5% growth.
I don't think we have hit the bottom on the markets yet. There was a very nice reversal right after the open today that provided some fantastic short term buying opportunities and may lead to a mild oversold rally over the next few days but I really think we are likely to re-test the 06 lows in the 1220 area on the S&P, the next line of major support for the index below 1300, before all is said and done. Bush's stimulus plan really won't amount to anything, IMO.
[quote name='jaykrue']I'm doing pretty good relatively speaking. I've been the boss of my own small real estate management company since college and I manage my properties through it. My small staff of 5 are all professionals in their respective fields of accounting, law, & business and we meet once a week to discuss & manage my company, my properties (as well as theirs since most of their properties are being managed by mine as well), & my other investments. No secretaries or PAs as one of us is always designated to take care of the minutes for the month and on rotation. My staff have their own personal PAs but only when it pertains to their own companies and, as such, aren't my employees so they have no significance to me economically speaking. My own secretary is the one who handles the remainder of tiny minutae needed to run my company. Most of the properties themselves are pretty much self-managed by a long-term resident and really only require my (company's) intervention when there are emergencies (flood, fire, domestic disturbance, insurance disputes, etc). The ones that aren't self-managed I subcontract to another firm I'm on good terms with. No dependents as I'm relatively young (i'm gonna be 31 this year) so I can still mess around. No school loans, my newest car was paid in cash. Plus, I have 2 startups I'm working on getting off the ground but I'm also using the same professional staff to set it up so I don't need to re-hire someone else. I don't buy anything on credit unless it's a big-ticket item like an investment property. I have a highly aggressive investment porfolio w/ a lot money not tied up to real estate in foreign investments, particularly precious metals & currencies. So yeah, I'm doing ok.[/QUOTE]
Good to hear, a few years back I figured you were on this track after reading some of what you wrote here about your business etc.
[quote name='mykevermin']
Have you been affected by the economy yet? How are you weathering problems now, or prospective problems in the future? Saving money? Not using credit (or worse, having to use credit)? Curbing discretionary spending? Staying away from theaters, gamestops (or your store of choice if you're too good for GS), bars, etc.?
So, how's life treating you?[/quote]
Oh hell yeah, I have been affected by the economy. My 401K has been in the toilet since November. I was breaking even with losses and contributions, but as of the first of the year until today, I have lost $300 in my 401K and I only had $3000 in it since I got on this new job last year. I'm still trying to catch up for the year that I was out of work so my savings aren't nearly where I would like them. The good news is that I have a little more than a year left on paying off my truck so that will be a tremendous bit of relief. I have started selling parts of my game collection and other things just to have extra cash on hand (plus I hate having a bunch of stuff I don't have time to use). I also have a couple of ideas for secondary income that I will be implenting in the future. I just need to do some more research on LLCs and some other things.
Overall life is treating me just fine, but I am concerned for the future.
[quote name='Snake2715']Good to hear, a few years back I figured you were on this track after reading some of what you wrote here about your business etc.[/quote]
[quote name='mykevermin']
If regular boring produce is expensive, I wonder what the prices are like at my favorite place to go when I have $250 to blow, 5 hours, and a frothing desire to cook yer in' face off: http://www.junglejims.com/
[/QUOTE]
I went there a couple months ago on a trip with my boyfriend to give his sister his car; she needed the automatic transmission and my boyfriend was looking to sell it anyway. We met halfway at that place. ing amazing.
And I'm glad I don't like fresh tomatoes. :lol: I haven't really noticed the prices going up much on my favorite produce, honestly.
[quote name='Chacrana']shit. Looks like I'll be stuck with the cafeteria for a while if food prices really are starting to skyrocket like that.[/QUOTE]
Chac if you want help price checking et al I'll help you man. I'll help show you where you can win hopefully.
Guinaevere you're missing what I'm saying in terms of cars. You want to buy a Murano. If you can get that extra money up I would suggest you buy one of those Electric cars to get around town to the grocery stores, a secondary non-gas car for errands. I imagine it should really start to free up some expenses in the process. I would suggest this to anyone. JayKrue you really sound like you have the extra money you could shell out for a Tesla Sportster or one of those cheaper Zapp's around 50K.
Here's the car most of you need if you can find the money: http://www.zapworld.com/electric-vehicles/electric-cars/zap-x
Check the gas mileage on that on the brochure.
But seriously here's one for everyone: http://www.zapworld.com/electric-vehicles/electric-cars/zap-alias
THIS is the Electric car that people can afford and gets the miles to they charge the need. Unfortunately it's a modified Motorcycle but for getting groceries you can buy a Xebra Truck or Sedan.
Sorry for the bad link Guin but this is the company I was talking about. Krue I would advise you buying the Sportster if you can afford it because they're at least assembled in Britain.
[quote name='mykevermin']Ouch. I'd leave it alone, Guile, unless you really need the money (which I hope is not the case).[/quote]
At the moment I am fine. I do have some money in my savings, paypal for emergencies, but I should be closer $4000 in my 401K if the damn market wasn't so flaky these last few months.
[quote name='Sarang01']Guinaevere you're missing what I'm saying in terms of cars. [/quote]Actually I wasn't. I wouldn't mind another hybrid or electric. But with the way people drive around here, I wouldn't feel comfortable buying another smaller car.
[quote name='Pookymeister']im waiting for ING to drop mortgage rates some more so i can refinance my mortgage.
Currently have a 6.2% and their current rate is 5.5% - think it will drop more?[/quote]I don't see that as likely. As it is, when the govt pushed through for rates to be as low as they are and that mortgages to be for people who otherwise wouldn't be able to afford a mortgage, they caused much of the current problem.
Banks & lending companies need to make money, that's their purpose. Having to drop to those who barely live paycheck to paycheck meant they'd be approving thousands of loans to people who would defualt and not make payments. The govt is trying to 'correct' the problem but a bandaid isn't the same as a fix. Banks know this. Banks also know that lower rates aren't a solution and are going to try to avoid that option.
Refinancing is pretty easy with ING - i pay them $500, they change my rate. Just want to make sure its sunk as far as it will go, so i don't lose out on another drop.
[quote name='Pookymeister']Refinancing is pretty easy with ING - i pay them $500, they change my rate. Just want to make sure its sunk as far as it will go, so i don't lose out on another drop.[/quote]I don't know if you listen to Clark Howard (or even know who he is) but he often speaks very well of ING for different things. That mortgage refi sounds nice.
I have't refinanced since moving down here. Which was mostly because we don't want to stay here, and I keep looking for where to move. Unfortunately having put it off for so long meant that I missed out on some killer rates.
And this talk of you and your home reminds me... weren't you getting married? Did I miss that at some point?
[quote name='guinaevere']I don't know if you listen to Clark Howard (or even know who he is) but he often speaks very well of ING for different things. That mortgage refi sounds nice.
I have't refinanced since moving down here. Which was mostly because we don't want to stay here, and I keep looking for where to move. Unfortunately having put it off for so long meant that I missed out on some killer rates.
And this talk of you and your home reminds me... weren't you getting married? Did I miss that at some point?[/quote]
Yea, i have ING for checking (3% or so), savings, and mortgage. Can't complain.
Your 401K' is a long-term investment. Sit tight and don't even bother checking them. Look at the bright side, your contributions are buying a lot more shares now and they will inevitably bounce back up in the future.
[quote name='dopa345']Your 401K' is a long-term investment. Sit tight and don't even bother checking them. Look at the bright side, your contributions are buying a lot more shares now and they will inevitably bounce back up in the future.[/quote]I'm definately down with long-term and sitting tight on long-term investments. But I do think it's wise to check on 'em.
Yea, i just got my yearly 401(k) statement. Im not sure how to read it exactly, but looks like I might be down a bit.
Since i can touch it without massive penalties for like 30 years, Im not sweating it.
The only change I've made is I've stopped the automatic contributions into my stock fund and I've started saving that toward a house. I'm gonna wait a half a year or so and look for some good bargains. IMO house prices are gonna drop for the rest of the year.
Everything else is pretty much unchanged for me. I save about half my income every month like usual. It's just going into this house savings instead of my investments. I have no debt and I don't spend very much either. I have health insurance and I always pay off my credit cards in full (in case of emergencies). I would be doing the same things no matter if we were in a recession or not. My only concern right now is I wish I had more foreign holdings but I'm working on that too.
I have a TSP account (government's equivalent to a 401k) through work and I have no idea how much is in it right now. I just know 10% goes in every paycheck. I'm not gonna touch that money until I retire so it's not like it matters how much I gained or lost last year. What I'm trying to say is you guys should stop looking at your 401k balance and just forget about it. Especially if it causes you to worry whenever you see that balance go down.
I dunno. Granted I'm not trying to buy a house right now, but I'm 20 years old making 15 bucks a hour with an older car I bought outright a year ago, a bit of money saved up, and a room I rent out from a friend of a friend for 400 dollars a month. I still buy a shitload of video games and my work provides me health care. I know, I know, not exactly the shining beacon of the American dream, but I think I'm doing better than I thought.
I don't think the American Dream ever said, "at 20 you should have a five-bedroom home and a mercedes in the garage." Friend of Sonic, you're doing just fine. Make sure to sock $ away for future, and you'll do even better. =)
[quote name='guinaevere']I don't think the American Dream ever said, "at 20 you should have a five-bedroom home and a mercedes in the garage." Friend of Sonic, you're doing just fine. Make sure to sock $ away for future, and you'll do even better. =)[/quote]
My dream has an 8 bedroom home
And i'd settle for a Lexus
I'm doing OK, Started my job 6 months ago, have 401K and health insurance. But I have a car and take the train to the city each day so it's car payment + $130. Still go to school at night which is large chunk of change that I can't take a loan out for. Hoping to get rid of the car and move to city in the next couple months because I still live at home, but now it looks like I may move my move out time table back.
Also put all my 401K in High Risk, I wonder if any of it is still there?
Ah don't worry Question, all that money in school usually pays off, don't feel that is wasted money at all.
I work as a teacher in Northeastern Ohio. The job market and economy around here as been very, very bad for many years. The steel yards have all closed down because of the cheaper priced foreign steel that was brought into the country, there were about 15 plants (Steel and Scrap) locally that would run 3 shifts, and most of those are now ghost towns, except for a few that now run skeleton shifts. The plant I worked at through my college days, was sold off piece by piece, and is now just a empty nasty looking field. GM has a local plant that was cut down to a very small workforce, due to the slow moving American auto sales. I work in a small town that is basically supported by a huge factory, and if that were to close, this area would be in big trouble.
I think the main problem in my area (I see it all the time in my students) is they are all very willing to go straight to the job force right out of high school. They all think they will go to this factory or work at a job making 12-15 dollars an hour and they will be in great shape. I always try to explain to them that making 15 dollars and hour, only comes out to about 28000 dollars a year before taxes. Even with incentives and overtime you might bring in 34,000 before taxes if you are lucky. Factor in that big truck you want, and the house/rent payment, and the fact that your benefits and health care are abysmal, and you not looking at very much at all. Plus the fact that you really have no room to advance in the company without an education of some type. I think we all are under the impression (at least I was) that when we go to college we see all these people there, and we think... Man everyone has a college degree these days, and my income must be what everyone is pulling in. When in reality that’s really not the case. My uncle works at this factory as a fork lift driver and brings in about 40,000 a year working 50-55 hours a week and pulls that swing shift crap... And I would say he probably does the best as far as money goes as anyone that I have seen work at that place. Now I mean, sure it's a decent wage for what he has (High School Diploma) but as far as buying stocks and boosting the economy, I really don't think he (or people like him) are really going to help. I think we are moving out of the "Factory Jobs" or "Auto Worker" jobs that paid great money in the past (My Great Grandfather, Both Grandfathers, and My Father all worked Steel Mill jobs and made a great living for themselves and their families) and places like the one where I live are getting left behind and people are really struggling to make ends meet. And I would have to say that "small town" USA is more common place than the big city is. So I imagine that this is happening all over the country.
As far as I go, I'm not making money hand over fist, but I never expected to in the profession I chose. For a second year teacher though, I am doing a lot better than I would have thought. I have outstanding health coverage, and great benefits. I have a retirement program that is paid for by the state, and I actually make enough that I have made a separate "extra" retirement fund for myself that I pay money into every pay check. I do own a house already, just two years after graduation, but it was a repo home that I needed to do some repairs to. Luckily I am the mechanic/carpenter/fix it guy, and my whole family is the same way, so I was able to do all the repairs and improvements for just the price that it cost me for the material. (I just had to supply my uncles and cousins with an incentive to come over and work. Labor for the cost of a 12 pack of Bud is sweet!) I drive my old Jeep Wrangler (1997) and have my beat up work truck s-10 and I don't plan on buying a new car any time soon. Plus, I went to a local college and commuted to the school, so I only owe about 9000 dollars to the school. , Those two things alone helps with bills every month. So I’m doing alright.
Anybody that is still in college and just scraping buy, don't worry. We were all there at one time, and the money and effort will pay off. Keep on going; you are ahead of the game already!
- Another side note, if you don't think you can afford a house payment, you should really look into it right now. The interest rate I got was unbelievable (5.67 but I hear it is going up) and I am paying only 50 dollars more a money on my house then I was paying rent. My buddy just renewed his lease and about threw up when he found out how much I am playing
[quote name='hx214']Ah don't worry Question, all that money in school usually pays off, don't feel that is wasted money at all.[/quote]
Unless you're a philosophy major.
I work as a teacher in Northeastern Ohio. The job market and economy around here as been very, very bad for many years...I work in a small town that is basically supported by a huge factory, and if that were to close, this area would be in big trouble.
- Another side note, if you don't think you can afford a house payment, you should really look into it right now. The interest rate I got was unbelievable (5.67 but I hear it is going up) and I am paying only 50 dollars more a money on my house then I was paying rent. My buddy just renewed his lease and about threw up when he found out how much I am playing
That is extremely dangerous advice, depending on the local market. It seems quite likely that the housing market is nowhere near a trough, and I personally think it wiser to wait this one out on bench until the skunking is over.
[quote name='speedracer']Unless you're a philosophy major.[/quote]
Obviously, but then again if you went into that type of field I don't think you are to worried about making money, or having money for that matter.
[quote name='speedracer'] I would be making plans to GTFO of there.[/quote]
I'm not really worried about it. I don't work for the factory, so I have my job, plus if they cut funding, my job exists in every school thorughout the country, so I can pick up anywhere.
[quote name='speedracer'] That is extremely dangerous advice, depending on the local market. It seems quite likely that the housing market is nowhere near a trough, and I personally think it wiser to wait this one out on bench until the skunking is over.
Depending on the market, of course.[/quote]
I'm not really sure what you mean by this. Personally I would rather pay a monthly fee toward a house payment and I actually own the house, rather than throw the money out the window on rent. I guess you are saying that the housing market is still falling with their prices, and someone should wait and let the prices bottom out. I was simply suggesting that people that are renting and don't think they can afford a house, should take the time to check into it. Obviously certain situations and local economy is going to factor in and in some areas the housing market may fall even more, but in my area it has hit rock bottom. So even when it is time for me to sell, if I only break even on my expenses at least I didn't lose any money, as to if I were to rent, my rent money is gone.
[quote name='hx214']I'm not really sure what you mean by this. Personally I would rather pay a monthly fee toward a house payment and I actually own the house, rather than throw the money out the window on rent. I guess you are saying that the housing market is still falling with their prices, and someone should wait and let the prices bottom out. I was simply suggesting that people that are renting and don't think they can afford a house, should take the time to check into it. Obviously certain situations and local economy is going to factor in and in some areas the housing market may fall even more, but in my area it has hit rock bottom. So even when it is time for me to sell, if I only break even on my expenses at least I didn't lose any money, as to if I were to rent, my rent money is gone.[/QUOTE]
I'm just sayin, even losing 15% (a reasonably possible prospect) on a $250,000 house (a very reasonable sum in any larg-ish city in America) between now and the time the market turns is a whopping $37,000. I get what you're saying about throwing money out the window paying rent, but the scenario presented above is less like throwing it out a window and more like agreeing to go $37k in debt to the bank with literally no return.
ers 1984 us. 
