Money poll: Is your confidence shaken?

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  Posted by Micki LeSueur Thu Mar 27, 2008 11:21am PDT

  I'm definitely worried about the economy. All signs are pointing from alarming to downfright freaky, so I'm keeping a closer eye on the cash. I'm a freelance advertising copywriter and the freelancers are the first to go during a recession. I'm keeping a few more dollars in my wallet, but I haven't gone full-metal belt tightening yet...

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  Posted by Mon Mar 31, 2008 4:03am PDT

  i'm seriously concerned. we currently live a comfortable lifestyle. we have two sizable incomes, three kids, a big house, big childcare costs and a decent mortgage. everything is okay today, but i'm not taking any chances.

  have clamped down on spending. we are now on a grocery/gas budget. the recreational spending has stopped -- no target runs, i avoid costco, and as to clothes shopping those $400 blouses at saks are out when a $60 version at nordstrom will do. i've even made a promise to stop shopping amazon and use the library (which we have been doing).

  the reality is i'm scared. for the first time in my adulthood this isn't just about what i can or can't accomplish. the market is moving in ways i don't understand and can't anticipate. there isn't a safe path anymore.

  i don't know what's going to happen next and it's left me really anxious.

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  Posted by gal in the northeast Mon Mar 31, 2008 4:31am PDT

  as a single gal in my mid-thirties, i can say that my spending habits have changed, but not subsided. in fact, i just dropped $5k on a new computer and have begun to buy staple, high-quality pieces for my wardrobe that are more likely to last. the $ out every month haven't changed, but the quality back to me is much, much higher. i'm also considering buying some stock now, following warren buffet's advice. it will be the first time i've had that opportunity in my life. i'm confident the u.s. can weather this storm.

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  Posted by AliciaR Mon Mar 31, 2008 8:01am PDT

  Yes, yes, yes. We've cut spending quite a bit, not just because of the economy, but private school tuition is driving us over the edge. We're doing lots of cuts I never thought I could do. We'll see how long it lasts! :-) As for the lady above buying $60 shirts at Nordstroms............Wish I were in your shoes!! I can't even go buy any one item for $60. I bought the kids shoes the other day and I got three pairs for $80 and thought that was a good deal! That'll be the last of my shopping for awhile..........till summer comes and they need some new clothes.

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  Posted by New Horizons Mon Mar 31, 2008 8:33am PDT

  All the signs have been there for quite a while that this will NOT be business as usual. There are enough of us with parents (or grand-parents) who weathered the 1920's-1930's, in several countries, including America, where life was incredibly tough for most people. And, in my own life, the 1980's were the real death knell for any social-contract. After that early 80's debacle, 'anything goes' has been corporate motto, and people are expendable in its wake.

  So, I suggest everyone pay attention, and as we were 6-figure top earners in the 80's and still got "hit", then and later, I suggest everyone pay attention now, so that those with resources will be able to help others in their family-friend circle who will need help.

  Support good companies, good causes and live more responsibly as a very thoughtful consumer. Regard it as being a good role model for your children and maybe you will find that 'doing with less' will help you 'do more with your Life'.

  Best to all ---

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  Posted by Mon Mar 31, 2008 8:38am PDT

  I have been in retail for 30yrs. If you buy anything at full price , you are very foolish. Everything is available at a markdown, you just have to know where to look. In this economy, it is a shoppers dream, because there is so much product in the pipeline that is not moving, and there is more to come. Always shop for the classics that never go out of style, and you can wear that blouse for the next 5 years. If you are going to go for the latest look, go for the knock-off, nobody but you will know.

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  Posted by luvitinnc Mon Mar 31, 2008 10:10am PDT

  I have definitely cut down. I look for sales all the time. I feel that making a weekly menu for the family has helped so much. You can stretch that buck if you have to and have a great meal at the same time.

  College is right around the corner for our son... so we have to save save save!

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  Posted by Threecatma Mon Mar 31, 2008 12:32pm PDT

  I have been on a "spending diet" since the first of the year - this year's New Year's resolution, and I'm doing pretty well sticking to it. I don't know about you, but my pantry always has more food than I can possible eat - you know, that "if the Great Depression returns" mentality?! Well, I'm all about using up what I have, being creative with all my purchases, reusing or re-purposing where I can, making my own food and clothing, and just about all I can think of to STOP spending money. I don't have to do this, but it's fun seeing all the ways I can save money. And, I'm working out of my home full-time now, so I'm hardly driving my car each week. What is scary, however, is the rapid inflation - I'm not sure we can take much more of this!

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  Posted by Jennifer Mon Mar 31, 2008 2:22pm PDT

  When I was laid off in 2001, I had no available openings in my previous career as a technical support engineer. (My old job is currently in Bangalore, India.) This is what taught me to cut every unnecessary expense the first time. Now we're definitely hosed by the economy and I'm having to send

  As a corporate librarian without a degree, I've spent the last 4 months eating spaghetti & sauce for lunch and supper [and gained about 15 pounds in the process]. This is how I can continue to pay for my mandatory car insurance, gasoline, rent, heat, electric and telephone.

  The only time I have food other than pasta is the 1x per week I go to my parents' and help them around the house. Mom usually will make a meatloaf, since it's a "Special Night". I haven't even bought a new 6-pack of undergutchies since November--let alone a $60 blouse. That $6.50 is better spent on the occasional on-sale canned Kroger tuna.

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  Posted by Jennifer Mon Mar 31, 2008 3:53pm PDT

  correction: "having to spend as little as possible, to save for my regular expenses."

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