Posted on 07/13/2008 2:12:20 PM PDT by OKIEDOC
snip -Saddled with payments on a gas-guzzling truck and SUV and facing escalating food and gasoline costs, the Poway couple expect they'll be left with few options to economize should gasoline prices continue their rapid ascent. For now, their $925 monthly rent is reasonable, but any increase could be financially debilitating. snip-In extreme cases, some could even face homelessness, financial counselors fear, as surging oil prices snowball into higher costs for everything from utilities to a carton of milk.
Less calamitous but still worrisome is the economic fallout facing middle-income families, many of them unaccustomed to adhering to strict budgets after the high-flying times of stock-market and housing bubbles.
Undoubtedly, sacrifices will be made, from cutting cable and phone bills to forgoing vacations and dinners out, as households look for ways to adapt to higher fuel costs, economists say.
What were once seen as household necessities – think cell phones, lattes and 80 television channels – soon will be regarded as luxuries, even among a generation of consumers who believe it's their birthright to have it all. Frugality already has taken hold, as restaurants report a slowdown in business and consumers head to secondhand stores for clothing bargains.
(Excerpt) Read more at signonsandiego.com ...
http://www.signonsandiego.com/news/business/20080713-9999-lz1n13ends.html
I always thought lattes and fancy cell phones were a luxury, and I have a good job! :0)
I suggest looking hard at all monthly fees and payroll deductions for Ins. etc, as well.
Too many folks just pass on looking at their insurance plans because the spouses can’t come to agreement on making a downgrade.
Rule #7: ALWAYS have one vehicle that you own outright and do NOT have to make payments on.
Flying’s going to be a luxury again.
No more bubba and his six squalling tattooed children flying off to Disney World.
I was offered (With arm twisting) a transfer to San Diego about ten years ago. I chose not to go, and took a layoff instead, in part because I simply could not afford to live there.
And while I chose not to live there, I also did not choose "Gas-guzzling vehicles", either.
They chose the Zip code and they chose the vehicles...But now, they are gonna DIE unless we vote for HOPE and CHANGE. Is that what the story meant?
Please contact congress on Tuesday July 15th
Let them know how you feel about the skyrocketing energy prices
Tell your friends, family neighbors and coworkers
Contact congress Tuesday July 15th
DRILL HERE DRILL NOW!!
California state employees can be residents of Mexico? Processing unemployment claims? Anyone see the irony in this?
From Business Week: "California's unemployment rate jumped to 6.8 percent in May"
You’d have to be blind not to see what’s happening.
The trickle-down effect of the prolonged high gas price is hurting a lot of people, as all the money that people once used to spend just going out and having a good time, or buying the latest movie or CD is used to feed the car, or cover the spiraling cost of food.
I mean, who wants to go on vacation when it’s going to cost $300 in gas just to drive through a couple of states to get to wherever it is you want to go? And it’s always we the people who lose. The businesses simply raise the cost of their goods to compensate for the higher fuel costs. Government notices that traffic is down and raises the prices of the tolls. The only ones who get squeezed until they bleed is... well, us.
And our useless government does nothing. The left cries like little girls when ANY attempt to create energy is suggested. The right points fingers, says “See? It’s all THEIR fault!” and then goes and hides under their desks.
What was it last week... 9% of the people approve of the job that Congress is doing? We need to find that 9% and talk some sense to them. Then again, it could hit 0% and those arrogant boneheads in Washington would simply shake their heads at how utterly stupid we, the population are, and then continue to fly around on their jets, have dinner parties and talk about how important they are as America continues to stumble under their watch.
The precious little dears.
For the love of manhood, someone save us from this inundation of infantile whining crap. This is the richest nation in world history. Suck it the warm place up.
Buy bulk foods, and cut the processed, boxed foods out.
Cable tv is the first thing I would cut, because if you're in that bad of shape, you need to concentrate on your situation, not distract yourself. Kids can read library books.
I would not, however,get rid of internet access, because the internet is how you find jobs these days.
I would not, however,get rid of internet access, because the internet is how you find jobs these days.
I wonder if that's why our cable company ties internet access to cable access? We can't have internet without cable TV, and not just the basic either - we're paying for a whole lot of stations we don't watch.
I’ve been poor all my life, till I got my degree & certificate 4 years ago, got a teaching job, and suddenly became middle class. I have a mountain of debt of course, from school, but this is still the best I’ve ever lived. Even if I lost my car, my quality of life would be higher than it’s ever been. And my job is near by. I’m very lucky right now.
Could you please tell me, (privately if better) what the "move" package was? I'd really apprecaite it.
Thanks!
“They failed to rein in their lifestyle, continuing to send both sons to private school, regularly eating out and indulging in designer purchases, racking up nearly $40,000 in credit-card debt, Franco said.”
Husband loses job, and you “indulge in designer purchases”.
Hubby lost job ... what exactly were those indulgences?
Eating out, too, is a big no-no. If you don’t have an income and might not be able to put food on the table, you don’t have the money to hit the drive through.
That "etc" will get you, especially if one is having too much withheld for income taxes in order, to get a big refund. It's a terrible savings plan. I have a daughter who does that, makes me want to thump her on the head but it wouldn't do any good, she's hard headed.
The largest refund Ive received in many years was about $250 and I hated that. They had $250 extra of my money and I got no interest on it.
Yes you can. Just do a Google search for internet service providers (or ISPs) in your area, and choose one that works best for you. An ISP does not have to be your cable TV or phone provider.
Those who have worked themselves 'up the ladder' know how to get by without extras, those who have life given to them on a silver platter do not.
REPLY:
Excellent comment and observation.
Those who have well paying jobs and can reasonably expect to hold on to them for some time need to understand that not all people can just suddenly make drastic changes.
One comment in the San Diego papaer by a snickering knuckle head who probably is a Democrat stated, get a better paying job.
These kinds of people are absolute arses.
As times get harder jobs will start drying up and the pressures will grow to a point where many good people will lose all they have.
Democrats are fond of saying “We Feel Your Pain”.
Well feel this Democrats, a major part of the problem is your playing silly gotcha games and holding lower economically challenged folks hostage to your inane partisanship of do nothing.
You think that will work with all since you have done that with blacks for the last 100 years and they fell for you Shiite, hook, line and stinker.
If you look carefully, you'll find that a lot of folks have a cell phone growing out of their ear. DNA and times is a changing.
And if you listen to Dave Ramsey, you hear multitudes of similar stories.
Budget? We don't need no stinkin' budget.
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