Changing Your Spending Habits?
Do recent concerns about a potential recession have you changing the way you live?
Are you cutting back in any areas in order to save money?
If so we want to hear from you.
Some comments may be used on air or for use in a future story, so leave us a name and hometown with your comments or a possible way to contact you.
Are you cutting back in any areas in order to save money?
If so we want to hear from you.
Some comments may be used on air or for use in a future story, so leave us a name and hometown with your comments or a possible way to contact you.
posted by lbarr at
2:04 PM
17 Comments:
We don't live beyond our means or purchase unwisely, so there's no need to cut back on the spending. Also, unlike the majority of the population, we have an emergency reserve saved up in case of a disaster. It would take a long time for us to feel the effects of a recession.
Dear WKYC,
I’ll tell you what happened to me. I bought a new home which I was able to afford in 2002. My daughter became very ill to the point I didn’t know if she would live. I had good medical insurance, or I thought I had. She has severe mental illness, and we all know that the insurance company does not treat if she had a “physical illness” Every time she had to be admitted to the hosp, the insurance company said it was “medically necessary”, but it is no guarantee we will pay. Well they did not cover. $400,000 later, I had to file bankruptcy. I could not pay them. This was to several major hospitals in Cleveland area. My home was included in the BK, and later went into foreclosure. I could have paid for the home, but they would have taken it from me. Anyway, my daughter fights everyday to stay alive. We live in a hell hole of an apartment. I lost everything to keep my daughter alive. My income was good enough to pay the house mortgage and insurance and taxes.
So, because of all this, my credit is ruined for 10 years. I can’t live in a “safe “ place. We really wanted a dog, especially for my daughter as a “therapy dog”, but can’t afford that as well.
I still have my job, and still very stressed out about everything. My daughter is ill, and taking care of her has put me in a near heart arrack mode from all the stress.
Why do I have health insurance if they won’t help my daughter. The government took her away as I was unable to provide 24/7 care for her, and now, I have to pay them child support. She is 18 now, and I still pay child support. Isn’t that special? The government of Ohio spent close to ONE MILLION dollars on her care.
Yes my family is cutting back. With the price of gas and the cost of everything we are not going out to eat, going to movies, buying extra things or driving unless we have to go to work.
I did not live beyond my means, but this economy has forced me to. I have a fixed rate mortgage, my car payment is stable. It is living that has gotten out of hand. 240.00 a month in gas, 400.00 in heating and I have not eaten yet...My expenses in the last two years have gone up 100% my pay has decreased...This is not about living within your means....I need help at the pump and at the store not in the form of a one time check from the IRS.
I know that my family has cut back on "extra" spending and finding more creative ways for entertainment (movie night at home etc...). With the gas prices that way they are, it makes you plan your outings a little more cautiously. We never really spent a lot of money on needless things but, I think all this talk about a recession just makes you more aware of your extra spendings and how you save your money.
My husband and I have two very small children, and we live pay check to pay check. I budget us each week down to the dollar amount of what we can spend on anything - including groceries & gas. There is always something that has to be paid for, and there's never any spending money. What's most pathetic, is we'll spend over $100 a week on groceries (for a family of four) and we'll come home and put the groceries away, and still have an empty fridge. It's pathetic.
I am an educated woman with a bachelors degree and I'm struggling every month. Why is this?
Yeah, I keep hearing all these speculations of a recession... honey we're already in a recession, and have been for years now.
These are the people with enough money in their savings accounts to not care what happens to the rest of us.
I am 94 years old and very frugal. I have a black and white tv. Use candles when I can. Grow my own vegetables in the summer, and can them for the winter. I go to bed at sunset and get up at sunrise. I live like the Amish, that's the only way to go. I also plan to take all my money with me when I kick the bucket.
Certainly. I only make $7.00/hour and have no health or ANY benefits. The price of gas and food is limiting any volunteer activities as well as any spending on little extras. Right now we are paring down to essentials only. The recession hit last month and has curbed quite a bit.
We purchased a new home in November of last year. We were lucky enough to sell our condominimum before the market took a dump. We've had quite a few home repairs to make. We have one child and another one on the way. We are definately cutting back on spending. No more eating out or HBO. We are even doing our grocery shopping at Marcs and Aldi. Anything we can do to save a few dollars we are doing.
I just received a $437.00 gas bill. I keep my thermastate turned down and can't wait for next months bill. I didn't buy any xmas this year, just didn't have any extra funds, we are just not buying anything right now and we both work. Even if they(the government) does give us any money it will go towards are high gas bill, we won't buy anything.
The rebate that the government is giving is like putting a bandage on a critical injury! The gas prices are so high (climbing in the last 4years), and all the other necessities, I don't know in what la la land that people are going on a spending spree with the money they get back to help the economy. Oh, well it is just going to buy another tank of gas, that the profits from will go into another oil mans pocket! Just another out of touch with the common man gesture..Saving and holding on to the money is something only a few people can do. And now that the only blessed ones with the "good credit" will be homeowners, what do the rest of us broke pay check to paycheck people have to live for? We wont ever qualify for our own home now. Because we cant pay our bills on time, not because we are deadbeats, but because there is more month left over at the end of our money! Will it ever be different???
Luckily, I just received a tremondous raise and bonus, and just refinanced my adjustable rate mortgage to a fixed rate mortgage and shaved $200 off my monthly bill. I'll have one credit card paid off this month and will be working on the other two. However, I take the bus to work, don't eat out or go out often, get books from the library and listen to the radio for the music instead of buying CDs. I only buy clothes on sale and when I need them. But, I am blessed that I have food on the table and a roof over my head and I thank whoever is up there everyday for my life.
I'm moving out of Ohio to San Diego California for a new job. There are no jobs here and they are worried about building new condos on the East Bank. Cleveland is a joke.
I remember when I didn't have two nickels to rub together so I am very cautious on spending even though I have no debt, paid up house, no CC debt, paid off 3 year old car, etc. I save about 40% of my paycheck for an emergency fund since I do not intend to ever live in Cleveland again.
Like most families we have made cutbacks also. I would like to caution anyone that might be considering one of the so called "debt relief" agencies. We were unfortunate enough to do so and lost $4000.00 and ruined our credit.
What about the people living on social security? We got the smallest increase in the last four years! DID WE GET LOST IN THE CROWD?
A one time financial bandaid will not solve the economic problem. People need the security of a consistent and constant income which is more than expenses. Recently, the cost of gas and oil (and the products they effect) have skyrocketed. Decent paying jobs in this area are rare.
I do not need a handout to buy a tv to make stores happy. I need a job so I can pay rent!!
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