How Has the Economic Meltdown Affected You?

No bonus check this year. Work has slowed down to a point where 40 hrs a week is now the average.

I work from home and the Mrs. is the money manager..and the Money Manager says, "all is good, go ahead and upgrade your 'puter".

 

I'm doing OK as I work in education, which is the most recession proof industry I know of. However, my wife's business is off dramatically from last year, she was shipping 100+ orders per day at this time last year and now a good day is 15. She had to close her office, stop drawing a salary, and move her business into our home. We are still making it, but she is going to start babysitting during the day so that we can make ends meet in the new year.

 

All I know is that I'm worried. Projects are being delayed or cancelled. Wife wants to quit in April or so to stay home with the kid. Soon to be kids.

/worry

 

I've had a house on the market for almost a year now. Paying 2 mortgages is NOT fun. I've just finished some serious renovations and I'm about to list it with another realtor, so hopefully it will make a difference. I'd like to at least get an offer before my kid is born next month...

A lot of companies have cut back on parties this year and that has affected my band income. It will be slightly lower than last year, but luckily, December is still booked pretty solid.

Also, my company is now up for sale because of the market. We have no idea who our new parent company will be a year from now....or if our services will still be needed....

 

I was laid off out of the blue. I was new to the company, but doing great, even got a promotion within the first few months. And they announced cuts, and I was cut. I got another job pretty quickly, but it was a bit of a shock.

 

that sucks about your company, I hope i works out. I wish i had some skill like yours to make some extra cash. that's always a good thing

 

I work for AT&T. Last week we learned that the axe will fall on 12,000 heads.

Their main target: Construction and Engineering.
My position: Engineer.

 

Working in education sector, so I am not seeing much change at least in my area. For now things are as usual for my family.

 

I've been very blessed. I was promoted to a new position within my company about six months ago, and got a 12% raise along with that. My wife was promoted three months ago with a similar, albeit smaller, raise. Certainly, none of our money is tied up in the market(s), so that probably explains why we aren't really feeling it.

We probably have never been better off financially...but we keep saving money and avoiding debt like the plague. If ye are prepared, ye shall not fear...

 

VC money has dried up, investors are waiting and not investing, we had a deal on the table pulled when the market crashed, we are now considering bootstrapping, or abandonining the idea and getting a job.

Dang...working for someone else would suck.




DD

 

I'm working contract, so I'm always worried, however the department is crucial in these times so i'm not worried yet.

 

Thanks, it's nice, but that money is pretty much going right into my house (mortgage/taxes/insurance/utilites) right now. Things will be SO much easier once I finally unload that money pit.

You work for a bank, right? It's no fun to be working for a financial right now. It's like you always have to have your ear to the ground and a 'plan b' in your back pocket.

I have money in the market, but I won't be using it for another 25 years, so I'm not really worried about what it looks like now. I just rebalance every quarter or so and weather the storm. It's not a loss until you cash out.

 

not anymore, but when I worked for a bank it was local and they aren't as tied to the mortgage melt down as these mega banks and they didn't specialize in mortgage lending.

 

Survived a round of job cuts a couple of weeks ago. Lost 9 out of 70 or so employees in the office. Lost around 12 grand from 401K since Feb but stopped that bleeding and know people who lost much more so I’m not going to b****. Wife’s job seems secure for now. Was really worried about the price of heating oil this winter (when the price was at $5.15 a gallon in September) but prices are dropping so that’s a load off the mind. Considering renting out the weekend home for the season (Jan 1 - March 31 - it's next to ski slopes). Don't really need too but could use the extra income

Christmas will be tight, but we’ll make it through.

 

My industry has been creamed, but for me, so far so good. The first half of next year will be very telling.

 

I lost 50k in paper value on a stock from its high a year and a half ago. My fault for thinking stocks could be sit on and appreciate long long term, but I'm 26 and I don't need that kind of money or want to depend on it. It sucked a half a year ago when I thought about it, but I have lots of time to wait for it to go back up and it gave me a lesson on investing.

As for the here and now, I survived a round of layoffs, and I'm looking for a raise. Don't know if I'll get it...

 

things arent too great for me right now and the worst part is that its not necessarily the economy itself that is causing it. its one of the factors yes, but the majority owner/president of our company and the minor owner/COO of the company cannot be in the same room together anymore because of their differences. They havent gotten along for years but always put aside differences to make the company run. Its both business and personal issues..the president is the father of the coo (through adoption) so I am not sure where it exactly happened that they couldnt stand each other anymore.

its pretty sad actually because we had a bad year this year but next year should actually be better and the year after that even better. But dunno if we'll make it that far if the two of them do not settle their differences.

just out of precaution I am looking for new things right now while I still have money coming in

 

I have to bathe in Dom Perignon instead of Cristal and am no longer able to wipe myself with $100 bills, I have to use twenties.

 

I haven't felt a pinch at all. I guess when you make crap to begin with, living on a little less than the usual crap doesn't feel much different.