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Offline Matthew

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Americans - How soon they forget
« on: January 27, 2011, 12:30:17 PM »
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  • It's as if 3 paychecks in a row is enough to make most people forget the whole period of unemployment and uncertainty that they suffered.

    Just like in the Old Testament -- after a massive "learning experience", the people of Israel were in dire need of another just 40 years later.

    Except in America it's 40 DAYS later!

    Sad to say, but we really are doomed if this is the type of person populating America today. There is no way to teach such people.


    Name: Linda Condrillo
    Hometown: Mountainside, NJ

    I've always been pretty frugal and have become a professional bargain hunter since being let go from my job about a year ago. I'm a lot more cost conscious now. Unemployment keeps me going back to Wal-Mart instead of Lord & Taylor. And I'll have to find a job soon, very soon.

    Still, I will be eligible for an upgrade with Verizon and I'm considering the iPhone. I'm optimistic -- I'm seeing more job leads. And maybe if I look like I know what I'm doing, I'll get a job.


    Name: Cheryl Pope
    Hometown: Detroit

    My husband lost his job at a local pizzeria here in Detroit in 2009. Their business suffered and they had to let him go. That really took a toll on our income. We cutback, we made a lot of spaghetti, chili, beans, things like that.

    Six months ago, he found another job in the restaurant industry, so this year we are planning a family vacation. Before he got laid off we went to the Bahamas and this year we're going to Jamaica, so we'll be able to take the whole family. The trip will probably cost close to $4,000.

    After eating Ramen noodles, beans and cornbread, and spaghetti every week for two years, I think it is time. We deserve it.


    Name: Jordan Harbinger
    Hometown: Los Angeles

    I used to be a Wall Street attorney, and I got laid off in 2007. So I started my own company with my best friend. It's been successful, but it's just that it's still a start up.

    I've cut back on food and started eating simple meals instead of ordering for dinner. I canceled cable. I haven't traveled much at all -- and I used to travel a lot.

    Now, things are looking up for us, so I thought 'Ok, I'm going to get a car.'' I got a Ford Fusion, and I did get a deal on it. I'm totally happy with it, but having a car versus not having a car is going to require some lifestyle adjustments.


    Name: Beverly Solomon
    Hometown: Lampasas, Texas

    Our art and design business has done better than most small businesses in this recession. However, with all the uncertainties, I have kept the spending down.

    It has been very hard to refrain from buying the wonderful clothes that the luxury and upscale stores have been offering at great prices.

    Even though we're not rolling in the money like we once were, things are starting to look up. Just recently I've had some of my wealthy clients calling me back and putting deposits down.

    As my bottom line improves, II plan to splurge on some of those wonderful fashions that I have been lusting after for the past two years. I'm planning a shopping trip next week. I saw some beautiful jackets I'd really like to have. I'm sure they're marked down, and if I can find my size I'm going to nab them.


    Name: Jill Mikols Etesse
    Hometown: Leesburg, Va.

    During the recession, my husband was with a start up that shut down, and I started my own company that's been slow to get off the ground. So we had to make some cutbacks.

    We've been really pinching pennies for the past two years, not going out to dinner or taking trips. We tapped into our savings, which we said we'd never do. It's really been a struggle.

    Then he went to work for his friend at another start up and his company picked up a couple of good accounts. Everything is finally on an upturn, and it hasn't felt like that in a really long time.

    The house needed work so the kitchen is being redone, and my husband is getting a new used car!

    I decided to splurge because I couldn't take it anymore. The kitchen was tile counter tops that have been there for a million years, now I can finally get the granite.

    My husband's car hit 100,000 miles and started to have problem after problem so we decided we're going to replace that too. The last two years I worried about everything I bought and I don't feel like that anymore. It is such a feeling of euphoria!


    Name: Monaica Ledell
    Hometown: Wichita, Kan.

    We had this economic crisis, and the first business I started failed. I just decided I need to change my mindset about what I'm spending my money on. I spend a pretty hefty amount on my daughter's school, but, I cut back on clothing and am always ordering off of Amazon for a better price on most things.

    I worked hard to decrease debt and increase my credit score. I now have a new business and was able to steadily grow as an online marketing consultancy. Things have settled down a bit and my clients are feeling more at ease. I feel less anxiety about the economy, I feel like it's a little bit safer to take some risks.

    I'd like to buy one piece of rental property, a single family home. I want to make a strategic - smart decision - and one day hopefully have a few apartment complexes to maybe retire on.


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    Offline Matthew

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    Americans - How soon they forget
    « Reply #1 on: January 27, 2011, 12:41:21 PM »
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  • Another thought --

    It's not virtue or prudence when you practice frugality WHEN YOU'RE ABSOLUTELY FORCED TO. For example, if you made $3500 a month, got laid off, and then got $2500 in unemployment benefits, you *HAD* to cut $1,000 from your budget, especially if your credit cards were already maxed out.

    Doing so is not virtuous or "being smart".

    The true test of how smart/virtuous/prudent you are? What do you do with your money when you get a good job again. Do you "forget your troubles" like they never happened, learn absolutely nothing, and start blowing it like there's no tomorrow? Or do you make a permanent change, investing your money in home upgrades that save you money every month for the rest of your life?

    There are much better ways to spend your "windfall" which prepare you for the future -- pay off debts, pay off mortgage, buy a solar hot water heater, more efficient A/C and/or heat pump, solar screens, shade trees, insulated curtains/blinds, attic & wall insulation, storm door(s), CFL lightbulbs, LCD monitor for your PC, etc. (And have more children, if that's possible for you!  :wink:)

    Plus there are things like kitchen equipment (deeper/nicer sink, various appliances, etc.) which encourage you to cook meals at home, by making it more pleasant (or at least not super annoying!) Bread maker, griddle, waffle iron, new cookie sheets, bread pans, pie pans, etc.

    Wouldn't it be a shame to be cheap on your kitchen equipment, only to end up spending MORE TOTAL because you end up eating out more? How is that saving money? That's just being cheap and/or short-sighted.

    Saying no to purchases is NOT always the best way to save money!

    For example, If your refrigerator is more than 5 or 6 years old, it might be costing you *more* money to keep it plugged in for a year than it would cost for a brand-new unit.

    There are gifts to yourself that keep on giving.
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    Offline ServusSpiritusSancti

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    Americans - How soon they forget
    « Reply #2 on: January 27, 2011, 01:24:48 PM »
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  • Two really big problems with what these people are saying. For one thing, you don't need to be wasting money on iPhones, expensive trips, and that sort of stuff. Also notice that these are women that are working outside the home! What a disgrace.
    Please ignore ALL of my posts. I was naive during my time posting on this forum and didn’t know any better. I retract and deeply regret any and all uncharitable or erroneous statements I ever made here.

    Offline Catholic Samurai

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    Americans - How soon they forget
    « Reply #3 on: January 27, 2011, 11:24:57 PM »
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  • You know, I bet most of these people are buying this stuff with money that they dont even have yet. They're probably putting it all on the credit cards and are counting on their next paychecks to start making the payments on the bill (plus the interest incurred). Meanwhile, they'll just make the minimum payments, and incur yet more interest.
    "Louvada Siesa O' Sanctisimo Sacramento!"~warcry of the Amakusa/Shimabara rebels

    "We must risk something for God!"~Hernan Cortes


    TEJANO AND PROUD!

    Offline Elizabeth

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    Americans - How soon they forget
    « Reply #4 on: January 27, 2011, 11:46:33 PM »
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  • A glimpse into the devout shopper's mind.