Comments on: Economic Fear

By: ThatBobbieGirl

ThatBobbieGirl — Sun, 19 Oct 2008 02:06:13 +0000

The best thing that congress could do would be to repeal ever law that the legislature has ever passed in the history of the country and then go away so we can start over.

(and I’m only half-kidding….)

By: Heather

Heather — Thu, 02 Oct 2008 23:01:09 +0000

We’re having serious Princess and the Pea syndrome over here due to our stash.

By: Mom of three

Mom of three — Wed, 01 Oct 2008 19:42:22 +0000

Don’t put gold under the mattress. You’ll lose all kind of sleep that way. Bury it in the backyard. That way future generations can dig it up and use it all over again.

By: Heather

Heather — Wed, 01 Oct 2008 16:27:28 +0000

Maybe I should have linked to Dave Ramsey’s ELP list. My big point is that someone shouldn’t sell off their investments and put it all into gold or stuff it under their mattresses.
I respect Dave Ramsey’s economic principles and wish more of America did as well.

By: JayMonster

JayMonster — Wed, 01 Oct 2008 16:23:57 +0000

I know what you are trying to say, but I can’t help but laugh at the “talk to a trained financial advisor.” Aren’t they the ones that caused this?

OK, now for a useful tip. And this is one that I find surprising more people aren’t doing. Got your in a local bank savings account earning 1/2 percent? Check into the online banking places like INGDirect or EmigrantDirect that offer much better interest rates for your money.

By: Teresa

Teresa — Wed, 01 Oct 2008 11:17:51 +0000

Ask yourself why the media wants you to be afraid. Open markets have a way of correcting themselves relatively quickly (I think the estimate I’ve heard bandied about is 12-18 months for this little upset), but when the government gets involved it can take forever. *sigh*

Which brings me to my point, they want you to be afraid so you’ll tell your congressperson to support a bailout. Take it with a grain of salt.

By: Judith

Judith — Tue, 30 Sep 2008 19:57:26 +0000

I agree with Mom of 3 …………… this has been coming for a long time. Those of us who live pretty low-to-the-ground anyway (read: we have little money) know how to survive this because we’re used to making do/ using up / doing without / making good stuff out of very little.
At our house, we’re continuing to make menus, recycle, have fun without spending a lot of money, concentrate on family and friends, be generous to those we can help, and enjoy life. We are cutting back even more on spending …… and are trying to build a larger financial cushion.
One hint from us ……….. we’ve discovered that eating out is really expensive compared to cooking and eating at home, but when we do want to indulge, we often go out for coffee and pie at our local (favorite) diner. $8.00 spent instead of over $20. And still fun to do with my dear husband!

By: Lisa- Domestic Accident

Lisa- Domestic Accident — Tue, 30 Sep 2008 16:43:28 +0000

This is exactly why I don’t watch the news.

By: dan

dan — Tue, 30 Sep 2008 14:05:17 +0000

Piece of advice: Don’t be TOO stellar at your job, unless your boss is also stellar. If you have a less-than-stellar boss, standing out in a visible way will make HIM feel insecure in anxious times, which means YOU’LL become a target.

If you’re trying to survive coming layoffs at a mediocre employer, survive by being more mediocre than everyone else. If you can stand it.

By: Mom of three

Mom of three — Tue, 30 Sep 2008 12:24:22 +0000

Stop buying more than you can afford. The reason this is an issue now, is these lenders loaned people more than they could afford on houses that weren’t worth what they were paying.

As a nation, we have got to stop spending money we don’t have.
Our house has doubled in “value” since we bought it 13 years ago, despite the fact that we have done very little to it but live here. Personally I think this is just an economic readjustment that has been long overdue.
Gas was 107.9 the day I quit work in 1990. It stayed that price until 2006. That’s a long time for the price of something to stay the same.

Sure when money is tight, it hurts. But things could be far worse than they are for most Americans right now. Don’t believe me, ask any missionary to Africa.