Anyone really worried about the state of our economy?
I hate to admit it, but I've always just rode through life not paying attention to the economy. I leave that up to those that actually have an interest in economics! But I'm realizing its time to get in quick and understand where our nation is headed. The frightening part for me is that the whole situation is so overwhelming! I think I am going to start small, make sure my investments, savings etc are all secured, pay off as much debt as possible and try to stay positive.
Tags: economy
Replies to This Discussion
-
Permalink Reply by Kipling on -
Yes, I am very worried. My husband works in Wealth Management and luckily, has been bracing for this. He subscribes to a financial newsletter and has been following the advice from a particular group of economists that he trusts and they have been spot on with their advice. My husband has literally been warning me that this has been coming for at least over a year now and I thought he was crazy at times but now I really see where he was coming from. I do think we are in for a very rocky road ahead and am just praying it doesn't last too long!
-
Permalink Reply by Louise on -
I'm trying to pay off debt and starting to get a little worried. The decline in the price of gas is quite confusing. I think that scares me the most
-
Permalink Reply by Sophia on -
Honestly, I am worried. As a former investment banker, I went through the dot-com bust and came out feeling okay. But this time, this feels bigger and wide reaching. Many of my friends and colleagues have looked upon the last 10 years and have wondered what they accomplished (complete annihilation of 401k, retirement, savings, college, home foreclosure).
Given the global nature of this economic decline and the cross-industry impact, there are no quick fixes to these problems. Unfortunately it means everyone will need to take more bad-tasting medicine (e.g., personal sacrifices, corporate cuts and govt/intl intervention) before it gets better. I have faith that in time our economy will bounce back, but in the mean time, it is going to be a very rough ride. It just means keeping our nose to the grind stone and the Benjamins in our wallets.
-
Permalink Reply by socialstacy on
-
YES! I am very scared, I live in Detroit and I'm sure you've all heard/seen what is going on here. My job isn't automotive, but our agency handles it, and depends a lot on it. I don't know what I can do, or what I should do other than try to save some money and be a smarter consumer. We don't go out as much, or spend money 'just because I wanted it'. I hope something helps soon.
-
Permalink Reply by Ruthie Appleby on -
Not me...
I worry about nothing...
I pray and obey...
honestly...I can't do anything about it..
And God is my source He fed Elijah during the times of a famine
he can feed me.
-
Permalink Reply by Rebecca on -
~Prayers out there to those ladies who are struggling. Good Luck Vibes being sent your way! ~
Oh sure I worry, but like most of you I'm more worried on a personal scale. I think I do worry more because we have a child. I work in real estate doing marketing so I walk on egg shells everyday. We've been lucky. With the whole scheme of things...there's really not much you can do except be smart with your money and cut back where you can. You could say I have a tiny bit of paranoia. My freezer is packed slap full and so is the pantry. My husband questions me going grocery shopping since we have food but I tell him, "Hey, better buy it now while I know we have money...there's no guarantee we'll have jobs tomorrow". Plus, for Christmas this year everybody either got comforter sets, clothes, or outerwear (all on sale :) )
-
Permalink Reply by Ruthie Appleby on
-
I think too you have to be smart don't overspend.
-
Permalink Reply by Naughty and Nice Lingerie on -
I have been lucky enough where I really don't have to worry, but like the first person (Mel) stated, I will not worry about it, because one single person can't change it right now..I can only try to help by continuing my shopping addiction! LOL I don;'t have debt (except my house) and I have a very secure job that pays fairly well for my lifestyle..and then I have my side business that is doing extremely well at the moment.
At the same time, we have been affected...my husband lost his job of 12 years...if he wasn't such a smart squirrel, saving for that rainy day, I may have a different attitude about this all.
-
Permalink Reply by Elaine on -
We are scared. My husband has been following this debacle for months now and it's not just the US. It's a global crisis. All this "fake" money being lent out, etc. is coming back to bite us and HARD. I do try to have faith that things won't get too bad and right now my family is financially fine but who knows what the future holds. I think everyone NEEDS to pay attention, for themselves and their children's future...
-
Permalink Reply by JediMom on -
I don't think anyone feels secure today. A certain amount of fear is probably good to motivate you to avoid overspending and take better care of your finances, but too much fear can be paralyzing and negatively impact your life. I believe that things move in cycles and that this one will pass. Along the way, our country might learn some valuable lessons about overspending and the importance of saving.
-
Permalink Reply by Christine on -
I think we can't stick our heads in the sand and wait till things are knocking on our door step. It's great if the economy is not an immediate threat to you, but for some of us it's right in our face. My husband is a carpenter. He was building new houses for years and in the back of my mind I kept thinking, "This can't continue at this rate." And sure enough it didn't. Thankfully my husband can do side jobs for some money, but my budget is tight! And he hasn't had real employment in over a year. We also have no health insurance and we have two kids. Watching the news almost makes me ill these days! And we live in Illinois with the worst history in picking governors! I am praying for things to get better! And for all the ladies on her that are struggling!
-
Permalink Reply by Mary Wallace on -
every single american should be worried. but that doesn't mean panic, or give in, or give up. It just means 'be prepared to take some lumps that do not have your name on them'. If you have a subprime loan, if you are an autoworker, this is not your fault. The banks and shadow banks, thru de-regulation, were allowed to create billions of not-real dollars in their loans. Its just that simple. Now those bad loans are bankrupt and banks/shadow banks have no cash, because they lent out thousands of times what they had in cash reserves. I am worried about my kids and my cash flow, as are most americans. I'm stocking away cash in my savings account at my credit union. but the larger solutions are out of our hands, in the hands of the exact same people who created this problem. Except for the larger vision of the people coming in to the new Obama Administration. They understand that the 'market economy' does not work without some oversight. The rich are richer (see the $5000 dress onsale at www.net-a-porter.com, it used to be $8,000, so its a bargain). This is a chance to look at all of our systems from a mom's eye view. We can't have things operate without some loving discipline, some concern for our neighbors and a healthy questioning of 'why are you doing that?' as a mom does to her exuberant, immature children. I believe moms are the solution here.
- ‹ Previous
- 1
- …
- 3
- 4
- 5
- Next ›
Announce yourself!
© 2010 Created by Megan Calhoun
