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Iron Cowboy

The current economy--what are you doing?

100 posts in this topic

I know more working people that are laid off than working. I am a c.n.c machinist working in the metro and have survived numerous layoffs with my company but am down to 32 hours a week now. I feel lucky that I still have a job. My wife was laid off as a customer service rep. nine months ago. we have two mortgages and 3 kids. Luckily we are savers and were prepared for a situation if it occured. We dont spend a dime anymore on anything other than the bare minimums and hope we can ride out the down times with what we have put away as a band-aid for our short comings with the bills that are due.

Then I read "whos geting a new boat" threads with all kinds of reply's and it blows my mind. I dont begrudge anyone for being able to buy a new boat in todays times...more power to them, but I am sort of curious as to what the heck they do for a living and how they feel so secure to make such a pleasure purchase? I know everyones different so I would like to hear from everyone...guys like me sticking it all away (if theres any left) and guys that feel secure enough to be buying in these times.

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We all have our own story and everyone has their own situation. For those that are buying boats, I tip my cap in appreciation that they are holding up the consumer market and taking advantage of a buyers market. At the same time I tip my cap to someone like yourself who planned for the worst and can still provide for a family of five.

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Cowboy,

I'm in a similar boat as you. I'm a sheet metal fabricator in Shakopee and my wife was a Project Manager for the same company. She was laid off back in November nad was finally offered a job in Plymouth this week.

We did cut back and ration our resources. We still were able to live comfortably but made some significant changes in the life style to make it work.

Like fishandshroom said, keep on keeping on.

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We are keeping a fairly tight grip on our money. We just purchase a SUV for the wife, but that was to replaced the one we rolled and totaled. Other than that no major purchased planned.

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We try not to make and big purchases. You have to keep moving on though. I don't think you can curl up in a shell. It's hard, but we cut spending. We still try to find cash to do something we enjoy. I keep fishing (easier now that gas is down) and we try to do something with the kids every week.

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A card and 1/2 dozen roses was welcome by my wife today instead of a diamond bracelet. We are holding back ourselves as we see the writing on the wall that her job is going to disappear any day now.

No more spending without analyzing the situation first.

With my gear - glad I have what I need. If it's broke, fix it, instead of buying a new replacement.

Good luck all.

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Well, I fully understand the situation myself. I just got hired today for a new job after being unemployed for 3 months. It was amazing how tough it was to find a job out there right now. Before, I had people calling me at work trying to hire me off the job and now its so tight that they are not even hiring part time. Luckily I had stuck enough away to pay the bills for a while.

Its really amazing on how little I can live on when I dont spend money on stupid stuff, eating out, beer, buying entertainment, going to fleet farm just to see what they got ect. Unfortunatly I have also had to cut back on just about all the fishing/hunting too. No trips up north to go fishing/hunting and I have pretty much cut it all back in town too. Back to the mooching freind thread, i have been getting all my mooching freinds to foot the bill since I was out of work. They now know what it cost me to go fishing and have a little more respect for that.

Im really kind of glad that I had pretty much been geared up before I was unemployed so I wasnt lacking anything important. Jumping on deals while I was previously working has paid off bigtime.

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We cut a lot of spending, but also reawakened ourselves to cheaper or even free entertainment. wed got rid of our cable, and honestly, none of us miss it one bit. You save $500/year, realize how much more free time you have, bond with the family, don't get over exposed to relentless ads, snd I personally am happier, as I don't get stressed out as much about life ( I was news junkie). Also save son the electric bill, as TV's are kinda energy hogs.

If its really important information my ABC or PBS channel will air it.

We go the library once a week when they have a story teller. My 2 1/2 year old ,loves this . . . and then we borrow some books.

Fishing has been cut down dramatically this year, but when the opportunity arises, I relish it even more.

We also wear jeans and some other clothes multiple times before washing if possible.

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I am a union electrician, and got laid off two weeks ago, been with the company for darn near 10 years. Wife is does hair and is her own boss. We are also cutting back, not going out as much, not buying as much fun stuff. Also saving money on daycare, with be at home, running "daddy daycare".

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Been laid off since December. Currently taking a class at the UofM and networking like crazy. I've had some good informational interviews and have networked myself into the companies I want to talk to. Recruiters are still contacting me and my call back list is long. I've had first interviews with a few companies, a couple of second interviews, one job offer I turned down, and I expect another offer this week which I may accept. The only bummer is I haven't icefished at all this winter.

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I have pretty much been broke since the day I graduated high school, 12 years ago. So, all this economic bad news really has not effected me as much as others. I have always shopped at Wal-Mart, which I hate, and have never been able to buy a new vehicle or boat. I drive a truck with 190,000 miles thats been paid off for 6 years, my boat is a 1971 hand-me-down from my dad, almost everything I have is junk I have had to fix several times and I rent my house.

I feel bad for all of you whom have had to make big life changes to survive these days but welcome to my world. It is not against the law to be broke.

Good luck, things will change.

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I am lobbying like [PoorWordUsage] right now to try to convince the Lessard Council and legislators to spend the "dedicated funding" money on creating new jobs in the private sector (private businesses that pay taxes and create jobs)...rather than all the money going to government and non-profit organizations (these organizations may create some jobs but not as many and certainly don't pay taxes).

The dedication funding money that you and others either voted yes or no to on this past November's ballot did pass...and now the government and non-profits are fighting over it.

I believe that this funding can be used to support existing as well as new businesses that deliver conservation and habitat onto the land at a much reduced cost to the taxpayer (bigger bang for the buck) and offer more jobs...and even as important...pay taxes.

The state needs revenue as we are looking at a 4 to 6 billion dollar deficite by 2010! Of course we need more accountability in the budget and spending...but using the dedicated funding money to support private businesses and put people to work getting conservation and habitat onto the landscape is a great start.

Anyone that lost their job interested in working on the land, doing some native grass planting, tree planting, prescribed burning, mowing, spraying, consulting work, etc., etc.?

Sounds fun doesn't it? And it can be your job! Private companies will need to hire a lot of people if funding can be directed to private businesses to get this work done...not more government doing the work.

I am a team player of course and appreciate the team plan...we definately need government and non-profits to promote, education, administer and provide technical assistance...but not compete with private companies selling products and services.

This plan is good for the economy and good for the environment. I encourage you to contact the Lessard Council and your representatives to let them know how they should spend this money.

What do you think? Any questions or comments?

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I have kept debt manageable, cutting wasteful spending, paying extra on any remaining debt, and moving my money more and more out of the US economy

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I have kept debt manageable, cutting wasteful spending, paying extra on any remaining debt, and moving my money more and more out of the US economy

Ok I'll bite if your trolling.... where are you moving your money that is so much better? and are you still living in the US drawing an income? If so why since you have given up on the economy?

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Originally Posted By: tacklejunkie
I have kept debt manageable, cutting wasteful spending, paying extra on any remaining debt, and moving my money more and more out of the US economy

Ok I'll bite if your trolling.... where are you moving your money that is so much better? and are you still living in the US drawing an income? If so why since you have given up on the economy?

rephrase... I have gotten out of the market. seems as if our government wants to "britainfy" or "argentinafy" us, if those are even words

oh, i am also calling klobachar and oberstar on this so called stimulus bill but to no avail. they sure couldn't wait to respond to me when i was complaining about the overspending by the GOP in the last eight years smirk or in the case of klobachar, the last two till this point

ah [PoorWordUsage], whatcha gonna do? i feel like bill murray in ghostbusters 2 when he yells out to the mayor's spinmeister,"hey, I'm a voter. Aren't you supposed to lie to me and kiss my butt?"

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Maybe naive, but things are actually going pretty well. Both the wife and I have had some big deals happening at work that will keep us busy for 2 years at least. It is good to be busy and working for a big company on a team that drives a lot of money to the bottom line.

We are trying to take advantage of the buyers market right now. Car prices are pretty good, looking at getting one of those; looking at building a new garage; and looking to buy some more of the "For Sale" stuff out there. Hoping to position ourselves well for the turn around. Could be 6 mo, or a year or 2, we will see.

To be honest though we are keeping our money a little more liquid than we may have been doing a year or so ago.

Was hoping to find a boat, but jeeze, I think the prices have actually gone up a bit. Might be too early in the season.

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Maybe naive, but things are actually going pretty well. Both the wife and I have had some big deals happening at work that will keep us busy for 2 years at least. It is good to be busy and working for a big company on a team that drives a lot of money to the bottom line.

We are trying to take advantage of the buyers market right now. Car prices are pretty good, looking at getting one of those; looking at building a new garage; and looking to buy some more of the "For Sale" stuff out there. Hoping to position ourselves well for the turn around. Could be 6 mo, or a year or 2, we will see.

To be honest though we are keeping our money a little more liquid than we may have been doing a year or so ago.

Was hoping to find a boat, but jeeze, I think the prices have actually gone up a bit. Might be too early in the season.

Good for you I love to hear things that are on the rise for someone rather than hearing layoff and such.

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the ones that have the money and stable jobs need to be spending that money, as this keeps everything rolling. as a CNC machinist myself, we have been doing ok as a business, in fact I can still work overtime. I just worked 51 hours this week, but we do a lot of medical work, so that helps.

I have been doing my part on spending, I bought a new skeeter last year, and a new truck a few months ago. I have money saved up, as I was going to biuld a garage at the lake place, but am undecided on spending this money, even though its a very good time to get it done. the market has taken a dump this week, which makes me think, be carefull on what I spend.

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Ya, I hear ya with the buyers market thing. It has been disapointing so far this winter without a job. Lots of good deals passed up to save for the real bills.

Now that Im back to work im going to be getting caught up a little and then its on.

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Ya, I hear ya with the buyers market thing. It has been disapointing so far this winter without a job. Lots of good deals passed up to save for the real bills.

Now that Im back to work im going to be getting caught up a little and then its on.

I am glad that your back at work. we need to get more of use back at work.

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Thanks, it was very tough to get another job, and I really do feel for the people out there searching. It is extremely tight out there and there is more qualified people searching than ever. I guess the positive attitude aproach payed off in the end, so we got to keep our chins up if we want to beat this whole economy thing. I really dont think we are doomed, we just got to take it a day at a time and keep inovating. We are in America after all, if anyone can beat this, its us.

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There is going to be more layoffs ahead I'm affaid. Remeber the 70's and early 80's it went bad to worse.

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I agree with those here that have stated that the people with the jobs and money need to continue to spend and keep the economy moving )even though that can be hard sometimes when you see your net worth drop 40% in a few months). I have been considering a new truck and camper (both made in america) but have not done anything yet and not sure I will until I get a better feeling on the economy. I want to keep as much cash as possible in case things go from bad to worse. But I know what I am going to do this year and that is take more fishing/hunting trips and spend money at the local business along the way. I feel this is a great way to get the money directly into the hands of the people who need it and I get to enjoy myself and meet some great people also.

Help the economy..fish more not less!

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